How to Protect Your Right to a Fair Divorce Settlement if a Spouse is Hiding Money

 Posted on June 05,2018 in DIvision of Property

In an Illinois divorce, parties are supposed to equitably split their assets. Unfortunately, there are spouses who will go to extreme lengths to conceal marital assets so that they can obtain more than their fair share. This act, known as asset hiding, often begins long before the start of a divorce, which can make it all the more difficult for one to track down hidden money. Thankfully, disadvantaged spouses do have some resources at their disposal. Learn more about them in the following sections, and discover how a seasoned divorce attorney may be able to help you determine whether asset hiding may have been an issue in your marriage.

Women Uncovers Multiple Properties in Divorce Proceedings

For decades, an Australian woman lived on a strict budget. Her husband, who worked and handled all the finances, had told her that they did not have enough money to meet their basic living expenses, so she scrimped and saved as much as she could while raising their children. When she finally decided to leave him, she went to an attorney to try and determine how much her settlement might be. That is when her attorney discovered that he owned a total of 15 properties. The woman, shocked but also relieved, sought her fair share of the assets. Her lawyer managed to get her a settlement that amounted to half of all the marital assets. While it is unfortunate that she did not discover the assets sooner, the outcome of her case was positive because, for the first time in her life, she could live comfortably.

Uncovering Assets in Your Illinois Divorce

While you are not required to hire an attorney for your divorce, the case of the Australian woman shows just how much one can benefit you in a case with hidden assets. She did not have to track the money down on her own, and she had an advocate to protect her interests during the entire process. You, too, can increase your chances of a fair settlement by ensuring you have a seasoned divorce lawyer on your side. Just be sure that you choose one that is experienced in handling hidden asset cases, as these are specialized situations that typically require a skilled team of legal and financial professionals.

Contact Our Wheaton Divorce Lawyers

Backed by more than 40 years of experience, the seasoned legal team at Stock, Carlson & Asso. LLC can protect for your best interests in a hidden asset case. We work closely with other professionals to help ensure you obtain the settlement that you deserve, and we aggressively pursue the most favorable outcome possible. Schedule your personalized consultation with our DuPage County divorce lawyers today. Call 630-665-2500.

Source:

https://www.news.com.au/finance/money/wealth/shocked-woman-finds-out-she-owns-15-properties/news-story/9f1611f88a57c7f54b0928c397960dbe