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Where might my ex be hiding assets?

Going through a divorce can make people do and say things they later regret. Hiding assets is one such mistake that could have serious consequences. The person hiding the assets could face penalties like having to pay their ex's legal fees and even jail time in some cases. Alternatively, the person from whom the assets were hidden could walk away from the divorce with less than they deserve.

For these reasons, it can be critical to uncover any assets that may be hidden or unaccounted for before finalizing your divorce. Knowing where to look can be very difficult, but there are some good places to start investigating.

One of the best places to look is your own bank accounts. Look at the money coming in and going out for signs that smaller amounts were deposited or money was withdrawn for unknown reasons. This could be a sign that an ex is stashing money elsewhere or using money to pay for things you don't know about.

You may also want to investigate any questionable business decisions that could serve as a way to shield money from a divorce. Has your ex turned down a promotion until the divorce is finalized? Is he or she delaying payment of commissions or bonuses? These are common ways people try to hide money.

Unfortunately, your friends and family could also be helping your ex hide money. He or she might transfer assets to someone close and then retrieve them after a divorce.

Looking at the way your ex is spending money could also uncover evidence that he or she is trying to keep money from you. Is he or she suddenly buying art, furniture, cars, vacations or other lavish items? This could be a way for your ex to spend money and then try to hide the fruits of that spending from you.

As noted in this AOL Finance article, there are many places a person may try to hide assets during a divorce. In some cases, it might be possible for you to find them yourself but in many cases, it takes an attorney and/or financial analyst to uncover signs of financial impropriety. If you have concerns about hidden assets in your divorce, it can be wise and financially prudent to consult an attorney.

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