When you end a marriage, there are countless factors to consider. You must endure losing some of your assets, make a parenting plan, and figure out what comes next. Depending on how your marriage ended, your spouse may not be civil about these things. One thing they can do to try to hurt you is hide money or assets from you. This action can result in serious consequences. A Metro East divorce lawyer can develop a strong case and determine the right course.

When you are going through the divorce process, you have to make the effort to protect yourself and your financial security. In fact, it’s largely recommended and encouraged that you do so, as long as you do so while following the law. Hiding assets in a divorce is illegal and can result in significant consequences for the spouse who tries to do it. Additionally, such actions are seen as flippant to the court and could result in a smaller settlement for the offending spouse.

Be Sure to Hire the Right Lawyer

Divorces can often be stressful, especially if your spouse decides to try to hide assets from you. That’s why it’s so important to hire an accomplished divorce lawyer for your situation. Having an experienced professional take control of your case can provide you with peace of mind that your case is in the right hands. At Stange Law Firm, our multi-state team can provide you with a focused and empathetic approach. We’ve helped many clients work through their divorces.

It may benefit you to understand the rates of divorce and marriage in Illinois. Recognizing how many other people go through this can validate your decision to end your marriage. According to recent data from the Centers for Disease Control (CDC), the divorce rate in Illinois is quite low at 1.2 per 1,000 citizens in 2023. Additionally, the marriage rate is high, with over 50% of polled individuals identifying as married, according to a poll from the IDPH.

Enduring a divorce can be stressful, complicated, and have a serious negative effect on your mental health. There’s nothing wrong with asking for help and taking care of yourself. You may want to think about contacting a local support group like Moving Forward Through Divorce or DivorceCare. Having someone to talk to who may be going through a similar situation can be healthy for your overall healing journey. Sometimes, it’s just good to talk through everything.

Signs That Your Spouse Is Hiding Assets

If your spouse decides to hide things from you during divorce proceedings, it may not be the first time that they’ve shown signs of financial control or financial secrecy. In fact, this could be an ongoing pattern in your marriage that you are only just now beginning to notice. There might be signs in your marriage that something is amiss. Here are some of the potential signs of financial abuse that you may want to be cognizant of:

  • One of the strongest warning signs is a total refusal to even discuss money in your relationship. There’s nothing inherently bad about having a conversation with your spouse about money. If they argue that there is, they may be hiding something from you. You may want to contact your bank and take a look at your money for yourself.
  • Another strong warning sign is any attempt to obscure your finances. This behavior can take the form of sudden and large cash withdrawals, transferring money to friends and family, or hiding your joint financial records. Your spouse may be trying to confuse you by hiding your money in different places, like with family. 

FAQs

Q: Is It Legal to Look Into My Spouse’s Finances?

A: No, it is not legal to look into your spouse’s finances, particularly if they don’t know you’re investigating them. Such actions could lead to harsh legal penalties. However, there is a way around that. During the divorce, you can request a full financial audit of your spouse’s accounts during the discovery process. Your lawyer is well within their rights to insist on a full accounting of your spouse’s financials, which is necessary during divorce.

Q: Which Assets Are Not Applicable in an Illinois Divorce?

A: In most cases, separate property is not applicable in an Illinois divorce. Any property that was owned prior to marriage and can be proven to be the sole property of one spouse will not be divided during asset division. This also includes inheritances and gifts given to just one spouse. Any property gained or received throughout the marriage is eligible for asset division in accordance with the equitable distribution model.

Q: Is Hiding Assets Illegal in Illinois?

A: Yes, hiding assets is illegal in an Illinois divorce. If your spouse tries to hide money, property, or any other marital assets and is caught, they could face substantial consequences imposed by the court that include hefty fines or jail time. They will almost certainly be vilified by the court, and their share of the divorce settlement could be reduced substantially. Your lawyer can help you find evidence of their actions and share it.

Q: Should I Hire a Lawyer for My Divorce?

A: Yes, you should hire a lawyer for your divorce. If your spouse is willing to hide assets from you, they may engage in additional behaviors that could hurt your position. Having an experienced divorce lawyer on your side can give you peace of mind that your case is being handled professionally. They can give you sound legal advice, defend your situation throughout, and ensure that nobody takes advantage of you during this emotional time.

Contact a Lawyer Today

At Stange Law Firm, we can help you put together a strong case for your divorce and discover if your spouse is hiding money from you. Having an experienced, focused lawyer on your side can often be the deciding factor between success and failure in your divorce. Contact us to have a conversation with a valued member of our legal team about what we can do for you and your case.