As part of a divorce, both spouses are expected to provide full financial disclosure in order to equitably divide marital property. However, it is not that uncommon for one spouse to conceal certain assets in an effort to keep more of the marital bounty. Hidden assets might include money temporarily transferred to a family member or close friend to be returned after the divorce is finalized. It could also include hidden stock options, cryptocurrencies, or money transferred into off shore accounts, often more difficult to examine or track.
If you believe your spouse is hiding assets from you in your divorce, it is important to seek experienced legal representation. Your attorney has tools at their disposal such as a formal legal process called discovery, which can uncover hidden assets.
Your attorney can ask your spouse to produce specific documents such as tax returns, financial statements and account records. He or she can also pose questions to your spouse called written interrogatories where your spouse responds in writing – “on the record” – to specific statements or engage in an oral “deposition” where testimony is given under oath.
Suspect Hidden Assets in Your Divorce?
Contact an Experienced Illinois Marital Property Division Attorney for Help
The discovery process often yields results, uncovering cryptocurrencies and other assets that will be divided as marital property. Certainly, having your spouse go on record can provide a means to recover assets discovered only after a divorce is finalized. If you have questions regarding marital property division, contact the law offices of Schlesinger & Strauss. at 847-680-4970 for answers.
