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Divorcing couples with a reasonable sum of assets and money usually want to ensure they receive their fair share. Unfortunately, obtaining that fair share is not always an easy task. For some, the division of assets is a long, drawn-out battle, with each party arguing over what he or she is entitled to have or keep. For others, there could be deceptive practices like asset hiding or transferring that is meant to rob the other party of his or her fair share. Regardless of the situation, arguing over assets carries a number of possible risks for all involved.

Losing Assets or Money You May Have Been Owed

Most people realize that settling before every possible factor, condition, and offer has been considered may result in the loss of assets or monies they might have otherwise been owed. However, few fully understand just how significant and far-reaching the impact of an early settlement can be. If, for example, you have been a stay-at-home parent for the last several years, you may struggle to find employment that offers a salary comparable to what you would have made, had you stayed in the workforce. This, paired with possible child-care costs and single-income household expenses, could affect your life for many years after the divorce is complete.

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When an individual believes that a divorce is unavoidable, he or she may panic. As a result, he or she may try to hide money or assets to avoid losing them in the divorce. If your spouse is playing games with your family finances, it then puts you at a disadvantage. However, there are teams of experts who are trained to detect fraudulent financial activity in a divorce, and to find missing assets.

How Spouses Try and Hide Money and Assets

There is no end to the creativity of people looking to try and hide money from their spouse and their spouse's attorney. Sometimes they spend months withdrawing money from checking and savings accounts and depositing the money into secret accounts. A spouse may also try and buy expensive items such as jewelry or art that can easily be transported and hidden, hoping to cash in those assets later after the divorce is final.

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How Can You Find Hidden Assets in an Illinois Divorce?

DuPage County divorce attorney, find hidden assetsWhen a marriage begins to fall apart, one spouse may attempt to hide assets and other sources of income to avoid splitting these assets in a divorce settlement or may want to attempt to lower a future child support or spousal support obligation. Illinois law, however, requires judges to equitably divide marital property in divorce settlements. Therefore, if one spouse hides marital property, a court ordered division of marital property will not be equitable.

The Discovery Process

Sometimes, a spouse may know that an asset exists and notices that it is missing from the other spouse's financial disclosures. Or, a spouse may only suspect that an asset is missing. In divorce cases, the law allows both instances to go through the discovery process-a process where both sides ask for certain information.

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