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What is the involuntary disclosure process in property division?

Mistrust is something that is common among spouses who are going through a divorce, and it is often justified. Many people in Illinois have had to go to great lengths to discover assets that soon-to-be exes tried to keep out of the property division process. Both spouses are expected to disclose all assets, including bank accounts, real estate, cars and more, and some steps can be taken by someone who suspects assets to be concealed.

Clues to secret accounts might be hidden in the bank statements and other documents that are provided voluntarily. Transfers to other accounts and missing statements might indicate hidden assets. It might be wise to look out for hidden Bitcoin accounts also. If examination of the provided documents does not remove suspicion, a formal request for involuntary disclosure can be made.

This process involves a deposition under oath, which might deter the other spouse from lying. Information about bank accounts, trust and estate documents, tax filings, and more can be demanded during these interrogatories. Tax documents might indicate that refunds were paid into hidden bank accounts or used to purchase Bitcoin.

Anyone in Illinois who is in the throes of divorce has the right to his or her fair share in the process of property division. However, with all the other pressing issues, such as those involving child custody and parenting plans, hidden assets might not be found without help. An attorney who is experienced in all divorce-related matters, including seeking and revealing hidden assets, can provide the necessary support and guidance.

Source: FindLaw, "How to Find Hidden Bank Accounts in Divorce", Molly Zilli, May 4, 2018

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Courtney ∙ Clark Law, P.C.
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Belleville, IL 62220

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