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How to Find Hidden Assets in Divorce

Posted in Divorce on Wednesday, August 25th, 2021

A divorce can be an expensive and time-consuming process, and a major part of this process is the equitable distribution of your marital assets. While this aspect of divorce is difficult enough as it is, it can become even more challenging if your spouse may have hidden assets from you to gain an unfair advantage. 

Many people don’t realize that there are many assets that they may not be aware of when it comes to a divorce. These hidden assets can cause issues in the settlement process and could put your rights at risk. In this article, we’ll discuss the process of uncovering hidden assets to protect your rights and how an Illinois divorce lawyer can help.

Finding Hidden Assets

There are many ways that spouses can try to hide assets, such as:

  • Offshore accounts
  • Deferring income, such as commissions or bonuses, until after the divorce is final
  • Gifting assets to family members with the intention of getting them back post-divorce
  • Using assets to make large purchases that a spouse might not know about
  • Having secret investment or financial accounts 
  • Dumping funds into a business to conceal them

No matter where assets are hiding, they can be difficult to uncover. However, this is critical since you are entitled to a fair portion of all of your marital assets – even those you cannot immediately locate.

Oftentimes, a spouse who suspects there are hidden assets will choose to hire a private investigator. However, this can be costly and might not uncover everything you need to know. An experienced divorce lawyer will have other resources to seek out hidden assets to ensure you receive a fair property settlement.

Working With the Right Attorney

Many divorce lawyers handle mostly straightforward divorce cases. However, our legal team has decades of experience dealing with complex divorce matters. We know the many ways that spouses try to hide assets, and we have ways to find them. 

The discovery process is a critical part of any divorce – especially in cases with complex financial situations. Through discovery, your spouse and their attorney must turn over all information about any financial accounts and assets that you have. We can request tax returns, accounting records, employment contracts, and more to identify if any assets have disappeared. If your spouse lies under oath during discovery, they can be in serious trouble with the court. 

We also have investigative tools to trace accounts, track cash flow, and find hidden financial accounts when necessary. We will do whatever it takes to find any hidden assets and make sure that you leave your divorce with your fair share. 

Contact a Joliet Divorce Lawyer for Help Today

At Sabuco Beck P.C., we take on complicated divorce cases that might involve complicated property distribution, hidden assets, and more. Do you want to learn more about how our Joliet divorce attorneys can help uncover hidden assets during your divorce proceedings? If so, contact us to schedule an appointment with our legal team.

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