The Law Office of Matthew M. Williams, P.C.

630-409-8184

1444 North Farnsworth Avenue, Suite 307, Aurora, IL 60505

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Illinois divorce attorney, Illinois family lawyer, Illinois child custody lawyer,It is extremely important to understand your financial situation, especially if you are getting a divorce. It is not uncommon for people to try to keep certain assets from their spouses when it comes to dividing them during a divorce. Unfortunately, nearly 15 million Americans reported that they have at least one bank account or credit card account that their live-in partner does not know about. Though you may think it is difficult to figure out if your spouse is hiding assets from you, it can become obvious if you know what you are looking for. Here are five signs that your spouse may be hiding something:

You Notice an Increase in Transactions on Your Bank Statements

You should know your spouse’s spending habits better than anyone. If you notice unusual transactions or purchases, it could be a sign that he or she is trying to cover their trail. An increase in large purchases, such as cars, artwork or jewelry could be a sign that your spouse is trying to convert their cash to physical assets. Unusual ATM transactions could be a sign that your spouse is moving money from a joint account to a secret account.

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Posted on in Division of Property

hiding assets, Illinois divorce attorneyFor some, the most painful part of a divorce is the division of the marital property. Illinois law requires judges to divide the marital property equitably. This means dividing the property fairly based a set of factors. However, if your spouse is hiding assets, you are at a disadvantage. You may get less than your fair share of the marital property. While there are many ways to hide assets, often they are in plain sight if you know where to look.

Electronic Discovery

One favorite technique of fraudsters is to withdraw money over time from the marital bank accounts and deposit the money in a secret account. Sometimes the secret account will be in the name of a friend or romantic partner to help avoid detection. But, because almost everything is now online, chances are that your spouse either checks the balance online or gets regular account updates via email.

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The Law Office of Matthew M. Williams, P.C.

630-409-8184

1444 North Farnsworth Avenue, Suite 307, Aurora, IL 60505

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