what's the best way of Hiding assets when getting divorced

[Fingerling]

Hey guys,

luckily I'm not getting a divorce and luckily I'm not married lol.
But I see all the time in news papers, tv, forums etc a hard working man gets divorced an all his savings get halfed an has to give it to his cheating wife etc.

I have always saved up since my first job and I always continue to save what I can. I don't plan on getting married soon but rather than getting married then divorced then trying to hide my money while her lawyers are keeping a close eye on my £, I want to know what's the best way to keep
it out of sight before marrage etc. And maybe even tips for peole who are in a stage of divorce who need a hand squirreling their £

I know that when you get married you should trust her 100% and therefore shouldn't need to do this, but looking at women in general I don't think I'll ever trust them fully so best look after my £ now then get screwed later on.

I hope you don't think I'm being too cynical.

Thanks

 

[Andy_Dufresne]

Prior to divorce:

Cash, shoe box, family member you trust

After divorce:

Take a lot of under the table and per diem, and cash on receipt gigs that do not show up on your reportable income.

Personally I keep enough cash liquid to dissapear for a year.

 

[Scaramouche]

Dear Fingerling,
Big Money or little money?...give us a ball park figure.

 

[Fingerling]

I'm only 27 at the mo so not big £ say £25,000 but I save £700 a month every month so it'll go up a fair bit. And obviously I don't want any woman getting there hands near that if things ever go sour.

 

[Mr.Positive]

I'm only 27 at the mo so not big £ say £25,000 but I save £700 a month every month so it'll go up a fair bit. And obviously I don't want any woman getting there hands near that if things ever go sour.

With the click of a mouse, the governing hand can find out all you have that is in the 'system'. Bank accounts, investment accounts, etc.

What you are asking, is how to pull money out of the system.

Your only two choices are cash and physical gold/silver coins, imo. These don't have a paper trail linking them to you. Ie, nobody knows you've got them, unless you open your mouth about it.

If you are not getting married, then you have nothing to really worry about, with the exception of someone suing you, etc.

I wouldn't recommend pulling all your money out, but maybe some. Like another poster said, one years expenses, and some gold and silver coins.

The gold and silver act like a hedge against the cash. If the cash goes down in value, the gold and silver go up. They have an inverse relationship with each other. So, the true value, should be somewhat stable over time.

 

[seth03]

marry someone who makes as much, or more than you. or someone who comes from lots of family money.

 

[Fingerling]

I think it's just the fact that I, as everyother dude, work hard for my money and most women don't work as hard and don't have the stress to go with it.
I just feel that I've worked hard for the £ and if I ever get married I'm not prepared to share half my house & savings when it's most probably going to be me that pays the mortgage etc.

I would feel hard done by if my wife ever left me for another man an went off with half to go spend with a man who may not have worked as hard.

I can see where you're coming from with the gold etc but is their no way to get a 'secret' bank account that doesn't show on the system? I can then start putting money in here an there that no one will ever know about.

Just out of interest say I had £50k in the bank an I was getting divorced then suddenly I withdrew £40K to buy gold or something what would the court say?obviously they would know what I was doing.

I know it seems strange this coming from a guy who's not even married. But 1. I want to protect my future as much as I can. &
2. One of my uncles has just got divorced, no kids an he's had to pay £100k to her to keep the house an half of what savings he had. So because he hasn't wasted £ on clothing an make up like her,He has saved for the future, he gets sH1t on.

Just not fair. Sorry about the rant.

 

[Fingerling]

marry someone who makes as much, or more than you. or someone who comes from lots of family money.

I wish I could find one lol. If a man has £ he isn't too bothered if he finds a nice decent girl who's family live in a bad area with no £. But when a girls family has money they seem to come off a snotty an look down at people more.

 

[Mr.Positive]

I can see where you're coming from with the gold etc but is their no way to get a 'secret' bank account that doesn't show on the system? I can then start putting money in here an there that no one will ever know about.

Just out of interest say I had £50k in the bank an I was getting divorced then suddenly I withdrew £40K to buy gold or something what would the court say?obviously they would know what I was doing.

I know it seems strange this coming from a guy who's not even married. But 1. I want to protect my future as much as I can. .

It's not strange at all Fingerling, in fact, lately I've had the same concerns. I work very hard for my money too.

Identity theft scares the **** out of me as well. Everytime I check my bank account online I wonder if I'm just going to see a bunch of zeros.

I don't believe there's any 'secret' bank account anymore. I looked into swiss banking, and they are IRS reporting now too. Swiss banks used to be completely private. Since your not in the US, it may be different.

Also, a 40K withdrawal would send flags flying, in the case of a divorce. If you want to hide your savings, you've got to do it slowly, over time.

 

[Mr.Positive]

Also, what I do is pretty simple. Every month or so, being cash flow postive, I take a percentage of the extra I earn out of the banks in cash. When that cash grows to a certain level, I go to the coin shop and turn some of it into gold and silver. This way I'm diversified into both.

I call this my insurance fund.

In the case of identity theft, or a lawsuit, unforseen medical emergency, etc. People have been indebted thousands upon thousands, their wealth wiped out overnight...by unforseen situtations.

Anything in the system is 'up for grabs'.

So, I have a Shawshank Redemption fund (great movie).

If things ever get bad enough to where I'm a slave for the system...

I'll just say "OK, then.." Take my cash, coins, and disappear to some beach in a foreign country to take back my freedom.

And, yes, I am strange. But, that's the way I like to live my life.

 

[sodbuster]

I don't know English law,so a lawyer may be your first step. Trusts etc. work here-how the Kennedys keep their money and are able to treat their wives like sh1t.

 

[Fingerling]

Lol shawshank great film. I like your idea and your plan is spot on. Doesn't sound strange to me sounds like your just looking out for yourself nowt wrong with that.

Thanks for all your ideas and advice gives me somethin look into.

 

[MatureDJ]

The only true way to "hide assets" is to have everything in a separate IRA or 401K from a past employer - that way, she would have absolutely no basis to get a division. Note that if you have 401K contributions to an employer prior to marriage and then after marriage as well, the 401K would be subject to a QDRO distribution. Of course, this is only of use to someone starting out - if they haven't salted away any cash by the time they are married, there is no way to go back in time.

 

[Bible_Belt]

If you ever bury cash in the ground, don't use a coffee can. They rust. Use a small section of plastic PVC pipe. Buy two end caps and the correct plumber's primer and glue to correctly glue the ends on the pipe full of cash. Bury that in the ground, and it should last about 200 years or more.

 

[spider_007]

i knew a guy who knew a guy....anyways.

dude was getting divorced, so he took out avery credit card he could get and avery loan he could get. Started going to therapy with his wife to buy him self some time. he started hitting the casinos.....go to the teller and grab a few grand at a time...stick around so that he was on camera playing for couple of hours...blew couple of $100....took the rest and hidd it. Once the divorce kicked in he went to rehab to get treated for gambeling (to prove to courts), they split the debth, he filled for bancropcy and went off to a 3rd world country (packing hundreds of thousands)

at least that's how the story goes.