Divorce, Support, and Technology: Uncovering Hidden Income in NYC Divorce Cases

In NYC divorce cases, determining accurate income is crucial for calculating child support and spousal support. Unfortunately, some individuals attempt to hide income or misrepresent their financial situation to avoid their financial obligations. At Veridian Legal, our experienced NYC divorce attorneys leverage technology and legal tools like subpoenas to uncover hidden income and ensure a fair financial outcome in your divorce.

Statement of Net Worth: The Starting Point for Income Determination

During a divorce case in New York, both parties are typically required to complete a detailed statement of net worth (a financial disclosure affidavit in Family Court) . This sworn statement provides a comprehensive overview of your income, assets, expenses, and overall financial situation. The information provided in the affidavit is used to calculate child support, spousal support, and to divide marital property equitably.

What's Included in a Statement of Net Worth:

• Income Sources: This includes all sources of income, such as employment income (salary, wages, bonuses, commissions), investment income (interest, dividends, capital gains), rental income, business income, and any other sources of revenue.

• Paycheck Stubs: Recent paycheck stubs are required to verify current employment income.

• Income Tax Returns: Copies of income tax returns, including W-2s, 1099s, and any schedules, are essential to understand a party's income history and tax liabilities.

• Bank Account Statements: Statements from all bank accounts, including checking, savings, and money market accounts, are required to show cash flow and assets.

• Credit Card Statements: Credit card statements provide insight into spending habits and potential undisclosed debts.

• Loan Documents: Documents related to mortgages, car loans, student loans, and other debts are necessary to assess a party's financial obligations.

• Retirement Account Statements: Statements from 401(k)s, IRAs, and other retirement accounts are crucial for determining the value of marital assets and potential future income.

• Information about Health and Life Insurance Plans: Details about health insurance coverage and life insurance policies are relevant for determining support obligations and potential division of assets.

Social Media and Lifestyle Inconsistencies: Red Flags for Hidden Income

In today's digital age, social media can provide valuable clues about a person's lifestyle and financial situation. Our attorneys are skilled at analyzing social media activity to identify inconsistencies between a party's financial disclosures and their online presence.

Red Flags on Social Media:

• Posts about Lavish Vacations and Expensive Purchases: Frequent posts about extravagant trips, designer clothing, luxury cars, or high-end dining can raise questions about whether a party is accurately reporting their income and expenses.

• Photos Showcasing a High-End Lifestyle: If a party's social media portrays a lifestyle that seems inconsistent with their reported income, it could be a sign that they are hiding assets or income.

• Frequent Check-ins at Exclusive Clubs and Events: Membership in exclusive clubs or attendance at high-profile events can indicate a higher level of disposable income than what is reported in financial disclosures.

• Discrepancies in Employment Status: If a party claims to be unemployed or underemployed but their social media activity suggests otherwise, it could be a sign of hidden income.

If a judge believes that a party is underreporting their income, they may impute income, which means they will assign a higher income level for the purpose of calculating support obligations. This can significantly increase a party's financial obligations.

Leveraging Subpoenas to Uncover Hidden Income

Our firm routinely uses subpoenas to obtain financial records from various sources to determine an individual's true income. We can issue subpoenas to:

• Banks and Financial Institutions: We can subpoena banks, credit unions, investment firms, and other financial institutions to uncover hidden bank accounts, investment accounts, and other financial assets that a party may not have disclosed.

• Employers: We can subpoena employers to obtain accurate information about a party's income, including salary, bonuses, commissions, stock options, and other benefits. This can help verify the accuracy of the information provided in financial disclosure affidavits.

• Social Clubs and Organizations: If a party is a member of exclusive social clubs, gyms, or other organizations, we can subpoena records to reveal their spending habits and membership fees, which may indicate a higher income level than reported.

• Venmo, Zelle, and other Payment Platforms: We can subpoena records from Venmo, Zelle, PayPal, and other payment platforms to track transactions and identify unreported income sources or hidden assets.

• Credit Card Companies: We can subpoena credit card companies to obtain detailed spending records that may reveal a lifestyle inconsistent with reported income. This can be particularly helpful in cases where a party is suspected of hiding income or assets.

Why You Need Experienced NYC Divorce Lawyers

Uncovering hidden income can be complex and require specialized legal knowledge and investigative skills. Our experienced NYC divorce lawyers at Veridian Legal can:

• Analyze Financial Documents: We meticulously review financial disclosure affidavits, tax returns, bank statements, and other financial documents to identify inconsistencies, red flags, and potential evidence of hidden income.

• Issue Subpoenas: We strategically use subpoenas to obtain critical financial information from third parties, such as banks, employers, and social media companies.

• Conduct Thorough Investigations: We leverage technology and investigative techniques to uncover hidden assets and income, leaving no stone unturned in our pursuit of the truth.

• Present Compelling Evidence in Court: We effectively present evidence to the court to ensure that your spouse's true financial situation is revealed, ensuring a fair and equitable outcome in your divorce.

• Advocate for Your Financial Interests: We are fierce advocates for our clients' financial rights. We will fight to protect your interests and ensure that you receive a fair and equitable financial outcome in your divorce, including appropriate child support and spousal support orders.

Suspect your spouse is hiding income in your NYC divorce?

Don't let them get away with it. Contact Veridian Legal today for a confidential consultation. Our experienced divorce attorneys will uncover the truth and fight for your financial rights.