During a divorce proceeding in Illinois, both parties will typically be required to share financial information and other data so that the process can be completed in accordance with the law. The phase of the proceeding in which this information is exchanged is known as discovery. Additionally, discovery is also the time when all assets and debts must be declared so they can be factored into the marital settlement. Assets include:
- Property and business interests;
- Bank accounts;
- Real estate holdings; and
- Pension and/or retirement funds and accounts.
Limited Discovery in an Uncontested Divorce Case
In an uncontested divorce proceeding, a limited discovery will generally occur wherein the parties willingly provide bank account, assets, and property information to achieve a quick settlement. This is because an uncontested divorce presumes that the parties are working together to streamline the process and have nothing to hide from one another.