4 Ways Spouses Hide Money to Avoid Paying Child Support
Concealing income for the purposes of avoiding child support payments is all too common in Illinois family law. Chicago area parents will often plead financial hardship with the hopes of garnering a smaller court ordered monthly payment. In some cases, claimed hardship is fraudulent, with income diverted elsewhere until a case is concluded.
To protect the well being and financial security of your child, it is important to be aware of these possible fraudulent schemes. At Gordon & Perlut, LLC, we have years of experience helping Chicago area parents defend their right to fair and accurate child support payments. Read on to learn about four common ways parents will attempt to conceal income during a child support proceeding:
For many jobs, a regular salary represents a small portion of income. Instead, commissions and bonuses make up the lion’s share of payments. This is especially true for jobs in sales as well as entrepreneurial endeavors. Unfortunately, these jobs can make it much easier to conceal income until after a child support ruling is concluded. Working with your attorney, you will want to look for irregularities in the other parent’s income. If commissions and bonuses have suddenly decreased, it could be a sign that income is being hidden or deferred until later.
In addition to commissions and bonuses, many jobs come with special perks that when taken together, can add up into a significant income stream. These can include:
Though these perks can be significant, they are often ignored when a judge determines fair child support payments. Your attorney can help you ensure that all added job perks are being included in the other parent’s total reported income.
Coming to a fair income figure is especially difficult in cases where a parent owns a share in a business. In these cases, income often comes as a share of the profit from the business. During the child support process, it can be especially easy for a business owner to make purchases and rack up expenses so as to show a reduced income. To help overcome this possibility, your attorney can help you survey average income in preceding months to show any irregularities.
In certain professions, it may be possible for the other parent to take payments “under the table” and not report them to the authorities. This not only misrepresents income for the purposes of child support, but is also a criminal offense. If you suspect that the other parent is hiding income in this matter, it is important to speak to your attorney immediately.
Contact a Chicago Child Support Lawyer
Fair and accurate child support payments are vital to the successful upbringing of your children. With matters as serious as this, it is necessary to secure help from an experienced and trusted child support lawyer.