At Keller Legal Services, we understand that divorce often comes with fear about finances and what life will look like afterward. Many people worry about losing property or money they believe is rightfully theirs. This fear sometimes leads to the idea of hiding assets or moving property around before filing for divorce. While this might seem like a way to protect yourself, Illinois law makes clear that hiding assets is not only a mistake, it can lead to serious legal consequences that make your situation much worse.
Illinois is an equitable distribution state, which means marital property is divided fairly, though not always equally, under 750 ILCS 5/503 of the Illinois Marriage and Dissolution of Marriage Act. Marital property includes most assets acquired by either spouse during the marriage, with limited exceptions for inheritances or gifts given to one spouse alone.
The court considers several factors when dividing marital property, including:
Trying to hide or transfer assets before divorce disrupts this process, violates Illinois law, and can lead to significant penalties.
Under 750 ILCS 5/501, both spouses have a duty to provide full and honest disclosure of their income, property, debts, and expenses during divorce proceedings. Hiding assets—whether by transferring them to another person, underreporting income, or creating secret accounts—is considered fraudulent behavior. If discovered, the court can:
Illinois courts take financial disclosure very seriously. Judges expect honesty to ensure a fair outcome, and attempts to manipulate the process can damage your credibility and your case.
There are legitimate ways to protect your financial interests before and during divorce:
These legal strategies protect you without risking penalties or accusations of fraud.
Both spouses must complete a financial affidavit during divorce proceedings. This sworn document, required by Illinois Supreme Court Rule 13.3.1, outlines income, expenses, assets, and liabilities. Signing this affidavit without full disclosure is perjury, which can carry additional consequences beyond the divorce case itself.
Full and honest disclosure allows the court to divide property fairly, calculate appropriate spousal support under 750 ILCS 5/504, and determine child support if applicable. Transparency ensures your rights are protected and that you are not exposed to future legal challenges.
Hiding assets can include transferring property to friends or relatives, failing to report income, creating fake debts, underreporting the value of property, or opening secret accounts to conceal funds from your spouse and the court.
Courts rely on financial disclosure forms, discovery tools like subpoenas and depositions, and forensic accountants who investigate bank records and tax returns. If your spouse or their attorney suspects hidden assets, the court can order an in-depth investigation.
Illinois judges have broad authority to penalize misconduct. You could lose the hidden property entirely, face monetary sanctions, or be ordered to pay your spouse’s attorney fees. Serious cases can lead to criminal charges for fraud or perjury.
Transferring or spending marital funds to avoid division can be considered dissipation of assets under 750 ILCS 5/503(d)(2). The court may compensate your spouse by awarding them a greater share of the remaining property or ordering reimbursement.
Start by gathering detailed records of all your property and accounts. Consult with an attorney to determine what is marital versus non-marital. If appropriate, request temporary orders preventing either spouse from selling or hiding assets during the divorce process.
Yes. Hiding income or assets can lead to inaccurate calculations of spousal or child support under 750 ILCS 5/504 and 750 ILCS 5/505. If fraud is discovered, the court can adjust support amounts and impose penalties.
If you suspect your spouse is concealing property, your attorney can request discovery, subpoena financial records, or ask the court to appoint a forensic accountant. Illinois law provides remedies to uncover and correct fraudulent behavior in property division.
Yes. Under Illinois law, a divorce judgment may be reopened if evidence of fraud or hidden assets surfaces after the divorce is finalized. The court can redistribute property and impose penalties on the spouse who acted dishonestly.
At Keller Legal Services, we know how high the stakes are in a divorce, especially when finances are involved. Trying to hide assets is never worth the risk and can backfire badly. We work to protect our clients legally, ensuring full disclosure while fighting for a fair division of property under Illinois law.
If you are considering divorce or suspect your spouse is concealing assets, contact our Naperville divorce lawyer at Keller Legal Services by calling 630-505-1515 to receive your free consultation. Our Naperville divorce attorneys represent clients in Naperville and throughout Chicago, Illinois, providing skilled legal guidance for even the most complex divorce cases in Illinois.
