My Spouse Is Hiding Assets In Our Divorce…

One frequently asked question from divorcing individuals is what to do if the spouse is suspected to be hiding assets. I recently outlined the steps that should be taken if a spouse is worried about the other spouse manipulating assets and income: If you think your spouse may be attempting to hide income or assets … Read more My Spouse Is Hiding Assets In Our Divorce…

Finding Hidden Income and Assets In Family Law Cases

This article was originally printed in the On Balance, the magazine of the Wisconsin Institute of CPAs, March/April 2013.

Divorce and child support cases often are highlighted by disputes over money. One party may be accused of artificially depressing earnings, hiding assets or manipulating the finances to lower the financial obligation to another party. Understanding the complete picture of the finances is necessary before a fair settlement can be reached.

Chicago divorce attorney Jeffrey Knipmeyer, partner at Nottage & Ward, cautions that spouses of individuals hiding income and assets rarely have the financial sophistication to recognize that manipulation is occurring. He adds that during the marriage, they typically have been hands-off, and their only knowledge of the finances depends on what the spouse has communicated.

Read moreFinding Hidden Income and Assets In Family Law Cases