Category Archives: Family Law

DuPage County property division lawyer

Financial infidelity can be stressful in any relationship, but it can become even more stressful in a divorce. Here are a few signs that your spouse may be hiding assets from you:

  1. You find unusual statements in the mail. This one can be the most obvious. If you have been getting account statements in the mail from banks or credit card companies that you are not familiar with, they could indicate that your spouse has an account with them that he or she has not told you about.
  2. Your spouse is controlling your joint bank accounts. This one could be harder to detect if your spouse is usually the one who takes care of the finances. If your spouse all of a sudden begins being secretive or controlling of your joint checking or savings accounts, it could be a sign that he or she is trying to conceal certain financial actions.
  3. Your spouse has made unusually large purchases. You are probably aware of your spouse’s spending habits. If they are making unusual purchases or very expensive purchases, like cars or jewelry, without your knowledge, they could be attempting to underreport the costs of those items.
  4. Your spouse has opened a custodial account. While this may seem like a responsible and preemptive thing for your spouse to do, it may have happened for the wrong reasons. Opening a custodial account under your child’s name and social security number can allow them to put away money while saying it is for your child.

A Hinsdale, IL Asset Division Lawyer Can Help

When you get a divorce, you will eventually have to divide community assets between you and your spouse. If your spouse has an array of assets that you are on aware of, he or she could be getting much more than his or her fair share. If you have reason to believe that your spouse is attempting to hide assets from you, you need help from a knowledgeable and aggressive DuPage County community property attorney.

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HInsdale IL hidden asset lawyerYou have probably heard of romantic infidelity, but have you ever heard of financial infidelity? Financial infidelity is when one person hides money or other assets from their spouse, and it is not uncommon. According to a report by Creditcards.com, about 15 million American adults currently have a credit card, checking account or savings account that their live-in spouse or partner does not know about. Another 9 million people admitted that they used to have a secret account but no longer do.

Financial infidelity can be stressful in any relationship, but it can become even more stressful in a divorce. Here are a few signs that your spouse may be hiding assets from you:

  1. You find unusual statements in the mail. This one can be the most obvious. If you have been getting account statements in the mail from banks or credit card companies that you are not familiar with, they could indicate that your spouse has an account with them that he or she has not told you about.
  2. Your spouse is controlling your joint bank accounts. This one could be harder to detect if your spouse is usually the one who takes care of the finances. If your spouse all of a sudden begins being secretive or controlling of your joint checking or savings accounts, it could be a sign that he or she is trying to conceal certain financial actions.
  3. Your spouse has made unusually large purchases. You are probably aware of your spouse’s spending habits. If they are making unusual purchases or very expensive purchases, like cars or jewelry, without your knowledge, they could be attempting to underreport the costs of those items.
  4. Your spouse has opened a custodial account. While this may seem like a responsible and preemptive thing for your spouse to do, it may have happened for the wrong reasons. Opening a custodial account under your child’s name and social security number can allow them to put away money while saying it is for your child.

A Hinsdale, IL Asset Division Lawyer Can Help

When you get a divorce, you will eventually have to divide community assets between you and your spouse. If your spouse has an array of assets that you are on aware of, he or she could be getting much more than his or her fair share. If you have reason to believe that your spouse is attempting to hide assets from you, you need help from a knowledgeable and aggressive DuPage County community property attorney.

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DuPage County family law attorneyAs remarriage after divorce has become increasingly common, more blended families or stepfamilies have emerged. According to the United States Census Bureau, over half of all American families were divorced and remarried or recoupled in 2010, which was the last major census year. Nearly 4 million children were living in a blended family or stepfamily in 2010.

All families face their own challenges, but stepfamilies have a unique set of challenges that can be hard to overcome. Here are a few tips you can follow in order to make your experience in a blended family a good one:

1. Make Sure You Plan Accordingly

Stepfamilies do not form overnight. Ending one marriage and entering another can take months, if not years. You have plenty of time to think through logistics. Before you get remarried, you should make sure that your parenting plan from your previous marriage is sound and acknowledges that you are getting remarried. You should also make sure that if you are marrying a spouse who also has children from a previous marriage that he or she has planned as well.

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Investigating Business Fraud During Divorce NegotiationsYou should listen to your instincts in a divorce if your spouse’s reported business assets and income seem to not add up. You may not know all of the details about his or her business, but you know in general whether your family is doing well financially. Your spouse may be misreporting his or her business income or hiding assets. Business fraud is both illegal and detrimental to your financial interests in the divorce. Only a thorough investigation of your spouse’s business can determine whether your suspicions are true.

Examples of Fraud

Your spouse may use employee benefits to hide his or her income, such as deferred compensation and stock options. He or she may not tell you about a company expense account that will reimburse his or her expenditures. However, a spouse has more opportunities to commit fraud if he or she owns a business. Your spouse may mislead you about the value of the business by:

  • Not reporting or undervaluing business assets;
  • Taking on additional debts that will be repaid after the divorce;
  • Overpaying creditors with the intention of being reimbursed;
  • Understating the business’s total value or growth potential; or
  • Creating secret accounts or shell corporations for the purpose of hiding assets.

Motivation

The value of your spouse’s business interests helps determine the division of marital property, child support, and spousal maintenance. The business may be a marital property, giving you a right to partial ownership or equitable compensation for its value. The business is also a major component of your spouse’s income, which determines whether your spouse is responsible for support payments. Your spouse can gain a financial advantage in the divorce by misreporting the business’s value. However, he or she may be lying to you in order to hide other illicit activities:

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Hinsdale IL parenting time attorneyDespite parents’ best efforts, children of divorce often feel a significant amount of stress during and immediately after the divorce process. Typically, when two parents divorce, one parent is the “main” caregiver that the child resides with the majority of the time and the other parent is granted specific parenting time, though this can be problematic for the child. In an effort to make this life transition easier for children, something called a “nesting” arrangement has been becoming more popular for families of divorce.

What Is a Nesting Arrangement?

In a nesting arrangement, both parents move out of the family home into separate living spaces. The children remain in the family home, and each parent comes and goes according to the parenting time schedule. Some parents share the separate living space as neither will be there at the same time, and some parents get different living spaces altogether.

Benefits and Drawbacks of Nesting Arrangements

There are many things to consider when making the decision to partake in this arrangement, which some may regard as unconventional. Here are pros and cons of nesting arrangements:

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address15 North Lincoln Street, Hinsdale, IL 60521
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Our firm handles family law and personal injury matters for clients in Chicago and throughout the western suburbs including DuPage County, Will County, Kane County, Cook County and the cities of Aurora, Bloomingdale, Bolingbrook, Burr Ridge, Carol Stream, Darien, Downers Grove, Elmhurst, Glen Ellyn, Hinsdale, Joliet, Kendall County, Lombard, Naperville, Oak Park, Oak Brook, Oakbrook Terrace, Clarendon Hills, Oswego, Park Ridge, Roselle, St. Charles, Geneva, Villa Park, Warrenville, Wheaton, Western Springs, LaGrange, Winfield, Woodridge and Yorkville.

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