If you are currently working through the divorce process, you will likely have to work out a fair division of your shared property with your spouse. This is because, under the Illinois Marriage and Dissolution of Marriage Act, Illinois is an equitable distribution state, rather than a community property state. In an equitable distribution state, the court must determine a fair way to divide property between divorcing spouses, rather than a completely equal one.
Property division can only work when the court has a clear picture of the divorcing couple's complete net worth. When an individual hides some or all of his or her assets to avoid sharing them through a divorce, these assets are known as hidden assets. The process through which a spouse may have his or her former partner's hidden assets brought to light is known as discovery.
Hiding Assets from One's Spouse
Any type of asset can be hidden. Examples of hidden assets include the following: