Yorkville, IL Hidden Assets Attorneys
Hidden Assets Lawyers Serving Kendall County
When you get a divorce in Illinois, you are entitled to an equitable division of marital assets. Unfortunately, it is not uncommon for one spouse to hide assets from the other spouse in order to tilt the scale in his or her favor. At the Kendall County divorce law firm of Goostree Law Group, our attorneys are skilled in uncovering hidden assets and ensuring our clients receive a fair property settlement or judgment.
Uncovering Hidden Assets in Divorce in Kendall County
When one spouse is responsible for most of the financial decisions and/or bookkeeping for the household, it is not difficult for assets to be surreptitiously moved from one place to another. This is sometimes done in anticipation of a divorce in order to retain a greater share of the martial property, but it may also be done throughout the marriage. There are many ways for one spouse to hide assets from another spouse including:
- Diverting income into a separate bank account;
- Maintaining retirement accounts that are not disclosed;
- Keeping cash or travelers checks in a hidden location;
- Secretly purchasing valuable investment objects such as artwork, jewelry, antiques, etc (which can later be resold);
- Giving money to a friend to be returned later; and
- Delaying bonuses, stock options, or accounts receivables until after the divorce.
Hiding assets is illegal, and our attorneys know how to track those assets down and ensure our clients receive their fair share. We work with experienced forensic accountants and other financial professionals to ensure a thorough and accurate accounting of all marital property.
Preventing Hidden Assets in Divorce
If you have taken a hands-off approach to your household finances, you are more vulnerable to situations involving hidden assets. If you are not familiar with all of your marital property and you are considering filing for divorce or suspect your spouse may be considering filing for divorce, it is wise to get up to speed as soon as possible in order to prevent your spouse from successfully hiding assets. It will likely be easier to access your financial records and documentation prior to separation than it will be using a court order. Our attorneys can help you make the necessary preparations to protect yourself and your financial interests.
If you are involved in a divorce and you suspect that your spouse may have hidden assets, contact us at 630-882-5668 to schedule a free consultation to discuss your options. We work with clients throughout Northern Illinois including Kendall County and the surrounding areas.
