Do I Need a Forensic Accountant for My Illinois Divorce?

 Posted on March 28, 2024 in Property Division

Often, the division of assets can be a fairly straightforward part of the divorce process. The spouses outline all their marital assets and properties, as well as debts, and either they can come up with a reasonable plan for splitting these or the court will do so, taking into consideration both parties’ finances, earning capability, and other factors. Unfortunately, some people find they cannot trust their future ex-spouse. While it is not legal to withhold information, some people try to hide assets in an effort to keep them from needing to share them with their ex. In some cases, a spouse might use marital funds for things having nothing to do with the marriage, for example by gambling or spending on someone they are being unfaithful with. If you do not trust your spouse to be open and honest about finances and other assets during divorce proceedings, a forensic accountant might be exactly what you need. Speak with a DuPage County, IL divorce lawyer to find out more.

Dissipation of Marital Assets

You may be surprised to learn that in the state of Illinois, people are not given the freedom to use marital property however they see fit. There are certain restrictions. For example, one spouse cannot use some of his marital assets to buy jewelry for a woman he is having an affair with or gamble it all away. If that happens, his wife may be entitled to compensation in a divorce.

Claims about dissipation can be complicated to prove. That is where a forensic accountant comes in. They have the know-how necessary to be able to ask the right questions and look in the right places for the answers they seek, which can help you if you want to recover the funds your spouse squandered.

Hidden Assets

A forensic accountant will review your case and search for any property, accounts, or other assets listed in your spouse’s name. They will also investigate whether marital funds were used to acquire them. Forensic accountants have experience finding assets where a spouse thought they would be well hidden and uncovering funds missing from accounts where they should be.

Schedule a Free Consultation with a Wheaton, IL Divorce Attorney

If you are beginning to mentally prepare yourself for divorce but suspect that your spouse is preparing in another way, by hiding or squandering your marital assets, a DuPage County, IL asset division lawyer can go over your case and advise you on whether forensic accounting might be called for. Call Davi Law Group at 630-657-5052 to schedule a free consultation.