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posted on 1/12/19

While most couples seek to resolve divorce issues through a smooth, amicable process, the proceedings can also bring out the worst in some people. One spouse may be tempted to conceal assets out of spite, knowing that keeping them out of court could lead to a better outcome in the case. An experienced Illinois divorce and division of marital assets attorney can assist if you suspect some type of misconduct, and an overview of finding hidden property may also help.

Why it is Essential to Locate Hidden Assets in Divorce

Two key aspects of the Illinois divorce process are dependent upon an accurate assessment of the value of the marital estate:

  • Division of marital assets; and
  • Spousal support.

If one person is hiding income or property, it is not possible for the court to make a fair, equitable division of assets between the parties. The arrangement is likely to favor the spouse who is concealing property or information because he or she will retain ownership in addition to what the judge orders in asset division. The same is true for spousal support: Not including certain assets as part of the marital estate means alimony will be skewed in favor of the spouse who is concealing them.

Illinois Tools for Finding Concealed Assets

The Illinois Code of Civil Procedure on discovery allows various tools that parties can use to obtain information about court cases. These rules also apply to divorce proceedings. To identify and located assets, the parties have access to:

  • Requests for Production of Documents: Through this method, you can obtain tax records and other paperwork that indicates the existence of both physical and financial assets.
  • Requests to Admit Facts: This tool enables you to state certain facts, and ask the other party to admit or deny them. Because they are sworn to under oath, there are serious consequences for perjury.
  • Written Interrogatories: This type of discovery involves a series of questions your attorney asks the other party in a divorce case. Through the answers, you can locate assets or get information that leads to additional details.
  • Depositions: This is an in-person interview in which your lawyer asks questions about property and its whereabouts. The answers are provided under oath, so false or misleading statements can lead to perjury sanctions.

Penalties for Hiding Property

Some forms of discovery require a sworn statement by the party providing the information, which is the equivalent of testifying under oath in court. There are severe penalties for lying or not giving full disclosure. In a divorce case, a judge may order sanctions for perjury. The wrongdoer may have to pay fines, court costs, and/or attorney’s fees to the other party.

Talk to a Knowledgeable Illinois Divorce Attorney About Hidden Assets

If you believe your spouse is concealing property in connection with Illinois divorce proceedings, please contact Glasgow & Olsson right away to discuss your options. We have helped many clients in Cook, Lake, DuPage, and McHenry Counties in recovering assets and bringing them properly before the court. You can reach us at 847.577.8700 or go online to set up a consultation regarding your situation.

(image courtesy of Tim Evans)