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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 04-04-2019, 07:48 AM
Kkc Kkc is offline
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Default Brainstorming where an ex may be hiding cash

Just thought it would be good for some brainstorming

Basically the ex apparently has a wealthy family and may have been a recipient of some type of a trust (although she says it's tied up in court).

Her family has a factory and likely very easy to hide and funnel cash.

Although I trust in discovery we can get some info, I am hoping some of the more experienced folks can give me suggestions as to where money and income streams could be hidden.

Thanks
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Old 04-04-2019, 09:23 AM
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Janus Janus is offline
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Which are you looking to affect?


1) Equalization
2) Spousal Support (Compensatory)
3) Spousal Support (Needs Based)
4) Child support


Some sources of income are useless depending on what you are trying to pull off.
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Old 04-04-2019, 09:40 AM
Kkc Kkc is offline
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Generally would look at all suggestions and to try to see which would be viable based on what I know of her family

I do not think she was milking funds from the jt accnt because I would have noticed.

Just thinking of not so obvious areas and I'll let lawyer sort out.
I am suspicious she may have shares in one of her dad's companies or they are washing money to her someway.

I appreciate your input
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Old 04-04-2019, 09:49 AM
ifonlyihadknown ifonlyihadknown is offline
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Do you think that any of it results in an additional income stream?

Do you think that these assets should be split as part of equalization?

I'm not sure how robust "discovery" is in Family Court. I suspect that it's not too hard to hide assets, but others on this forum will know better.
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Old 04-04-2019, 09:52 AM
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1. Possibly
2. If she has shares.in her dad's business then yes equalization
3. I don't know how hard it is tbh...but a discovery is easier when you know where to look
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Old 04-04-2019, 10:05 AM
HammerDad HammerDad is offline
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Quote:
Originally Posted by Kkc View Post
1. Possibly
2. If she has shares.in her dad's business then yes equalization
3. I don't know how hard it is tbh...but a discovery is easier when you know where to look

1. If the trust is a discretionary trust, where funds may be distributed to beneficiaries in such amounts and at such times that the Trustees of the trust determine, there may not be any amount imputed to her income from it. The trustee of the trust can simply testify that they are not distributing funds to your ex.


2. It may not. If she received the shares through the proper method than they may not be included into equalization. It is common practice when giving shares to children that it is done by deed of gift, and that deed include wording that the shares/assets/cash, and all income derived therefrom (ie. interest), be excluded from net family property. The only way the shares would form part of the net family property is if they were co-mingled with family assets (ie. put into a joint name, or account etc.). To be honest, if the ex's families lawyer DIDN'T do it this way, they are a brutal lawyer and likely leaving themselves open to calling their liability insurer.. source - this is what I do for a living.


3. If she is receiving funds (dividends) from the company, that should be included in her income and reported upon. So long as those funds are not deposited into a joint account, they may not form part of the net family property (see item 2 above). However, they would be included as income for any formula to determine spousal support, offset c/s or s7 expenses.
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Old 04-04-2019, 10:15 AM
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The bigger question is this: is going through all this legal process going to cost more than what you get back?

If this is for equalization, you need to prove she acquired these assets through the marriage to be split. Highly unlikely and may not be eligible for equalization.

If this is for spousal support then the onus is on her to prove need. She would also need to prove she gave up her career for you.

If its for child support, the onus on you is to prove she is hiding income.

Truly though, the amount of money you would spend on a lawyer other than your family lawyer and either an accountant or actuary could sap whatever money you hope to gain.
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Old 04-04-2019, 10:20 AM
Kkc Kkc is offline
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Thx...

My guess is that they would have done the shareholder now or close to the separation. My case is really sad and basically the wife and the mom colluded to show I am violent and did an exparte motion (won't discuss my evidence but I have it)...
The ex is not very smart with this and has so far left a trail of bread crumbs someone with Celiac's could follow.

I will look into shares for sure
The trust is tied up in court allegedly but who really knows..another thing to explore

She ended up doing a second ex parte motion to get proceeds of house sale on advance as she needed a down payment for the house that she bought without seeing what she could afford and then lied on her NFP that swung equalization from 80k to her to 90k to me. No funds were released but somehow she ended up getting the money for the house...that will be interesting...my guess is her dad bought it for her..thus hopefully lowers nc ss


Quote:
Originally Posted by rockscan View Post
The bigger question is this: is going through all this legal process going to cost more than what you get back?

If this is for equalization, you need to prove she acquired these assets through the marriage to be split. Highly unlikely and may not be eligible for equalization.

If this is for spousal support then the onus is on her to prove need. She would also need to prove she gave up her career for you.

If its for child support, the onus on you is to prove she is hiding income.

Truly though, the amount of money you would spend on a lawyer other than your family lawyer and either an accountant or actuary could sap whatever money you hope to gain.
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Old 04-04-2019, 10:38 AM
rockscan rockscan is offline
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Shes also going to have to prove how she can afford it. As the judge at my partners motion said, if we were living in a million dollar home and claiming that he isnt working then the judge would look closely at the income, sources of cash etc and question if money is being hidden.

My cousin went through something similar with his ex. She an her mother worked to bankrupt him and move away with the kids. He fought it by demonstrating that he would be just as good at 50/50. They did go bankrupt as she had charged up all credit options and stole money from their business. He got 50/50 and said all the other shit was unimportant as having his kids was the only thing he wanted.
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Old 04-05-2019, 10:53 AM
iona6656 iona6656 is offline
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one of the law clerks I work with used to do family and apparently you can write a letter to the major banks requesting disclosure of whether an individual has an account with the bank. Obviously they won't tell you what they have- but they will say whether the individual is a customer. So you can see if she's holding stuff at different banks.
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