Uncovering Hidden Assets in Divorce Property Division

Chicago Divorce Property Division Attorney

Helping Clients Uncover Hidden Assets in Divorce Property Division

Hidden assets frequently come into play during the divorce of high net worth clients and those with complex marital assets, such as a small business or real estate investments.  Unfortunately, all too often, spouses rely on the other spouse to be truthful with respect to financial issues, but this is frequently not the case.  For instance, one spouse may hide the true extent of his or her earnings during the marriage, the existence of certain assets, or the incurrence of marital debt.

When a client suspects a spouse of hiding assets during divorce proceedings, our skilled Chicago divorce attorney thoroughly investigates the claim and vigorously fights to protect his clients interests in a court of law.  He consults with a team of educated forensic analysis and valuation experts in order to ensure that the nature and value of the marital estate – including debts and complex marital assets – are properly characterized and valued.

In order to properly uncover hidden assets, knowledgeable Chicago hidden asset attorney, Elliot Heidelberger along with his team of investigative experts, learns about the ways in which the divorcing spouses handled their finances. Such as whether the couple maintained joint or separate bank accounts or both, whether one spouse maintained control over the family’s financial decisions, and whether one spouse managed the family’s living expenses.

Along with property division forensic analysts, our knowledgeable Chicago hidden asset attorney will examine sources of income available to the family and how the family spent money.  Frequently, one spouse will have more knowledge with respect to financial information, including salary and income, taxes, and expenses.  In these cases, Elliot Heidelberger takes the time to educate his client on the nature of the financial realities of the couple in order to work through any accusations of suspected hidden assets.

Importance of Advance Planning

All too often, a spouse will be caught off guard in a divorce.  Advance planning and preparation can go a long way in preventing the existence of hidden assets.  For instance, if you anticipate divorce, you should consult with financial advisors and legal advisors, such as the Chicago divorce attorney, Elliot Heidelberger in order to understand the divorce process.  You should also take the time to learn more about your family financial situation, including actual earnings, income, debts and any potential hidden assets.  Our compassionate Chicago divorce attorney will work with you prepare for a divorce filing in order to assemble all of the necessary information, documentation, and resources so that you are prepared for the divorce proceedings and property distribution.

If you expect a divorce to be imminent in your future or you are already involved in divorce proceedings and suspect your spouse of hiding assets, do not hesitate to contact Illinois divorce attorney, Elliott Heidelberger at our Naperville or Hanover Park offices (847) 497-5020