Searching for Hidden Assets in an Illinois Divorce
When the stakes are high, spouses may use ulterior means to get a greater share of the marital assets. They may do this by underreporting their financial and property assets. As Kane County divorce attorneys, we have experience dealing with hidden assets during high-asset divorces and settling property divisions. If you suspect your spouse is not being honest, do not hesitate to ask for help.
How to Discover Hidden Assets in an Illinois Divorce
Documenting your financial records before filing for a divorce can help you build a better case against your spouse. However, sometimes spouses purposefully disguise assets to avoid equitable distribution during a divorce in Illinois.
They may avoid detection by lying about their income, making false investments, or asking a third-party like a friend or family member to hide the cash. Additionally, your spouse may open a retirement account, custodial accounts, and offshore account without your knowledge to funnel funds.
They may also purchase valuable artwork, jewelry, and collectible items to sell later.
Having legal representation and forensic accountants can help you search for concealed assets.
At Shaw Sanders, our legal team is equipped to tackle complex financial investigation using our extensive experience and knowledge in these matters.
Here are some effective strategies we apply to search for hidden assets:
The Illinois law orders both parties to truthfully share financial documents and records for equitable distribution during settlement. We can request your spouse to share the missing documents.
We collaborate with forensic accountants to carefully analyze financial records and documents shared by your spouse. The analysis can help us find inaccuracies and falsified information that direct us to the hidden assets.
As legal representatives, we can ask your spouse specific questions through written interrogatories. Your spouse needs to answer these questions under oath. In these situations, we can ask questions about any suspicious activity or transaction we noticed during the financial analysis.
Their responses can help us track the hidden assets before the divorce proceedings are finalized.
If the written interrogatories prove insufficient, we can arrange a deposition under the supervision of an authorized court official. It allows us to ask your spouse detailed questions about financial activities. Court representatives record the deposition to be used as evidence later if needed.
Further investigation may lead to inspections of their property in search of valuable assets. Alternatively, we can issue third-party subpoenas to banks, financial institutions, and sometimes known individuals. We request these parties to submit evidence that can verify what we learned during your spouse’s deposition.
Collectively, these strategies can help us identify hidden assets during a divorce.
Contact a Kane County Divorce Attorney
Navigating through a divorce in Illinois can be tricky, especially when your spouse intentionally hides assets to prevent you from receiving your fair share during a settlement. Contact us at 630-584-5550 to consult an experienced Kane County divorce attorney from Shaw Sanders for practical and actionable legal advice.