What are the signs your soon-to-be-ex might be hiding assets?
Illinois is an equitable distribution state, meaning that when you divorce, your property would not necessarily be divided 50/50, but would depend on your case. This would mean that, were your case to go to court, the judge would consider the circumstances of both you and your spouse in considering how to divide the property accrued during your marriage. Depending on whether you were the main breadwinner of the family, or if you stayed at home and did not work, how the marital property is divided could have a significant impact in the coming months after your divorce.
Regardless of your financial situation, you are entitled to the assets that would be legally yours at the end of your marriage. If your spouse is hiding assets, this is not only unfair to you, but illegal. So how can you tell if he or she is being sneaky about funds or property? The following points are signs that might alert you to possible hidden asset fraud:
- Saying he or she is broke but posting pictures on social media of expensive vacations or nights on the town
- Not allowing you access to bank account information or opening a new account and not putting your name on it
- Diverting bank statements from your home mailbox to mail delivery somewhere else, or switching to electronic bank statements sent only to his or her email
- Buying expensive or luxury items like artwork, jewelry or vehicles, especially if this behavior is unusual
- Asking you to sign documents without properly explaining them or letting you read through them
- Any other behavior that just gives you a “gut feeling”
Of course, you might have already learned to trust your intuition by now, but in many cases, divorce fraud can seem to come out of nowhere. This can be devastating if you find out after the divorce is final that your spouse had been hiding assets. You will need to contact an experienced family law attorney as soon as possible about the matter. At The Law Offices of Michael P. Doman, we will take the time to investigate all aspects of your case and do our best to uncover marital property that you are entitled to.