Chicago Hidden Assets in Divorce Attorneys

Are You in Need of a Chicago Divorce Hidden Assets Attorney?

Divorce is an emotionally charged and often complex process. When significant assets are involved, the situation becomes even more difficult, especially if one spouse is attempting to hide assets. If you suspect that your spouse may be trying to conceal assets during your divorce, it is essential to work with a skilled Chicago hidden assets attorney.

At Nottage and Ward, LLP, our Chicago divorce legal team has decades of experience uncovering hidden assets and fighting to ensure our clients get the financial support they deserve. We work with financial experts like forensic accountants to reveal concealed assets.

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Why Choose Us Over Other Divorce Hidden Assets Lawyers

When it comes to protecting your financial future, experience matters. Here’s why Nottage and Ward, LLP stands out among divorce lawyers in Chicago:

• Over 35 Years of Experience: Our attorneys have over three decades of experience handling complex divorce cases, including those involving hidden assets.
• Proven Track Record: We have successfully uncovered hidden assets in numerous high-net-worth divorce cases.
• Comprehensive Family Law Assistance: We focus solely on family law, which means we bring a wealth of knowledge to every case.
• Personalized Attention: We understand that every case is unique, and we provide tailored solutions to meet your specific needs.
• Skilled Negotiators and Litigators: We are adept at negotiating settlements and fighting for our clients in the courtroom.
• Recognized in the Martindale-Hubbell Bar Register of Pre-eminent Lawyers – A distinction awarded for legal excellence and ethical standards.

Suspect Hidden Assets in Your Divorce?

Call Nottage and Ward, LLP today at (312) 332-2915 to uncover the truth and secure a fair settlement.

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How an Experienced Chicago Divorce Attorney Can Help

An experienced Chicago divorce hidden assets attorney can be invaluable in uncovering hidden assets and ensuring you receive a fair settlement. Here’s how Nottage and Ward, LLP can help:

• Investigating Financial Discrepancies: If you suspect that your spouse is hiding assets, your attorney can review financial statements, tax returns, and other documents to look for signs of hidden assets.
• Gathering Evidence: Your attorney will work with forensic accountants, financial experts, and investigators to track down concealed assets.
• Requesting Full Disclosure: Through the discovery process, your attorney can compel your spouse to provide detailed financial information under oath.
• Litigating in Court: If necessary, your attorney will take legal action to ensure that all assets are fully disclosed and that you receive a fair settlement.

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How Lawyers Find Hidden Assets

Chicago divorce lawyers use several methods to uncover hidden assets.

Discovery Process

The discovery process is a critical phase in any divorce case. This legal procedure allows both spouses to exchange information regarding their financial status, assets, and liabilities. Through formal requests for documents and written questions (interrogatories), your attorney can gather crucial information about your spouse’s assets.

• Document Requests: Your attorney can request bank statements, tax returns, real estate records, and business valuations to determine if anything has been omitted or undervalued.
• Interrogatories: Your attorney can ask questions under oath to compel your spouse to disclose all relevant financial information.

Subpoena

A subpoena is a powerful tool in the discovery process that allows attorneys to compel third parties, such as banks, employers, or business associates, to provide relevant documents or testify about the financial activities of your spouse. If your spouse refuses to provide full financial disclosure, a subpoena can force them to disclose assets and financial information that might otherwise remain hidden.

Forensic Accounting

Forensic accountants are experts in financial investigations and are often hired to identify hidden assets. They can examine tax returns, financial records, and bank accounts to trace discrepancies and uncover hidden resources. Forensic accountants can also help track assets that have been moved or disguised.

• Tracing Assets: Forensic accountants can follow the trail of money and uncover hidden bank accounts, investments, or properties that were not disclosed during the divorce process.
• Valuation of Assets: They can help assess the true value of assets and identify instances where assets were undervalued or misreported.

Get the Full Picture in Your Divorce!

Contact Nottage and Ward, LLP at (312) 332-2915 to learn more today.

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Why You Should See a Chicago Hidden Assets Divorce Lawyer Right Away

If you suspect that your spouse is hiding assets, it’s crucial to act quickly. The longer you wait, the more time your spouse has to move or conceal assets further. By consulting with a lawyer early in the process, you can begin uncovering hidden assets before they are completely buried.

An attorney will ensure that all necessary legal actions are taken to uncover assets and prevent your spouse from evading their financial obligations. Delaying the process can lead to missed opportunities, so it’s important to seek professional legal assistance as soon as you have concerns.

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Consequences of Hiding Assets

Hiding assets in a divorce is illegal and unethical. If your spouse is caught attempting to conceal assets, there can be significant consequences:

• Court Penalties: The court may impose penalties on the spouse who hid assets, including fines and a less favorable division of property.
• Re-opening the Case: If hidden assets are discovered after the divorce is finalized, the court may reopen the case to adjust the asset division and rectify the unfair settlement.
• Contempt of Court: Hiding assets can be considered contempt of court, leading to additional legal consequences and potential jail time.

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What Our Lawyers Look For

Divorce attorneys know exactly what to look for when investigating hidden assets. Here are some of the common indicators that a spouse may be hiding assets:

Undervalued Purchases

One of the most common tactics used to hide assets is undervaluing purchases or assets. For example, a spouse might sell property to a friend or family member for far less than its actual value, hoping that it will go unnoticed.

Nottage and Ward, LLP will scrutinize transactions and compare sale prices to market values to uncover undervalued purchases.

Falsified Tax Reporting

Hiding income through falsified tax returns is another method used to conceal assets. This could involve underreporting income, inflating deductions, or not declaring certain sources of revenue.

• What Lawyers Do: Lawyers will review tax returns and financial statements to detect inconsistencies and uncover hidden income or assets.

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Intentionally Under-reporting Income

Some spouses may attempt to hide income by under-reporting earnings or failing to disclose all sources of income. This tactic is often used to reduce the amount of spousal support or alimony they owe.

Our attorneys will look for discrepancies between reported income and lifestyle. This may involve comparing tax returns, bank records, and spending habits to detect under-reported income.

Transfers of Assets to a Third Party

To avoid disclosing certain assets, a spouse might transfer them to a third party, such as a friend or family member. This can be especially difficult to track without the help of an experienced attorney. We can subpoena third-party records and work with forensic accountants to trace these hidden transactions.

Hidden Cash

Cash can be easily concealed during a divorce, either in a safe or an undisclosed account. Hidden cash is often difficult to uncover unless there is a thorough investigation.

Nottage and Ward, LLP will look for signs of unexplained cash withdrawals, sudden increases in debt, or unexplained expenses that might indicate hidden cash.

Creating Fake Expenses

Some spouses create fake business or personal expenses to divert money that should be disclosed. These fabricated expenses may be used to reduce the reported income or claim that certain assets are not worth as much as they actually are.

Our legal team will examine business financials and personal spending habits to identify any fraudulent or exaggerated expenses.

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Reasons to See a Lawyer Right Away

If you suspect that your spouse is hiding assets, it’s critical to see a lawyer immediately. Here are some reasons why:

• Preserve Evidence: The sooner you act, the more likely it is that crucial evidence will be preserved before your spouse has the chance to hide or transfer assets.
• Thoughtful Guidance: Divorce attorneys have the legal knowledge and resources to guide you through the asset discovery process and ensure that all assets are disclosed.
• Prevent Financial Loss: By acting quickly, you can prevent further financial harm and ensure that your divorce settlement is fair.
• Legal Protections: An attorney can help protect your financial rights and ensure that your spouse is held accountable for any attempts to hide assets.

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What Clients Are Saying About Us

I cannot recommend this firm enough-Alissa R. (5-Star Yelp Review)

Jeff Knipmeyer handled my case with total professionalism and negotiated a great settlement, all within a quick time frame. I cannot recommend this firm enough for your family legal needs. It’s tough enough to have to go through a divorce, but If you are looking for an attorney [who] knows the law and is working in your best interests, you found it.

She has continuously looked out for my best interests-Anonymous (5-Star Avvo Review)

Leslie has been the strongest representation I could ask for in a very complicated emotional matter. She has continuously looked out for my best interests & the best interest of my son. Always prompt in getting back to me & keeping me well informed.

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Speak With a Trusted Divorce Hidden Assets Attorney in Chicago

If you suspect that your spouse is hiding assets, Nottage and Ward, LLP is here to help. Our attorneys will provide the guidance and support you need throughout the divorce process.

Call (312) 332-2915 to schedule a consultation and take the first step toward securing a fair divorce settlement.

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Frequently Asked Questions

What are hidden assets in a divorce?

Hidden assets in a divorce are financial resources or property that one spouse deliberately tries to conceal or undervalue to avoid sharing them in the division of assets. These may include bank accounts, real estate, business interests, cash, or valuables.

How can I tell if my spouse is hiding assets?

Signs that your spouse may be hiding assets include unexplained withdrawals from bank accounts, sudden changes in spending behavior, missing documents, or discrepancies in tax returns and financial statements. If you suspect hidden assets, it’s crucial to consult an attorney for a thorough investigation.

Why would someone hide assets in a divorce?

Spouses may attempt to hide assets to reduce their share of the division of marital property, avoiding a fair settlement. They might also seek to minimize spousal support or reduce the amount of alimony they have to pay.

What should I do if I suspect my spouse is hiding assets?

If you believe your spouse is hiding assets, contact an experienced divorce attorney immediately. An attorney can use legal tools like subpoenas, discovery requests, and forensic accounting to uncover hidden assets and ensure a fair divorce settlement.

How can an attorney help uncover hidden assets?

An experienced divorce attorney can guide you through the discovery process, file subpoenas for financial records, hire forensic accountants to analyze financial discrepancies, and take legal action to ensure that all assets are fully disclosed during the divorce proceedings.

What is the discovery process in a divorce?

The discovery process is a legal procedure where both spouses exchange relevant information, including financial documents, tax returns, bank statements, and other assets. This process is essential to uncover hidden assets and ensure both parties disclose all relevant information.

What happens if hidden assets are discovered after the divorce is finalized?

If hidden assets are discovered after the divorce is finalized, it may be possible to reopen the case. Courts can impose penalties on the spouse who concealed the assets, and the division of assets may be revisited to ensure a fair outcome.

What types of assets are commonly hidden during a divorce?

Commonly hidden assets include real estate, undeclared bank accounts, business interests, cash, jewelry, and art. Some individuals also attempt to undervalue assets or hide income through fake expenses, underreporting income, or transferring assets to third parties.

How can forensic accountants help uncover hidden assets?

Forensic accountants specialize in analyzing financial records to uncover hidden or undervalued assets. They track financial transactions, analyze business records, and investigate discrepancies in income, expenses, and asset values to identify hidden resources.

What are the consequences of hiding assets in a divorce?

Hiding assets during a divorce can lead to severe consequences, including financial penalties, a more unfavorable division of assets, and potential contempt of court charges. Courts take concealment of assets seriously, and penalties can be significant.

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Meet Our Chicago Divorce Lawyers

Jeffrey Knipmeyer

Jeffrey Knipmeyer is a dedicated and experienced family law attorney with over 15 years of practice. As a partner at Nottage and Ward, LLP, Jeffrey is known for his exceptional skill in handling complex divorce cases, including those involving hidden assets, high-net-worth individuals, and intricate custody matters. His commitment to achieving the best outcomes for his clients is matched by his thorough understanding of Illinois family law.

Jeffrey has earned a reputation for being a strong advocate for his clients while maintaining a compassionate approach during emotionally charged proceedings. He works diligently to ensure that all assets are properly accounted for in divorce settlements and that his clients receive a fair and equitable share of the marital estate.

Leslie Fineberg

Leslie Fineberg is a seasoned family law attorney and a proud partner at Nottage and Ward, LLP, bringing over 25 years of experience to her practice. Focusing on divorce, child custody, and asset division cases, Leslie is renowned for her sharp legal acumen and compassionate approach to even the most complex and contentious family law matters.

Leslie's extensive experience in high-stakes divorce cases, particularly those involving hidden assets, business valuations, and high-net-worth individuals, makes her a trusted advocate for clients seeking a fair and just resolution. She has a proven track record of uncovering concealed financial resources through meticulous investigation and expert collaboration, ensuring that her clients are not shortchanged in the divorce process.

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Additional Information

• What Is Forensic Accounting?
• Your Secret Stash of Cash Won’t Be So Secret When Going Through a Divorce
• Here’s Why You Need a Forensic Accountant to Deal with Your Divorce Investments