It’s understandable to feel betrayed, worried, confused, or even somewhat vengeful when you are going through a divorce, especially if you are the aggrieved party. Working out an amicable solution with your ex may be impossible if they decide to be petty or difficult. You may want to find some way to make things difficult for them. Whatever you do, you should never attempt to hide assets from the court. Speak with a Bloomington divorce lawyer to learn more.
Hiding assets in a divorce is illegal in Illinois, as it is in most states. When you are dealing with a contentious divorce, the family court expects both parties to adhere to a certain degree of respect and transparency throughout the entire process. An important part of this process is revealing a complete list of your assets, both marital and separate property, to the court. If they learn one spouse is hiding assets, that spouse could face contempt charges or worse.
Why Hire a Divorce Lawyer?
When you are dealing with a contentious divorce, you will want the right support by your side as you prepare for negotiations and possibly a courtroom. Contested divorces, especially ones involving hidden assets, can get personal, vindictive, and complicated very quickly. At Stange Law Firm, our multi-state legal team can provide you with the resources you need to handle your divorce the right way. We can give your case a personalized and empathetic approach.
It may be important for you to recognize divorce and marriage trends in your state, as it can help you feel less alone in your situation. According to fairly recent statistical data collected by the Centers for Disease Control, Illinois has a considerably low divorce rate at 1.1 per 1,000 residents as of 2022. However, the marriage rate is awfully high, with a recent poll by the Illinois Department of Public Health seeing over 50% of polled individuals identifying as married.
There’s nothing wrong with asking for help in a divorce. This may be the most emotionally difficult event of your life. You want to make sure you do everything right, and that includes taking care of your own emotional needs. You may want to consider reaching out to a local divorce support group like DivorceCare for help. Talking to people who have been through similar situations can be beneficial to your own healing journey. They can help you cope.
Warning Signs of Hidden Assets
In most cases, if your partner is hiding something from you, there may be telltale signs you can watch out for. It’s important to note that these signs are not automatic giveaways that your spouse is hiding assets from you. However, they can indicate that possibility. If you learn that your spouse is hiding assets, tell your lawyer. They can help you gather evidence for the court. Here are some potential warning signs that your spouse is hiding assets from you:
- One of the most glaring potential signs of hidden assets is financial secrecy. There’s nothing wrong with discussing your finances openly. If your spouse has tried to gaslight you in the past and convince you that discussing money is inappropriate or taboo, that could be a sign that they are hiding something they don’t want you to uncover. You may be dealing with financial abuse. Find a way into your accounts if you are blocked.
- Another significant potential sign is financial control. If your spouse refuses to let you look at bank statements or credit reports, that could be a sign that they are hiding something. You may be in a situation where your spouse insists on controlling both of your finances. It may not have been a problem or even something you thought about often, until now. Consider hiring a forensic accountant to give you answers.
FAQs
Q: Am I Allowed to Investigate My Spouse’s Finances Without Consent in Illinois?
A: Generally, you are not allowed to investigate your spouse’s finances without consent in Illinois. However, things may change during a divorce. A significant part of the divorce process is the discovery phase. In this phase, both lawyers share the evidence they have and are allowed to request certain information. Your lawyer can legally request your spouse’s financial documents to ensure they are being wholly transparent about all their assets.
Q: What Is the Most Obvious Warning Sign to Watch Out for?
A: There is no automatic, obvious warning sign to watch out for. Not every spouse who hides assets does so in an obvious way that will get them caught. Sometimes, they’re good at keeping secrets. In many cases, a general refusal to even talk about money is a solid warning sign you may want to pay close attention to just to be safe. However, that may not be a sign that they are hiding assets. There are never any guarantees.
Q: Is It a Crime to Hide Assets in an Illinois Divorce?
A: Yes, it’s a crime to hide assets in an Illinois divorce. The court always expects both parties to be totally honest and respectful of the court’s time. If they discover that one spouse is actively hiding assets to avoid giving the other spouse additional financial resources, they could face potential criminal charges and even jail time. At the very least, such actions will vilify them in the eyes of the court, which will likely positively affect your own settlement.
Q: Should I Hire a Divorce Lawyer?
A: Yes, you should always hire a divorce lawyer, especially when dealing with a contentious divorce that involves hidden assets. Contested divorce can be unpredictable and emotionally devastating to you. Having the right lawyer in your corner to handle the details of your case and protect your interests can make all the difference. Your lawyer can consistently advocate for you, provide you with legal advice, and ensure you don’t get taken advantage of.
Contact Us Today
At Stange Law Firm, we know the kind of legal help you will need to come out of your divorce relatively unscathed. Contact us to speak to a member of our team who can help you determine the appropriate course of action for your case.