303 W. Main Street, West Dundee, IL 60118
 | 847-428-7725
Call for an Initial Consultation
Evening and Weekend Hours by Appointment
100 Illinois Street, Suite 200, St. Charles, IL 60174
 | 630-200-4882
By Appointment Only
Evening and Weekend Hours by Appointment
West Dundee, IL847-428-7725
St. Charles, IL630-200-4882
Facebook Twitter LinkedIn
Search
Serving Kane, McHenry, DuPage and Cook Counties

My Spouse is Trying to Hide Money During Our Divorce. What Can I Do?

Posted on in Divorce

Kane County divorce attorneyFinancial issues are often some of the most complicated and contentious aspects of a divorce case. During an Illinois divorce, spouses must decide how to divide their assets and debts. If the couple cannot negotiate a property division settlement, the court will intervene and divide assets and debts for the couple based on equitable distribution laws. Child support and spousal support are also based on the spouses’ financial circumstances. But what happens if a spouse hides money or lies about assets and income during divorce?

Financial Fraud in a Barrington Divorce Case

Divorcing spouses must submit financial affidavits to the court. Lying on these documents is unlawful, but some spouses still choose to be deceitful.

Spouses may try to control the outcome of the divorce by:

  • Hiding money in offshore accounts or secret bank accounts
  • Hiding physical case and valuables from the other spouse
  • Undervaluing assets
  • Lying about how much money they make
  • Fabricating debts and expenses
  • Using a small business to hide assets
  • Loaning money to family and friends

When a spouse underreports assets and income, this can heavily influence the outcome of the divorce case. For example, a parent may lie about his or income to get a lowered child support obligation. This hurts the other parent as well as the child. Spouses who hide property or money prevent assets from being fairly divided during the divorce. If your spouse is not disclosing all of his or her assets or income or is otherwise lying about finances during your divorce, contact a divorce lawyer for help.

Uncovering Hidden Assets and Financial Deception

Divorce lawyers have many tools at their disposal to reveal financial deception during divorce. Every financial transaction leaves a paper trail. Tax returns, loan documents, bank statements, and other financial paperwork may yield clues about financial trickery during divorce. Discovery tools like subpoenas and requests for production may be used to force the spouses or financial institutions to hand over financial records.

The process of forensic accounting may also reveal financial deception during divorce. A forensic accountant is a specially-trained accountant who knows how to find evidence of assets or income by evaluating financial transactions and activities.

Contact a Geneva Divorce Lawyer

The St. Charles divorce lawyers at Law Offices of Benedict Schwarz, II P.C. believe that you deserve a divorce outcome based on true financial information. We are committed to helping you uncover the truth so that property division, child support, and spousal support determinations are accurate and fair. Call our office today at 847-428-7725 to learn more about how we can help you.

 

Source:

https://www.ilga.gov/legislation/ilcs/documents/075000050k503.htm

  • Illinois Best Law Firms
  • Super lawyers
  • Attorney Registration and Disciplinary Comission
  • Lawyers Association Program
  • Illinois State Bar Association
  • Kane County Bar Association
  • DuPage Bar Association
  • Martin Dale
  • aacfl
Back to Top