Illinois requires divorcing couples to divide their marital assets fairly. Despite the requirements of the law, emotions are often running high in a divorce, and spouses sometimes try to gain the upper hand in the asset division process by hiding property so it does not have to be shared with the other spouse. If your spouse is likely to hide assets during divorce, you likely already have noticed some signs that suspicious activity may be at play. If your spouse seems reluctant to give you financial information, suddenly begins buying large “gifts,” or has a small business that seems suspiciously successful in the recent past, be open to the possibility that financial malfeasance may be part of your divorce.
Where Assets Are Often Hidden During Divorce?
The list of places a spouse might hide assets is seemingly never-ending. From laughably simple schemes like hiding cash money in a mattress to elaborate endeavors to transfer assets to overseas bank accounts, The Stogsdill Law Firm, P.C. has seen it all. Some of the most common ways spouses try to hide assets in divorce include, but are not limited to:
-
Secretly buying valuable things, like jewelry or collectibles, with the intent to sell them later
...