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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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Old 07-28-2012, 02:37 PM
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Hello, everyone, my first post here. I meant to ask these question a lawyer, but as it is coming closer and closer to being necessary I realize I'm totally not in the mood to start dealing with lawyers again.

Comparing to other's stories, mine is relatively boring, I guess. We are separated and all financial issues are settled at the moment.

My question concerns financial statement.

First, long before the marriage, I had a saving program with employer in another country. For various reasons I did not took that money when I came to Canada, which was over 9 years ago. I was married for 3 years. So the money is not subject to division, as it is a premarital asset. However, I did not include it into the FS that I filled out last year. I did not know how much was there, nor did I know if they money were still waiting for me. I did not save any documents related to that account.

Anyway, this year I went to that country and got the money - around 17K. Now, I would like to somehow make the money legit and not worry about ex- claiming it is my income. There is an option to keep the money as cash, but the thing is I have a couple of expensive debts that I'd like to get rid of, and I can't without these money. Unfortunately, even now I can't produce any paperwork related to that account. All I have is a form I submitted to the corp that held it, basically saying "give me all my money", without even having the amount on it. No signature or stamps from that organization.

I'm thinking of declaring it as a loan from my relatives. I find it safer. By now I'm certain ex- with scrutinize any new money, as she and her lawyer requested papers on all accounts I declared as premarital asset.

What kind of documentation would be necessary to make the loan story convincing?


Any comments?
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Old 07-28-2012, 02:47 PM
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You need to worry not just about your ex, but also Canada Revenue Agency.

I would suggest that the most reliable advice would come if you call the CRA helpline, explain exactly what you said here, remark that there will be a significant deposit to your account from this company, you do not want to break any rules and do not want it counted as income since it was actually savings. Ask the CRA what documentation they would require, and then obtain that documentation.

Once the CRA is satisfied, this will be sufficient to protect you in Family Court as well, should your ex bring the matter up.
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Old 07-28-2012, 03:54 PM
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Thanks for the reply, Mess. I suppose I'll do what you propose.

However, I don't worry about CRA much. I have a business and I've dealt with them on several occasions. They are nice and reasonable people. They are not on a mission to punish me. And they are not personally invested in getting the most out of me
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Old 07-28-2012, 04:42 PM
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I didn't mean to worry overmuch, I meant that they would give you the exact information you need for free.
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Old 07-28-2012, 05:33 PM
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Quote:
Originally Posted by randomjohndoe View Post
Hello, everyone, my first post here. I meant to ask these question a lawyer, but as it is coming closer and closer to being necessary I realize I'm totally not in the mood to start dealing with lawyers again.

Comparing to other's stories, mine is relatively boring, I guess. We are separated and all financial issues are settled at the moment.

My question concerns financial statement.

First, long before the marriage, I had a saving program with employer in another country. For various reasons I did not took that money when I came to Canada, which was over 9 years ago. I was married for 3 years. So the money is not subject to division, as it is a premarital asset. However, I did not include it into the FS that I filled out last year. I did not know how much was there, nor did I know if they money were still waiting for me. I did not save any documents related to that account.

Anyway, this year I went to that country and got the money - around 17K. Now, I would like to somehow make the money legit and not worry about ex- claiming it is my income. There is an option to keep the money as cash, but the thing is I have a couple of expensive debts that I'd like to get rid of, and I can't without these money. Unfortunately, even now I can't produce any paperwork related to that account. All I have is a form I submitted to the corp that held it, basically saying "give me all my money", without even having the amount on it. No signature or stamps from that organization.

I'm thinking of declaring it as a loan from my relatives. I find it safer. By now I'm certain ex- with scrutinize any new money, as she and her lawyer requested papers on all accounts I declared as premarital asset.

What kind of documentation would be necessary to make the loan story convincing?


Any comments?
geesh you come on a board like this and want information on how to lie to the ex??

your best bet is to get the proper paperwork for that money. There has to be some sort of record of it from the corp that held the money.

You lie about the money, get found out and your creditabilty is shot. Why take a risk like that. Be upfront and honest. If you can prove it was premarital then you shouldnt have a problem.
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Old 07-28-2012, 06:50 PM
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Welcome to the forum.

You had no idea that you had money in an account/organization in another country. You want to know how to retrieve your money without your ex scrutinizing it.

If your 17k slush fund has been sitting in hibernation for 6 yrs, not earning interest, why not provide the information they are requesting? The "organization" should be able to provide you with documentation if the "organization" is legit.

You sound like a sly devil! If I was the ex I'd be scrutinizing your business records big time.

My advice to you is to come clean. Your ex may be naive but the people she has working for her may be experienced in this area and put you into some real hot water.
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Old 07-29-2012, 12:21 AM
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I did not know how much was there, yes. I did not know if that was enough to bother. I don't speak that language very well after so many years of not using it. There are no lies here. I guess I'll try an get the statement of account from the organization. My business records are clean. Well, small personal purchases on company money here and there, but no major shenanigans.

With all that said, I have no problem with lying to my ex-. The law here in Canada is severely broken. She's got an awesome deal out of our marriage. Improved lifestyle for her and her child quite dramatically. I've got a ton of new debt and having to pay to her for many years to come. So, yes, I will do what's necessary in order mitigate the situation somehow.
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Old 07-29-2012, 12:54 AM
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Getting your documentation in order is a good thing. You never, ever know what the future holds. Honesty and integrity = good night sleep, less stress, freedom to move on with a clear conscience.
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Old 07-29-2012, 07:10 AM
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Quote:
Originally Posted by arabian View Post
Getting your documentation in order is a good thing. You never, ever know what the future holds. Honesty and integrity = good night sleep, less stress, freedom to move on with a clear conscience.
I dont always agree with what you say but this time you hit the nail on the head. A person who has not problem lying to the ex probably does not have a problem lying to anyone.
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Old 07-29-2012, 10:15 AM
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Thank you standing - I don't always agree with what you say either LOL; that's generally what happens on forums.
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