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How to tell if a spouse is hiding assets

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The higher an Illinois resident's net worth is, the more assets they likely have. The more assets they have, the easier it is for a spouse to attempt to hide money during the divorce process. An individual will do this so they don't have to divide assets fairly with their ex-spouse.

Forbes takes a look at where men in particular are most likely to hide assets. Among these tactics is the act of purchasing expensive items that can be hidden in plain sight. This can include antiques, carpeting or other room decor, additions to already existing art collections, watches, pieces of jewelry, or other things that are pricy but relatively easy to miss. They may also directly stash money in hiding spaces around the house, their place of work, or in their car so it isn't registered by the bank.

The Women's Institute for Financial Education looks at other places to look for hidden assets. This list mirrors the one above, but also includes things like fake payments or debt repayments. For example, a person might create an employee to "make payments to", when in reality the money is just going back to themselves. They may also pretend that they have old debts to pay off, giving friends or family members the money "owed" with the express intention of having it given back to them later.

Anyone who believes their spouse is hiding assets may want to contact an attorney. They can help discover what assets are being hidden and ensure both parties are getting their rightful share.

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