Kane County Attorneys Assisting with Forensic Accounting
Lawyers Equipped to Discover Hidden Assets in St. Charles, Illinois
As a couple approaches a divorce, the law in Illinois expects both parties to be completely forthcoming regarding their income, debts, and overall financial situations. When you suspect that your spouse is not fully cooperating, however, you need assistance from a team who knows how to uncover the truth. At Bochte, Kuzniar & Navigato, P.C., our attorneys recognize how important full financial disclosure is to the entire divorce process, and especially to the allocation of marital property and spousal maintenance considerations.
Forensic Accounting in Illinois Divorce
If and when financial impropriety becomes a concern in your divorce, it is important to enlist the aid of professionals trained to analyze the economic situation of both you and your spouse. By conducting a comprehensive investigation of the income statement, tax returns, investment records, and outstanding obligations, our firm in conjunction with a forensic accountant is often able to identify and uncover hidden assets or revenue streams. With a focused attention to detail and an extensive knowledge of the law, we are ready and willing to work with you to ensure that your spouse does not gain any undue financial advantage throughout your divorce.
Batavia Legal Counsel for Finding Hidden Assets
There are countless ways that your spouse may be attempting to keep cash or other property hidden to avoid having it subject to property division. Common methods include:
- Assets secretly transferred into the name of a friend or family member;
- Deferred promotions or bonuses;
- Funds kept in separate, secret accounts; and
- Unexplained purchases of high-value items.
No matter how or why your spouse may be hiding assets, you deserve a full financial accounting, so that you can achieve an equitable divorce settlement.
Dissipation of Assets
Forensic accounting can also be utilized to gather evidence that your spouse has dissipated marital or non-marital assets. Dissipation is the inappropriate spending or devaluing of personal or marital property during the period between the point at which the marriage began undergoing an irretrievable breakdown and the entry of judgment for divorce or legal separation. However, the period cannot be longer than a maximum of five years prior to the filing of the petition of dissolution of marriage. Expenditures made for the benefit of the marital estate, including the repayment of marital debts, are not considered dissipation. However, those made for personal gain or those made for a non-marital purpose may be considered a dissipation of marital assets.
When personal or marital property is dissipated without being remedied, the assets are no longer able to be considered in proceedings for the allocation of property, spousal maintenance, and even child support. Our firm, with the assistant of a forensic account can assist you in filing a claim of dissipation and in providing the proof necessary for a successful outcome.
For more information about the role of a forensic accountant, contact the office of Bochte, Kuzniar & Navigato, P.C.. Call (630) 377-7770 today to schedule a free, no-obligation consultation with the team dedicated to serving your best interests throughout the entire divorce process. From our office in St. Charles, Illinois, our law firm is proud to represent clients in and around Kane County, DuPage County, Kendall County, and DeKalb County.