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Category Archives: Division of Assets

Ensuring Full and Accurate Financial Information during Divorce

Chester NJ Divorce LawyersDuring any divorce, it is critical that your Morris County divorce attorney has a complete and accurate picture of your marital finances so that they can help you to fairly decide issues such as child support, alimony, and most importantly, division of marital assets and debt.

When both spouses participated in the management of family finances, obtaining accurate and complete financial information is often fairly straightforward. However, when one spouse managed most or all of a family’s finances, the process of determining the extent and status of a marriage’s finances can become much more complex. That being said, if your spouse predominately managed your family’s finances, there are two important legal tools your divorce attorney can use to ensure that complete and accurate financial information is disclosed during the divorce process.

 

Chester, NJ Divorce Lawyers Discuss “Interrogatories”

The first tool your divorce lawyer can employ in order to gather financial information is that of an interrogatory. Interrogatories are written questions submitted to your spouse, which must be responded to by your spouse and their divorce attorney, under oath. These questions can include almost any type of question, including their income levels, what bank accounts they have and how much money is present in them, what investments have been made, retirement funds such as 401k plans, questions regarding business ownerships and interests, and more.

As interrogatories are responded to under oath, if your spouse lies or hides information from an interrogatory, they can face criminal charges of perjury, and also risk having the courts rule much more in your favor in your divorce settlement agreement. If you have any reason to believe your spouse is hiding assets from, or inaccurately responding to, your interrogatories, be sure to tell your Chester divorce attorney so that they can take the proper steps to compelling this information to be disclosed.

 

Mendham Divorce Attorney Discusses “Notices to Produce”

Another tool your Mendham divorce attorney may employ is that of a notice to produce. Notices to produce are written requests for specific financial documents to be released by your spouse. These requests can be based on any of the information you obtain from an interrogatory, information you believe your spouse is hiding, or just general requests for information.

Notices to produce can compel submission of documents such as bank account statements, real estate contracts, loan applications or statements, credit card statements, income tax statements, retirement fund statements, and any other document your attorney deems relevant to the financial status of your marriage.

Failure to comply with a notice to produce will result in your spouse facing contempt of court charges, and various other legal and financial penalties.

 

Why Complete Financial Information is Important to Your Morris County Divorce

Divorce settlements such as child custody, alimony, and division of assets are all based on the financial status of you and your spouse. If that financial status is incomplete or inaccurate, the divorce agreements we mentioned will be extremely unfair to you. While discovery of inaccurate or incomplete financial information after your divorce may sometimes allow you to modify the agreements you have already signed, it is not always a given that this process will be successful, and of course this process will also almost always require the added expense of hiring an attorney after you have already paid for representation during your initial divorce.

 

Contact Our Morris County Divorce Attorneys Today

At The Law Office of Townsend, Tomaio & Newmark, our family law attorneys have extensive experience helping clients across Chester, Mendham, Chatham, Morristown, and the greater Morris County area to successfully and fairly resolve their divorce and all of its related issues.

While we highly recommend that individuals who are considering divorce or going through a divorce to begin taking a more active role in the management of their finances, we understand that they may not always have done so. With this in mind, we are prepared to compel that a complete and accurate picture of your marital finances be disclosed by your spouse, allowing us to ensure you receive the divorce settlement agreement you need and deserve.

To speak with our firm today in a free and confidential consultation regarding your divorce, and ensuring that no asset remains hidden or inaccurately valued, please contact us online, or through our Morristown office at (973) 828-0829.

The Benefits of Having a Prenuptial Agreement

Prenuptial agreements often carry a somewhat negative connotation amongst newlyweds or couples soon to be married. Many of these people believe that by signing a prenuptial agreement, or even discussing one, you are saying you believe your marriage will eventually fail and result in a divorce. The truth of the matter however, is that prenuptial agreements… Continue Reading

Why You Should Never Make “Side-Deals” for Divorce Property Settlement Agreements

One of the most important documents you will negotiate for, and sign, before your divorce can be granted is what is known as the property settlement agreement (PSA). The property settlement agreement will outline your financial and parental rights and obligations following the divorce, and decides key divorce issues such as child custody, child support,… Continue Reading

Bad Divorce Advice Commonly Given to Women

Going through a divorce is usually difficult, both financially and emotionally. Issues such as child custody, child support, division of assets, and alimony can easily overwhelm you, and its common for people to turn to friends and family for advice in times like these. While many of your friends and family members may have gone… Continue Reading

Taxes and Divorce

Divorcing individuals often have questions about tax their considerations and how they are affected by their divorce. While most divorce attorneys will urge you to speak with a financial consultant about your post-divorce finances and obligations, we can look at some of the more frequently asked questions regarding divorce and taxes. Should I file my… Continue Reading

“Why should I hire a divorce attorney?”

The advent of the internet and the rising accessibility to information it offers has had some interesting consequences for “do-it-yourselfers”. Youtube hosts thousands of videos informing viewers how to do things as diverse as putting in a new floor to building a car engine. But how does this access to information affect divorce and family… Continue Reading

My Divorce Settlement; What Am I Entitled To?

In divorce, there are so many factors to consider, so many potential outcomes, it’s easy to feel overwhelmed at times.  Finalizing a Divorce Settlement can be one of the most complicated aspects of the divorce, and at the same time be the most impactful on your life moving forward.  Many people are unaware of exactly… Continue Reading

When divorcing, does it matter who files first?

Often in divorce, both spouses will share a sense that the relationship is broken, and cannot be repaired.  The thought of legally ending the marriage has occurred to both parties privately, and one very common question under these circumstances is: “Does it matter who files for the divorce first?”  The answer is complex, but according… Continue Reading

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866-957-2982

973-828-0829

Morristown / Morris County Law Office

65 Madison Ave

Suite 420

Morristown, NJ 07960

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