Seven Signs Your Spouse May Be Hiding Assets

 Posted on December 27,2019 in Division of Assets

Illinois is an equitable distribution state, meaning that when you get a divorce, not everything you and your spouse acquired, such as property and assets, will be divided equally.

If you and your spouse cannot come to an agreement on how to divide your property and assets and decide to take your divorce to court, the judge will consider certain marital circumstances on how to divide your property, such as:

• Income
• Employment status
• Length of the marriage
• Whether a spouse is receiving spousal support/maintenance

However, if your spouse is hiding assets from you in hopes they will not have to split it with you, things can get even more complicated.

When You Should be Worried

The following are red flags that might warn you that your spouse is committing hidden asset fraud:

1. Having complete control over bank statements and accounts. Does your spouse keep you in the dark regarding bank account information and/or passwords? Keeping your financial situation a secret is wrong, especially if that money is yours.
2. Owning a separate and private mailbox. If you believe your spouse is receiving mail at a different address than the one you share, contact an attorney immediately.
3. Purchasing big-ticket items. If your spouse is spontaneously living lavish and going on ludicrous vacations, purchasing a brand new car, or has randomly taken an interest in expensive artwork, they may be hiding a lump sum of cash from you.
4. Demanding your signature on financial documents. Before you sign anything, be sure to read through the entire document and fine print carefully.
5. Complaining about money. Has your spouse begun to complain about financial matters? He/she might be trying to trick you into thinking there isn’t any money when there really is.
6. Suspicious activity on the computer/phone. If you notice the internet browser history is always cleared and/or there are locked files on the computer, your spouse may be trying to hide financial accounts or documents from you.
7. Sudden and/or frequent bank account activity. Noticing a large withdrawal from your bank account usually is not a good sign. Keep an eye out for suspicious activity, and talk to your spouse if you notice this has happened.

Contact a DuPage County Hidden Asset Divorce Attorney

Hiding assets is not only unfair to you, but it is also illegal. If you are worried your spouse has hidden assets, contact a skilled Elmhurst hidden asset divorce attorney. At Weiss-Kunz & Oliver, LLP, we have handled hundreds of hidden asset and high-net-worth divorces, and have acquired our client what is legally theirs. Contact us at 312-605-4041 today.

Source:

http://www.ilga.gov/legislation/ilcs/documents/075000050k503.htm