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What defines hiding property?

In the opinion of a court of law, it is one thing to put assets into safekeeping or use them for necessities of life, it is quite another to hide them and not admit they exist as we have just addressed. The taking of monies from a joint bank account for transfer to an individual account, for example, is acceptable so long as the existence of such an account is admitted. In this manner, the judge will still be able to include them in a fair and equitable distribution of marital assets.

Conversely, if you claim you lost monies from a joint bank account at a casino in Atlantic City, the judge might very well conclude (perhaps incorrectly) that you are not telling the truth and are attempting to hide assets. In this case, there is a very good chance that the judge will award YOU the "missing" assets and assign an equal amount of assets to your spouse in the final distribution. If you are able to substantiate that certain assets were spent for a legitimate purpose, such as probable and reasonable living expenses, then there will be no penalty to pay, unless there was a specific restraining order issued by the court restricting such expenditures.