Grotta & Associates, P.C.

Call Us Today: 708-873-9500

REVIEW US
  • Home
  • Practice Areas
    • Divorce Issues
    • Parental Rights
    • Other Family Law Matters
  • About
    • Your First Meeting With Us
    • Firm News
    • Grotta, Thomas E.
    • Marks, Kelly D.
    • Russo, Steven S.
  • FAQ
    • Who Needs A Prenuptial Agreement?
  • Reviews
  • Blog
  • Contact
Grotta & Associates, P.C.

708-873-9500

  • Home
  • Practice Areas
    • Divorce Issues
    • Parental Rights
    • Other Family Law Matters
  • About
    • Your First Meeting With Us
    • Firm News
    • Grotta, Thomas E.
    • Marks, Kelly D.
    • Russo, Steven S.
  • FAQ
    • Who Needs A Prenuptial Agreement?
  • Reviews
  • Blog
  • Contact
REVIEW US

How do you uncover hidden assets during divorce?

On behalf of Grotta & Associates, P.C. | May 4, 2020 | Firm News |

Many spouses hide assets from one another during or leading up to divorce. There could be some serious consequences if your spouse gets caught doing this during a formal discovery process. 

Unfortunately, by the time your divorce gets to court, your spouse may have already had ample opportunity thoroughly hide assets or destroy records. That is why a proactive approach is usually wise. 

What is subject to division? 

As explained on FindLaw, asset division typically goes well beyond tangible valuables, such as cars, houses and so on. It includes most joint assets you would have developed with your spouse over the course of your marriage, such as retirement accounts, employment benefits and nearly every other type of investment. Even if only one of you made the decision to invest, a given item would probably still be a marital asset. 

Some of these on-paper holdings are relatively difficult to hide. For example, a joint banking account that both of you have access to would probably not be anything you have to worry about. Others might require preemptive action if you want to make sure your divorce agreement includes them in their entirety. Specifically, you may want to follow up on suspicions or search records for assets that are unknown to you. 

Where do people hide assets? 

Because these assets are usually not tangible, they do not always have a physical location. However, evidence of them could hide in plain sight. For example, your spouse might keep account numbers, disclosures or paper statements in a filing cabinet in your home. 

Other assets could hide in your household’s balance sheets. For example, there could be evidence of surreptitious purchases of securities, art pieces, collectibles or jewelry in large discrepancies between earnings, losses, expenses and current account levels. 

In general, the assets your spouse is most likely to hide from you during divorce would be the assets that you do not yet know about. Letting this idea guide your initial search could be a good overall strategy. You may also want to consider using forensic accounting if suspicions remain after you look yourself. 

Recent Posts

  • Is it worth it to hide assets during your divorce?
  • 3 ways to stop parental alienation in your post-divorce family
  • What is parental alienation syndrome?
  • What should you know about the acceptance of benefits doctrine?
  • Significant issues in a gray divorce

Archives

  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016

Categories

  • blog
  • Child Custody
  • Divorce
  • Family Law
  • Firm News
  • Uncategorized

RSS Feed

Subscribe To This Blog’s Feed

FindLaw Network
Rated By Super Lawyers Thomas E Grotta 10 Years
National Association of Distinguished Counsel 2019
Leading Lawyers Thomas E. Grotta Peer Selected 2018
Leading Lawyers Kelly D. Marks Peer Selected 2018
National Association of Distinguished Counsel 2018
Leading Lawyers Kelly D. Marks Selected 2017
10 Best 2017 Female Attorney Client Satisfaction
emerging lawyers Kelly D. Marks Selected in 2016
Attorney And Practice Magazine's Family Law Top 10
10 Best 2015-2016 2 Years Client Satisfaction
Illinois State Bar Association
The Chicago Bar Association Founded 1874
Illinois Trial Lawyers Association
Will County Bar Association
Top Attorneys Thomas Edward Grotta 2018
Top Attorneys Thomas Edward Grotta 2018

Get Experienced Legal Help You Want

22 W. Washington Street
Suite 1500
Chicago, IL 60602
MAP & DIRECTIONS
18927 Hickory Creek Drive
Suite 115
Mokena, IL 60448
MAP & DIRECTIONS
1 S 660 Midwest Road
Suite 320
Oak Brook Terrace, IL 60181
MAP & DIRECTIONS
63 W. Jefferson
Suite 100
Joliet, IL 60432
MAP & DIRECTIONS

Phone: 708-873-9500
Fax: 708-873-9555

  • Follow
  • Follow

© 2021 Grotta & Associates, P.C.. All Rights Reserved.

Disclaimer | Site Map | Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters