In your divorce, your marital assets will need to be distributed between the two of you equitably – or fairly under the circumstances. This is a complicated process at the best of times, but if your spouse is hiding assets, the matter becomes that much more challenging. If you believe your soon-to-be-ex may be hiding assets, do not wait to consult with an experienced Illinois divorce attorney.
In Illinois, marital property refers to those assets, properties, and items of value that you and your spouse acquire throughout your marriage. It doesn’t matter who pays for the item or who has his or her name on the contract – if it came to you while you were married, it is very likely a marital asset. Exceptions include gifts or inheritances that either or you receive in your name alone.
Your marital assets are intended to be divided equitably in the event of divorce, and this means that they should be distributed between you in a manner that is deemed fair in relation to the circumstances. If, however, your spouse is hiding assets, it can make receiving your equitable share exceptionally difficult, and the matter should be addressed.
Assets can be hidden in any number of ways, and while you may think that your spouse is basically honest and that he or she would not cheat his or her family in this way, you might be surprised. The stress of divorce can drive otherwise reasonable people to act uncharacteristically, and money can become an especially charged issue. If your spouse owns a business, it can provide him or her with a wealth of opportunities to hide or otherwise conceal assets. Consider the following:
The number of ways there are to hide assets is limited only by the imagination of the less-than-honest spouse. Other examples include:
If you suspect that your divorcing spouse is hiding assets, Cameron H. Goodman at Goodman Law Firm is a trusted divorce attorney with an impressive track record of successfully helping clients like you root out hidden assets in the protection of their financial rights. To learn more about how we can help, please don’t wait to contact us today.
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