Do Not Let Your Spouse Get Away with Hiding Assets!

Do Not Let Your Spouse Ge…

In the matter of Estate of Milagros Beltra v. Beltra, the Appellate Division again confirmed a trial court’s ability (and duty) to report a party’s unreported income (especially in the form of cash) and assets to the appropriate authorities. In Beltra, the trial court judge determined that the husband made substantial cash contributions towards the purchase of properties in Argentina and the Dominican Republic, made considerable deposits in foreign banks, and had interests in a number of businesses. The judge felt obligated to report his findings regarding unreported cash generated from defendant’s business interests to the United States Attorney’s Office, the Internal Revenue Service, the New Jersey Division of Taxation and the local county prosecutor’s office.

Not only did the husband have to equitably divide all of the assets he was trying to hide, but he then faced criminal charges for failing to declare income to the Federal and State governments as well as the IRS.

If you think your spouse has secreted money or assets from you or the government, it is critical that you consult with an experienced attorney who will make sure that you will not be short changed in your divorce settlement/trial. At Ruvolo Law Group, LLC, we will inform you of your options and how your spouse's actions may legally impact you.