It is no secret that money is one of the most contentious issues in any Illinois divorce. Emotions and disagreements can quickly derail positive discussions over a financial settlement, particularly when there are valuable assets or a significant amount of money at stake.
In some cases, one spouse may move to hide certain assets during the divorce proceedings, effectively preventing the other spouse from receiving his or her fair share of marital property. This is wrong, and it can lead to an unfair property settlement. If you suspect that your spouse is hiding assets, you would be wise to reach out to an experienced lawyer as soon as possible to protect your interests.
Seeking hidden assets
Property division is not a game, and you have the right to fight for an equitable share of your marital property. Unless you are a forensic accountant, it can be difficult to know if your spouse has properly disclosed all assets, where hidden assets may be and what you should do next. Fortunately, there are ways you can prepare yourself and continue to pursue what you deserve by doing the following:
- Inspecting voluntary disclosures: In divorce, each party will likely voluntarily disclose assets as part of the discovery process. This is the first step in developing an equitable division of community property, and you can make the effort to carefully inspect all assets disclosed by your soon-to-be-ex.
- Requesting involuntary disclosures: You have the right to request financial and asset-related information, and your spouse will be legally obligated to comply. Demanding additional disclosures can help reveal hidden assets.
- Making inquiries: If necessary, you may depose your spouse before you go to court. This means that you will be able to have him or her on record in reference to potentially hidden assets.
Financially complex divorces are stressful, and at times, they may seem impossible to navigate. Even though they are difficult, you would be wise to continue to fight for an outcome that will allow you to have financial stability and security long into the future.
Getting what you deserve
What should you get from your divorce? How can you ever prove that your spouse is hiding assets? These questions and other concerns have implications that will affect you for years to come after your divorce. You do not have to search for answers on your own or wage your own fight for a fair settlement, but you may seek the guidance and support of a knowledgeable family law attorney.
