Divorce Cases And Complex Asset Disclosure
New Jersey residents may be interested in the divorce case of a New York man who is refusing to disclose his alleged earnings from a Brooklyn property sale in 2009. The New York Court of Appeals heard the man’s argument in 2015, and his attorney claims that he has the right to refuse to testify. She also states that the court must prove that he has the money, while he has the right not to take the stand.
The estranged wife’s lawyer claims that the man has not deposited any money into the couple’s escrow account for five years despite making two other property transactions. An October 2015 ruling from the six judges of the Appeals Court is expected to provide a resolution to the case. The divorce proceeding was originally started by the man’s wife in 2008, and her lawyer claims that the Brooklyn property that was sold was part of the marital estate.
The husband argues that he was divorced in Lebanon and that his wife was not eligible for court-ordered property division under New York law. The case outline lists the proceeds of the Brooklyn property sale as $776,000, but when the husband failed to comply with a 2010 court order to deposit the proceeds in the escrow account, the man claimed he no longer had the funds. He faced 15 days in jail for alleged contempt of court as a result of violating court-ordered restrictions which his attorney claims do not actually exist.
Property division can become complicated in a divorce situation where one of the parties is less than forthcoming about the existence or location of certain assets. An experienced divorce attorney along with a forensic accountant may be able to provide assistance in this regard.