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  • Transfer of moneys.

    Hi. I would appreciate some help on this.

    1. In 2008 I 1-time transferred money to my brother ~100k
    2. In June 2010 I received my divorce and must pay child support.
    3. Jan 2011 I would like my brother to 1-time transfer the ~ 100k back to me.

    Will i have to pay extra child support on this?

  • #2
    Not if it's just repayment of a loan.

    Comment


    • #3
      The bank just shows transfers. How can i make this bulletproof so i will not run into issues?

      Comment


      • #4
        Child support is based on line 150 of your income tax return, not the contents of your bank account. The only time you have to provide bank account documentation is during equalization, is there speculation that you moved the money out of your account to avoid having it included in the equalization?

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        • #5
          I had the money before I was married, have the bank statements to prove it. Took the money out 9-12 months before equalization. Assuming equalization means a snapshot of assets etc for family court purposes.

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          • #6
            I thought you said you were through the divorce process already? Equalization is the division of property and assets.

            You would be required to provide your tax assessments for CS, there would be no reason for anyone to see your bank accounts unless there was something else in dispute.

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            • #7
              Was it a loan?

              Did you disclose it as an asset at separation date?

              Please don't tell me that you gave the money to your brother soley to get out of splitting it with your ex.

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              • #8
                It showed as an asset in my bank summary the day before i got married.

                I did not disclose it as an asset at separation date.

                My ex did not ask for any alimony, just CS.

                So how do i transfer this back without any issues? Is there a way?

                Comment


                • #9
                  For equalization you are required to show all assets at date of marriage, and date of separation, regardless of spousal support. From your description it sounds like you claimed that you brought it into the marriage with you but did not claim it as an asset when you seperated. Pretty sure that isn't on the up and up.

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                  • #10
                    Umm 50% of that belongs to your ex. Just so you are aware. If he finds out you "hid" assets, he can legally lay claim to them.

                    When you receive the 100K back...you should be sending 50K to the ex.

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                    • #11
                      If your ex was unaware of the money, you committed fraud. If your ex was aware and the two of you agreed to no equalization, or an equalization that excluded this money, then you should have had this properly noted in your separation agreement.

                      Your separation agreement can be overturned and you can be sued if your ex ever finds out about you hiding this money. If the two of you had some verbal arrangement to exclude the money, then you are at risk of your ex changing their mind and suing you.

                      By showing this money before marriage, and hiding at separation, you are showing a $100k loss during the marriage that is false. This money would be subtracted from any gains in assets during the marriage. For example you could have ended up with a disproportionate share in the matrimonial home.

                      Without knowing the full details of your equalization it's impossible to comment on whether you actually committed fraud or not. Perhaps you had no assets and there would have been no equalization with or without this money being declared.

                      When you signed your financial disclosure you swore that the information was true and complete and the disclosure should have noted that you acknowledge that false information could result in criminal charges.

                      If you are here asking how to hide the money, you are asking us to assist you in fraud, which we could be charged with. Unlikely, but we would still be breaking the law.

                      Comment


                      • #12
                        Marital property without a prenuptual agreement...

                        Hopefully you were taught how to "share" when you were little.

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                        • #13
                          Originally posted by mariabella View Post
                          The bank just shows transfers. How can i make this bulletproof so i will not run into issues?
                          You mean how can you cover your ass after ripping off your ex?

                          And you want that advice for free here?

                          First of all, I can't believe that his lawyer didn't catch such an obvious concealment of assets.

                          Secondly, you want us to bulletproof your ass?

                          Unbelievable, unless you want to send me $5,000 for more info.

                          Comment

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