Hidden Assets in Divorce: What to Do When You Don't Know Where the Money Is
By Leonidas Bezanis | Chicago Divorce Attorney | Beermann LLP
Here's a scenario I've seen play out time and time again.
A spouse comes in convinced they're walking away with nothing. The other side claims there's no money. The business is "struggling." They have paperwork to prove it. And on the surface, the financials look clean.
Almost too clean.
This is one of the most frustrating — and common — situations I encounter in high-net-worth divorce cases. One spouse controlled the finances throughout the marriage. The other raised the children, supported the household, and trusted that what they were told was true. When divorce is filed, that trust becomes a liability.
But here's what I want you to understand: not knowing where the money is right now does not mean you're not entitled to it.
Why Hidden Assets Happen in Divorce
Hiding assets in divorce is more common than most people realize — especially in cases involving business owners, executives, or anyone who controlled the household finances. It doesn't always look like a dramatic offshore account or a secret safe. More often, it's subtle.
Common methods include:
Shell LLCs or secondary business entities set up quietly before filing
Deferred income — bonuses or commissions delayed until after the divorce is finalized
Inflated business expenses used to reduce apparent income
Transfers to family members or friends with the intent to reclaim later
Underreported cash revenue from a business
The goal is always the same: make the marital estate look smaller than it actually is.
What the Discovery Process Can Reveal
Divorce litigation includes a formal discovery process — and when used properly, it is a powerful tool.
Financial records, business documents, tax returns, bank statements, and corporate filings can all be subpoenaed. Forensic accountants can trace money movement across accounts and entities. Lifestyle analysis — comparing reported income against actual spending — is another method that often tells a very different story than what's on paper.
When a second LLC is discovered, when transfers are traced, when deferred compensation is uncovered — the entire case changes. Not a small adjustment. A completely different outcome.
What You Should Do If You Suspect Hidden Assets
If you're heading into a divorce and your spouse controlled the finances, take these steps seriously:
Gather what you have access to now. Tax returns, bank statements, mortgage documents, investment accounts — anything you can legally access, document it.
Do not assume the financials you've been shown are complete. Incomplete disclosure is far more common than people expect.
Work with an attorney who understands complex financial cases. This is not the time for a generalist. Hidden asset cases require experience with financial discovery, forensic accounting, and the litigation tools to compel disclosure.
Act early. The longer you wait, the more time there is for assets to be moved, businesses to be restructured, or documentation to become harder to obtain.
The Bottom Line
If your spouse controlled the finances and you have no idea where the money is — that's not a coincidence. That's a strategy.
And it needs to be answered with one.
Divorce is not just a legal process. It is a financial negotiation with long-term consequences. The decisions made — and the information uncovered — during this process will shape your financial future for years to come.
If you are navigating a divorce involving complex finances, business interests, or a spouse who controlled the money, I encourage you to speak with an attorney before assuming you know what you're entitled to.
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Leonidas Bezanis is a Partner at Beermann LLP in Chicago, focusing on complex divorce, custody, and high-net-worth financial matters. He serves clients in Cook, Lake, DuPage, Will, Kane, and McHenry counties.
This post is for informational purposes only and does not constitute legal advice. Every case is different. Contact our office to discuss your specific situation.
