Attorneys Discuss Discovery in Divorce in Chicago

Speak With Our Chicago Divorce Lawyers About the Discovery Process

Every marriage began at some point with two people ready, willing, and able to commit to each other for a lifetime. Yet, in the course of building for what is ahead, one spouse or the other may have experienced dissatisfaction, unhappiness, or even infidelity, leading them to make the difficult decision to end their marriage.

In the landscape of divorce proceedings, the discovery process emerges as a pivotal mechanism to ensure transparency and fairness in asset division. Discovery involves the systematic exchange of financial and personal information between divorcing spouses, serving as a foundation for equitable distribution of property and assets. This phase is instrumental in unearthing hidden assets, such as undisclosed bank accounts or covert business interests, thereby safeguarding the interests of both parties involved.

Chicago divorce attorneys play a crucial role in guiding their clients through the discovery process, ensuring that all pertinent financial documents are disclosed and that any attempts at asset concealment are addressed. Given the nature of divorce proceedings, on top of the added emotional toll, this significant disruption is sure to impact the financial future of both parties and more.

With over 30 years of experience, Nottage and Ward, LLP, is here to help you uncover any financial details and other important evidence that will impact what you walk away with in this chapter of your life. Call our firm to speak with one of our Chicago divorce lawyers at (312) 332-2915.

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What Is "Discovery" in Divorce?

The goal of the discovery process is to identify and define income, assets, and liabilities of the parties, as well as any information that may be relevant to determining the allocation of parenting time and decision-making. In other words, it is an exchange of information designed to identify income, assets, debts, and information regarding the children.

Discovery can be done formally or informally, depending on the level of contentiousness between the parties or the tone of the divorce process. In informal discovery processes, a simple email request may be followed with handing over relevant information. In more complex or heated situations, however, the formal process may be wise and/or necessary. These may include any one or all of the following:

• Document Production: Requesting all necessary and relevant documentation from the opposing party, supporting a position on the divorce, financial or economic status, and more.
• Interrogatories: Sending written questions to the opposing party with a deadline to respond (usually 28 days.)
• Depositions: Delivering statements under oath in real-time question-and-answer environments, recorded in detail by a court reporter and attended by all divorce attorneys.
• Subpoenas: Directing document requests to outside institutions with relevant knowledge or information, such as a bank for account records.
• E-discovery: Gaining information on the party's digital life, including computer information, social media information, cellphone information, and possibly more.
• Forensic Accounting: Financial specialists meticulously analyze documents to identify inconsistencies or unusual transactions, ensuring that all financial activity is accounted for.
• Private Investigator: Engaging a private investigator can reveal undisclosed assets, such as real estate properties or hidden bank accounts, through thorough investigation.

Each method serves to ensure that all assets are brought to light, preventing one party from unfairly benefiting at the expense of the other. These strategies are essential for achieving an equitable resolution, as they help ensure that the court considers the true extent of the marital estate.

Types of Assets Revealed

During the discovery process, a wide range of assets can be uncovered, ensuring a comprehensive view of the marital estate.

• Bank Accounts: Both savings and checking accounts must be disclosed, offering insight into available cash reserves and spending habits.
• Real Estate Holdings: This includes primary residences, vacation homes, and any investment properties, all of which contribute significantly to the marital estate's value.
• Investments: These encompass mutual funds, bonds, and other financial securities, revealing the family's long-term financial strategy.
• Business Interests: Ownership stakes or shares in businesses can be complex but are vital to understanding a spouse's financial stability and future earning potential.
• Stock Portfolios: Stocks provide insight into another dimension of investment, affecting both current wealth and future financial projections.
• Subtle Assets: Items such as gifts or inheritances might not be immediately apparent but can significantly alter asset division if brought to light.

It is not uncommon for spouses to overlook or intentionally omit these items, which can significantly alter the financial landscape. Chicago divorce lawyers are adept at identifying and valuing such assets, ensuring that their clients receive their fair share. This detailed scrutiny is crucial for achieving an equitable division. Furthermore, understanding the full scope of the marital assets can influence related decisions, such as those concerning maintenance or child support, thereby impacting the overall outcome of the divorce settlement.

Is Crypto Considered a Hidden Asset?

Cryptocurrency, given its digital and often anonymous nature, poses unique challenges in divorce proceedings. It can be considered a hidden asset if not properly disclosed during the discovery process. Cryptocurrencies like Bitcoin or Ethereum can be stored in digital wallets, making them less visible than traditional financial assets. This can lead some individuals to mistakenly believe that they can conceal such holdings from their spouse or the court. However, Chicago divorce attorneys are increasingly aware of the presence and implications of cryptocurrencies in asset division. They work diligently to uncover these digital assets through a thorough examination of financial records and digital footprints. Courts may require full disclosure of all cryptocurrency holdings, treating them as part of the marital estate subject to division. Recognizing cryptocurrency as a potential hidden asset ensures a fair and transparent settlement process, aligning with the broader goal of equitable distribution in divorce cases.

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How a Spouse Can Hide Assets in a Divorce

When you are going through a divorce with a bitter spouse, you might be dealing with a soon-to-be former partner who will try to evade the rules when it comes to the division of marital assets. If he or she saw the divorce coming, then the other spouse might have already started preparing for it by researching tactics and trying to hide as much of what should be disclosed as they could. This may include and might not be limited to:

• Deceptive tax returns and other financial documents
• Child custodial accounts containing transferred marital funds
• Complex investment accounts with income not immediately transparent
• Retirement accounts hidden from the marriage
• Other sources of cash arranged with family, friends, and business partners
• Collectibles, antiques, and other memorabilia

In Illinois, a spouse hiding assets in a divorce can be very costly to you if they are not uncovered. Not bringing to light secretive assets affects you because you will be getting less than what you are entitled to in your divorce. This is why a thorough discovery process is vital in your divorce proceedings. Our divorce attorneys at Nottage and Ward, LLP, will do the work to expose relevant evidence, moving toward the desired result of what is fair to you as your marriage comes to an end.

Legal Consequences of Non-Disclosure

Failing to disclose assets during divorce proceedings can lead to serious legal consequences. Courts view non-disclosure as a breach of trust and integrity, which can significantly affect the outcome of the case. If a spouse is found to have concealed assets, the court may impose sanctions, such as fines or awarding a greater share of the marital estate to the other party. In some instances, the offending spouse might also face contempt of court charges, which could result in penalties including jail time. Beyond these immediate consequences, non-disclosure can damage a party's credibility, influencing the court's decisions on maintenance, child support, and other related matters. Chicago divorce attorneys advise full transparency to avoid such repercussions and to maintain the integrity of the legal process. Ultimately, honesty in disclosure not only aligns with legal obligations but also fosters an environment conducive to reaching a fair and equitable divorce settlement.

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Can Social Media Posts Affect Your Divorce?

In this digital age, you need to know how to handle social media during a divorce. Anything you say or do on these online platforms can introduce a whole new layer of evidence during the discovery process, and it may negatively impact you if you are not careful. You will need to talk with a Chicago family law lawyer to get a more complete picture of what might be at stake after a post about your divorce, but this may include:

• Maintenance
• Division of assets
• Division of debt
• Child allocation
• Child support
• Parenting time

Text messages, emails, Facebook Messenger chats, and other digital correspondence may be subpoenaed and investigated. It is best to keep sensitive information private. For example, if you are claiming financial hardship, posting photographs about your tropical vacation may disprove your hardship claim. Inconsistencies between divorce-related information you provide in court in court and what you casually share online will not be favorable to you.

Essentially, much like the rule about not putting anything out in public that you would not like your mom to see, keep in mind that such information may also persuade the judge against you on issues pertaining to your divorce. Also, be mindful that erasing information once a divorce has begun may backfire, as it could be seen as evidence-tampering and may, ultimately, be recovered anyway. Both your and your spouse's digital activity can be tracked.

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Chicago Divorce Lawyers' Role

Chicago divorce attorneys aim to resolve disputes amicably, but they are also prepared to litigate if necessary to protect their client's rights. Ultimately, their goal is to achieve a balanced settlement that provides a stable foundation for their client's post-divorce life. Additionally, by combining legal acumen with empathy, Chicago divorce attorneys strive to secure outcomes that allow their clients to move forward with confidence and stability, laying the groundwork for a new chapter in life.

Ensuring Fair Asset Division

Chicago divorce lawyers play a pivotal role in ensuring fair asset division during divorce proceedings. Their knowledge enables them to navigate the complexities of financial disclosure, advocating for their client's interests. They meticulously review financial documents to ensure that all assets are identified and accurately valued. By utilizing legal tools such as subpoenas and interrogatories, they safeguard against the concealment of assets.

Attorneys also negotiate on behalf of their clients, striving to reach settlements that reflect an equitable distribution of the marital estate. Their understanding of Illinois divorce laws and court precedents allows them to provide informed advice, helping clients make decisions that align with their long-term financial well-being.

Getting You a Fair and Positive Outcome

Achieving a fair and positive outcome in divorce proceedings is the primary objective of Chicago divorce lawyers. They understand the emotional and financial stakes involved and work diligently to protect the interests of their clients.

By fostering open communication and advocating for equitable asset division, attorneys also aim to reduce conflict and facilitate a smoother transition for both parties. They provide strategic guidance throughout the process, ensuring that clients understand their rights and options.

In cases where negotiations stall, lawyers are prepared to represent their clients vigorously in court, presenting evidence and arguments to secure favorable judgments. Beyond asset division, they also address issues of maintenance, child support, and allocation of parental responsibilities, ensuring comprehensive resolutions that reflect their clients' needs.

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Our Chicago Divorce Attorneys Can Help

The path to resolution of a divorce case is complex, and you should not travel it alone. Depending on the financials and other related matters you will have to sort through—even new information you might learn—the Chicago divorce attorneys at Nottage and Ward, LLP, can help.

Our lawyers have the experience and skills to help you navigate the discovery process. Call our firm at (312) 332-2915 and speak with one of our Chicago divorce lawyers.

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Additional Information

• Can Social Media Posts Affect Your Divorce Case?
• Your Secret Stash Of Cash Won’t Be So Secret When Going Through A Divorce
• Electronic Discovery Upsets Status Quo: Is All Fair In Love And War?