How to Uncover Hidden Assets in Your Illinois Divorce

 Posted on December 00,0000 in Division of Property

There are many reasons why couples get divorced. Infidelity, financial problems, lack of commitment and different priorities are all common reasons why couples choose to get divorced, but they all typically contain one major common theme -- a lack of trust. When you no longer trust the person you are married to, it is difficult to have a successful marriage. During a divorce, it is not uncommon for one or both spouses to have assets that they have attempted to hide from the other. While this may seem like a good way to keep your spouse from getting certain things in a divorce, it is illegal. Full disclosure is required in divorces. If you feel like your spouse may be hiding things from you, here are a few ways you can try to uncover hidden assets in your divorce: Look Over Tax Returns A good place to start looking for hidden assets is on your tax returns. Pull your tax returns from the last five years and examine them carefully. You should be looking for any inconsistencies in the returns, such as inconsistencies in income, itemizations of assets, real estate taxes, mortgage interest. Keep an Eye on Your Bank Accounts Take a look at your joint bank accounts. Are there any canceled checks from your checking account? Are there unusual withdrawals or deposits into your checking or savings accounts? If so, you may be dealing with a spouse who has attempted to hide money from you. Make sure you get copies of all bank account statements to use in court. Utilize Public Records

Public records can be extremely helpful when you are looking for hidden assets. Some jurisdictions allow you to access certain public records online, but all jurisdictions have public records on hand at the courthouse. When looking through public records, you should focus your attention on:

• Property deeds;
• Real estate appraisals;
• Tax assessments;
• Loan applications; and
• Business records.

Team Up With a DuPage County Asset Discovery Attorney

One of the most difficult parts of a divorce is the asset division process -- especially if you are dealing with a spouse who has attempted to hide his or her assets. At the Law Office of Matthew M. Williams, P.C., we know that dealing with hidden assets is a difficult task. Our skilled Aurora, IL asset discovery lawyers will help you find any assets that your spouse may be hiding from you through teamwork with forensic accountants and other experts. Call our office today at 630-409-8184 to set up a consultation.

Sources:

https://www.liveabout.com/ways-to-find-hidden-assets-during-divorce-1103106