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

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  #1  
Old 10-28-2019, 01:51 AM
Gregory Gregory is offline
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Default Should I disclose before split?

Hi everyone.

My first post here, so I will just ask one question that worries me for now.

We are pre-split, still residing with our son 2.5 yrs age . I don't know when the separation will happen or if it will be contested to a previous date. But living conditions are hell.

My wife was on a hate rampage for awhile, late last year. I didn't know what to do and I was very stressed out. So I stupidly took 12k from my LOC and socked it away. But it gets stupider...

I stupidly let it slip what I had done and where I put it, to the husband of mutual friends. And it gets more stupid...

Being under constant verbal and emotional bombardment, I don't know to this day whether I moved it or my wife was told its location by our mutual friends and took it. Either way the cash is gone. I can live with that.

My question is should I disclose now pre-split that I lost the 12k that I had put away. Or better to put it on financials as one of my assets ?

It could happen that the mutual friend might disclose that at some point in the process. ( I no longer communicate with them ). Wife does though.

I realize it was a bonehead move and want to limit the damage to my credibility. I believe I will already lose more then half of what took a lifetime to save for 7 years of marriage.
Stupid is as stupid does...
ps. I am in the process of finding a lawyer.
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Old 10-28-2019, 11:56 AM
Berner_Faith Berner_Faith is offline
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How to you just lose $12k? Where did you put it that itís just gone?

Separation date will be based on different factors depending on how you guys have been living your life


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Old 10-28-2019, 11:59 AM
rockscan rockscan is offline
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Default Should I disclose before split?

Quote:
Originally Posted by Berner_Faith View Post
How to you just lose $12k? Where did you put it that itís just gone?

Separation date will be based on different factors depending on how you guys have been living your life


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My thoughts exactly. Unless you put it in a lock box under the mattress it can be traced.

Edit: this was a stupid move. The line of credit is considered a debt for equalization. So while she will share the total debt, it goes against your assets on separation.

For future readers of this...donít do this. If you are worried about having money when you split, take money out of your weekly pay or savings accounts and have someone else open an account in their name. Also, donít be dumb about banking. Either keep your banking separate through marriage with a household account or log into your family accounts regularly and see what is happening.

Last edited by rockscan; 10-28-2019 at 12:16 PM.
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Old 10-28-2019, 04:00 PM
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Janus Janus is offline
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Quote:
Originally Posted by Gregory View Post
So I stupidly took 12k from my LOC and socked it away.

Normally I would say that you just learned a 12k lesson, better luck next time...


Quote:
I don't know to this day whether I moved it or my wife was told its location by our mutual friends and took it.
The only hope is that she took it and was dumb enough to put it in her bank account. I might consider waiting until the divorce proceedings have started, and then ask for bank accounts as part of disclosure to see if there was a big deposit.


You might get lucky


Quote:
ps. I am in the process of finding a lawyer.
Probably a good plan, it seems like you don't function well under pressure.
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Old 10-29-2019, 11:32 AM
Gregory Gregory is offline
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Quote:
Originally Posted by Janus View Post
Probably a good plan, it seems like you don't function well under pressure.
Pretty hard to argue that one! You're right.
My worry to the court is I attempted to hide an asset, and the repercussions on credibility.
TYVM for the input folks. Give me a few years and I will be a sticky on what not to do !

If I was married overseas in Oct. 2012 and my spouse arrived in Canada in Sept 2013 , what is considered the equalization date?
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