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hiding assets, Barrington divorce attorney, Illinois divorce, Illinois divorce process, concealing assetsAvoiding the stress that accumulates prior to and during a divorce is not possible for most individuals. The issues surrounding divorce are sensitive, personal and have significant long-term implications that often overwhelm one's attempts to keep his or her emotions in check. Property division, especially among couples with substantial assets, is one of the more complex and contentious areas in divorce proceedings.

Disputes are particularly more likely if one spouse is the primary income-earner and controller of the assets. In this situation, the other spouse may have concerns about the concealment of assets in an effort to keep a spouse out the divorce settlement. The concealment or intentional omission of assets potentially subject to division in divorce will have serious financial consequences for the deceived spouse, and must be aggressively investigated if such action is suspected.

The former wife of Robert Foisie, a wealthy entrepreneur and benefactor of Worcester Polytechnic Institute, filed a lawsuit against Foisie and the school following discovery of a Swiss trust account containing $4.5 million that was not disclosed during their divorce — a trust that was later gifted to the school. Given how important accurate accountings of assets are to a fair divorce settlement, a understanding of the financial information all divorcing parties must disclose, and how to handle suspicions a spouse is hiding assets, is essential.

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