What to Do If Your Spouse is Lying About Finances During a Divorce

 Posted on March 14,2019 in Divorce

There are many factors which can complicate a divorce. One of the biggest of these is an uncooperative or untrustworthy spouse. Ending a marriage is already challenging, but adding a spouse who is not forthcoming about his or her finances makes it even harder. If you considering divorce and worried that your spouse will attempt to hide assets, read on to learn about how you can protect your financial rights during your Illinois divorce.

Illinois Courts Need an Accurate Representation of Financial Status to Divide Property

Before marital property can be divided in a divorce, spouses must list their assets and debts in a financial disclosure. Once the spouses know their complete financial picture, they can begin deciding how this property should be divided between them. If the spouses cannot come to an agreement about property division, the court system will decide for them.

Property acquired before the marriage is usually considered separate property while any property acquired by either spouse after the marriage is martial property. There are certain exceptions to these general categorizations. For example, when marital and separate property is mixed together or “comingled,” it may be considered entirely marital property. Certain gifts and inheritances are also considered separate property even if they were acquired during the marriage.

It is important to account for all property because although you may not have ownership rights in your spouse’s separate property, Illinois court may consider the value of both spouses’ separate property when deciding how to divide marital property and debts. Sometimes divorcing spouses attempt to hide assets before or during a divorce so that they will not have to share the property or funds with to their soon-to-be-ex-spouse.

Get a Lawyer Now If Your Spouse is Hiding Assets

If your spouse has lied about his or her finances before or during divorce, it is likely that they will continue to be untrustworthy. Any indications of fraud or deceptive behavior on the part of your spouse might be a sign that you need a legal advocate to protect your rights. Your lawyer can help you analyze your situation and determine the best course of action moving forward.

Contact a DuPage County Divorce Attorney

The experienced Naperville divorce attorneys at Pesce Law Group, P.C. know that it can be incredibly taxing to divorce an uncooperative spouse. We can help you achieve the favorable resolution you deserve. Call 630-352-2240 to schedule your free consultation with our dedicated professionals today.

Sources:

https://www.forbes.com/sites/jonathanboyar/2019/02/12/value-understanding-hidden-assets/ 

http://www.ilga.gov/legislation/ilcs/documents/075000050K503.htm