St. Charles Forensic Accounting and Hidden Assets Attorneys

Forensic Accounting and Hidden Assets Lawyers Serving Kane County

Property division matters are often hotly contested in a divorce. Unfortunately, not all spouses play fair. It is not uncommon for one spouse to hide assets from the other spouse, thereby preventing them from being divided. This is easiest to do when one spouse has primary responsibility for the marital finances. The other spouse may have no idea how their marital estate is structured or what it is worth. Having a full and accurate picture of the marital estate is essential to ensure a fair settlement or judgment in asset distribution matters.

At the Kane County law firm of Goostree Law Group, we help clients uncover assets that have been withheld from the property division process. Our experienced attorneys understand the challenges that come with divorce, and we are dedicated to helping you through this difficult time.

Uncovering Hidden Assets in a Divorce in Kane County

Illinois is an equitable division state, which means all marital assets are subject to division in a divorce, and they should be divided between spouses fairly, although an equal division is not required. In an effort to retain a greater share of the pot, some spouses attempt to conceal assets and income. When a divorce involves a closely-held business that is managed by one spouse, hiding and manipulating assets can be relatively easy to do. When business and personal assets are intermingled, it can make it difficult to determine the true value of a marital estate without assistance from a financial expert.

There are many other ways to hide assets prior to and during the divorce process, including:

  • Stashing money in a secret bank account
  • Establishing and funding retirement accounts unknown to the other spouse
  • Using marital assets to purchase high value items that could be resold after the divorce, like artwork or jewelry
  • Temporarily transferring assets to another person
  • Paying back false debts with plans to receive the money back after the end of the divorce
  • Paying wages to a nonexistent employee through a business
  • Hiding or underreporting income

Hidden assets do not always stay hidden, however. With the help of an experienced forensic accountant, you can obtain a full measure of your marital estate. Forensic accountants use tools like asset tracing to find concealed assets. Our attorneys work closely with experienced forensic accountants and other financial experts to track down marital assets that have been withheld from our clients.

Contact Our St. Charles Property Division Lawyers for Hidden Assets

If you are getting a divorce and you are concerned that your spouse may have hidden assets, contact us at 630-584-4800 to schedule a free consultation. We will discuss the specific circumstances of your divorce and explain how we can assist you with uncovering all of the marital assets you are entitled to. Our firm represents clients throughout Northern Illinois, including Kane County and the surrounding areas.

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