Do not hide your assets in divorce

 Posted on January 22, 2013 in Divorce

There is a set of legal requirements for divorce that apply to all Illinois divorces. Among these requirements is the rule that in a divorce, both spouses must openly and honestly disclose income, expenses, debt, and all assets. For an unfortunate amount of individuals, this becomes a serious problem, because they cannot resist the urge to lie or cheat in their divorce proceedings in order to to hold on to a bigger share of their assets. Forbes reported a story about hiding assets in a divorce. Many times,the husband is the one accused of trying to hide their assets during divorce proceedings. Regardless of which spouse is trying to hide assets and cheat the process, the means used are constantly becoming more and more creative, even though the success rate remains poor. Here are some of the ways people think they can fool the system and their spouses: Hiding, understating or undervaluing certain marital property for personal gain. Quite often people also try claiming they have more debt than they do. Lying about incomes, which usually means reporting that they earn less than they actually do, is also something the court constantly comes across. And finally, people lie about their expenses, which, of course, means that they claim to have more expenses than they actually do. The motive behind these actions is to keep more to yourself and to deny your spouse a fair share of the assets in a divorce. In addition to being unethical, lying about debts, assets, expenses and income is illegal. Breaking the law is not the best way of approaching divorce. Hiring an experienced divorce lawyer can do a lot more for you than foul play can. A knowledgeable divorce attorney can help you maintain a fair share of your assets without resorting to crime. Let us help you, and contact a knowledgeable Wheaton, Illinois divorce attorney today for consultation and a fair, legal divorce.