after a discharge you are required to report it and even pay stuff back. My question is if you could safely but money into cd's with kids name on it so that you wouldn't have to claim it? I don't want to be dishonest but any savings I may accumulate over these next months I want to safe guard from this mess happening again...Anybody know anything about this? Thank you
2007-01-19 05:32:44 · 2 answers · asked by ntwrkadmngrl 1 in Business & Finance ➔ Personal Finance
If you come into the money, then it would be assumed that it is to come in your name. If you transfer it to your children's (or anyone) name, than you are still responsible for it because it was in your name to begin with. Just because you move it, give it away, or transfer it, does not mean that you never got it.
If possible, wait until after the time frame to get the money. This does not mean that you wait to cash the check! It means have whoever is giving you the money wait to give it to you.
2007-01-19 05:44:18 · answer #1 · answered by ricks 5 · 0⤊ 0⤋
If you put the money into an account for your kids, it becomes their money. If you later withdraw it to use yourself, that is considered stealing.
What you are trying to do is find ways to fraudulently hide money to get out of paying your debts.
2007-01-19 06:31:10 · answer #2 · answered by auskan2002 4 · 1⤊ 0⤋