Helpful Tips for Getting Your “Fair” Share in an Illinois Divorce

While some states have couples split their assets evenly, Illinois divides the marital estate “fairly.” Of course, this obscure term can mean a lot of different things to a lot of different people. Indeed, what seems “fair” in the eyes of the court – or in the eyes of your spouse – may not seem very fair to you. How do you put things into perspective, and how can you ensure that you do, in fact, get your fair share in divorce? The following tips can help.

Know What You Own

One of the biggest reasons that couples get shortchanged in divorce is that they walked into the process not knowing what they and their spouse owned. You see, before the marital estate can be divided, it must be valued. This value will not be accurate if there are missing asset. Start by looking for evidence of savings accounts, stocks or bonds, non-monetary assets (collector’s items, expensive jewelry, art, etc.), bank accounts, investment accounts, and retirement accounts that may not have been disclosed to you during the marriage. Then gather documentation and submit it to your attorney.

Know How to Spot Asset Hiding

While, in many cases, undisclosed assets in divorce are a mere oversight by the “owner” of the item, there are those that intentionally try to keep assets hidden during divorce. Some may even give things away, just to keep them out of the hands of their soon-to-be ex-spouse. Once the divorce is over, they miraculously “find” things they misplaced, and “gifted” items are returned. Sadly, by then, it is all too late. Your settlement has already been entered into the divorce decree and you are simply out the money. Do not let this happen to you! Know how to spot asset hiding. Behaviors to look for could include:

• Evasive behavior while online or when approached about money;
• Temper tantrums or defensiveness when asked about finances;
• Disappearing documents, computer software, or valuables;
• Locked cabinets, particularly those that contain financial information;
• Sudden “financial troubles” in a business or “cut hours” at work;
• Frequent trips and/or phone calls to offshore locations; and
• Burner phones, strange purchases, or excessive gift giving.

If you suspect that your spouse may be hiding assets from you during divorce, contact your attorney immediately.

Get Skilled Assistance with Your Divorce

The internet is full of “DIY divorce” options, but none of them offer any kind of protection during your divorce. Choose this option and you can almost bet that someone will walk away with more than their fair share. Furthermore, these options are not always tailored to fit Illinois state law. Do not attempt to represent yourself – not when your financial future is at stake. Instead, contact an experienced attorney and obtain the representation that you deserve.

At Mevorah & Giglio Law Offices, we have the skills and experience needed to effectively protect your rights and best interests. Dedicated to ensuring you get the settlement that you deserve, we will take assertive action in your divorce case. Learn more about how we can help you by scheduling a free consultation with our DuPage County divorce attorneys. Call 630-932-9100 today.

Source:

http://ilga.gov/legislation/ilcs/ilcs4.asp?ActID=2086&ChapterID=59&SeqStart=6000000&SeqEnd=8300000