Signs Your Spouse is Hiding Assets

 Posted on January 30,2024 in Division of Assets

Marital property belongs to you and your spouse, not just your spouse. Almost any property either of you acquires during the time that you are married will be considered marital property in Illinois. There are a few exceptions, like proceeds from a personal injury lawsuit, a gift or inheritance meant for just one of you personally, or any premarital property that has not been contributed to the marriage, that can be considered separate property in most cases. However, income earned by either spouse and any asset that income is used to purchase or build is indeed marital property in the state of Illinois. If you are getting divorced and you suspect that your spouse may be hiding assets from you, it is important to consult an experienced Wheaton, IL, family law attorney. An attorney may be able to help you locate any hidden assets your spouse may have.

How Can I Tell if My Spouse Has Hidden Assets?

You may ultimately need to enlist an attorney to discover whether your spouse is keeping marital assets a secret. However, there are several clues you can look for that may suggest your spouse has wealth they are not telling you about, including: 

• Missing funds - Can you account for any cash withdrawals from your bank account? If your spouse is taking money out of your joint bank account and you do not know for sure what they are doing with it, they may be contributing that money to an investment or savings account you are unaware of. 
• Refusal to combine finances - Many married couples choose to keep their finances largely separate for many different reasons. However, if your spouse is adamant that you should not have a joint bank account or other joint financial accounts, it could be because they are hiding money. Could your spouse be lying about the amount of income they earn? Could they be receiving income from an asset you are unaware of?
• Unexplained mail from financial institutions - If you do not have an account with a certain financial institution, and yet your spouse consistently receives mail from that institution, they might have a secret account. The more secretive your spouse is about the mail they receive, the more likely it is that they have something to hide. 

Finding out that your spouse is hiding assets from you can be difficult, but it is better to know so that you can ensure that your rights are protected

Contact a DuPage County, IL, Divorce Lawyer 

Andrew Cores Family Law Group can help you discover whether your spouse is, in fact, hiding marital assets from you or failing to make full financial disclosure prior to signing a prenuptial agreement. Our dedicated Wheaton, IL, divorce attorneys will take care to ensure that you have an accurate picture of your marital finances. Contact us at 630-871-1002 for a complimentary and confidential consultation