One of the most important parts of a divorce is the division of marital assets. Spouses are bound by Illinois law to be transparent and forthcoming about their individual and shared finances so they can negotiate fairly and come to an equitable resolution, as required by the Illinois Marriage and Dissolution of Marriage Act.
When a spouse is deceptive and attempts to hide property, savings, income, investments, or other assets, effective action is required to investigate and reveal the missing information. A competent Illinois divorce attorney can help you track down missing assets before a judgment or help you appeal your divorce decree if you found out your spouse was hiding assets after the divorce was finalized.
Finding Hidden Assets During Active Divorce Proceedings
One of the first and most important parts of the divorce process is a period known as “discovery,” wherein both spouses’ attorneys send and request information that reveals their clients’ full financial situation. An experienced attorney will review these documents and, if there is suspicion that one spouse is being less than fully transparent, hire additional experts such as forensic accounts to pursue unexplained transactions or unidentified assets. Attorneys can write questions in interrogatories that spouses must answer, and even request an oral deposition to force spouses to testify under oath. Because the consequences for lying under oath are serious, this can be an effective strategy for getting a dishonest spouse to admit to having more assets than they initially revealed....