Hidden Assets Attorneys
Property division is often the most hotly contested issue in a divorce. This is particularly true in high-asset divorces and divorces that involve business valuations. In trying to avoid dividing assets equitably, spouses often resort to hiding assets. If you suspect that your spouse has hidden assets from you prior to or during your divorce, it’s important to hire a skilled attorney to help you find them. At the Law Firm of Anthony Abear P.C., we are experienced in uncovering hidden assets for our clients and ensuring our clients receive their fair share of marital property.
Uncovering Hidden Assets
In Illinois, full financial disclosure is required in a divorce proceeding. Hiding assets from a spouse during divorce and result in substantial penalties including loss of the full value of the hidden asset. Unfortunately, when one spouse maintains the majority of the control over a family’s finances, hiding assets from the other spouse can be relatively easy. In such cases, a forensic accountant can be used to investigate your finances and uncover any assets that are concealed from the divorce. Once a hidden asset is found, it must then be proven to be marital property. Marital property is any property that is acquired during the marriage or whose value is increase during the marriage.
When to Search for Hidden Assets
Uncovering hidden assets and proving they are divisible marital property can be a difficult and costly endeavor. Consequently, it’s important to consider cost-benefit when pursuing hidden assets. You should have a reasonable suspicion that your former spouse has concealed valuable assets before embarking on a fishing exposition. Attorney Anthony Abear can help you determine when hunting for hidden assets is a wise course of action and when your resources can be better spent elsewhere.
If you are involved in a divorce where hidden assets are a possibly, contact us to schedule a consultation and discuss your case.