In dissolution proceedings, inquiries regarding financial institution holdings are a standard component of asset division. These investigations typically center on uncovering the existence, valuation, and characterization of funds held in deposit accounts, including checking, savings, and money market accounts. Specific issues can arise concerning commingling, tracing, and separate property claims related to these assets. For example, parties may dispute whether funds deposited during the marriage should be classified as marital property subject to equitable distribution, or as separate property if traceable to premarital assets or inheritances.
Accurate and comprehensive disclosure of these accounts is crucial for ensuring a fair and equitable settlement. Undisclosed assets can lead to legal challenges, including motions to reopen a divorce decree or actions for fraud. Historically, the focus has been on identifying account ownership and balances at the time of separation, but increasingly, there is scrutiny of account activity leading up to the filing of divorce to uncover potential dissipation of marital assets or hidden funds. The accessibility of electronic banking records has significantly impacted the process of discovery related to these assets.