How do I ex-wife proof my assets in Illinois? Offshore bank account?

Question

My ex is determined to hurt me, period. No animosity on my end. But I want to protect my income and assets for my children?

Answer 1

You may want to talk to a lawyer... it greatly depends on the condition of your breakup. However, depending on your state law, you may be able to invest the money in a "corporation" where she can't touch it, or perhaps in a trust for your children. If she can prove your wealth, offshore bank accounts won't really help you. You'd have to "loose" the money and then stick it in an offshore account, at which point you may be committing fraud. I'd talk to a lawyer if I were you and see what they say.

Answer 2

You could go offshore. this does not completely protect you if there is already a court order or judgment. They call this fraudulent conveyance of funds. if there is no such court order then you MAY be able to move funds offshore. You need to talk to a law firm for sure. For more information on offshore asset protection go here:
http://www.panamalaw.org/asset_protection.html
http://www.panamalaw.org/bullet_proof_asset_protection.html
http://www.panamalaw.org/usa_asset_protection.html
http://www.panamalaw.org/panama_law_civil_judgment_collection.html

Answer 3

You must read this article. It covers your situation exactly:

http://www.searchallinone.com/offshore-banking/asset-protection/panama-offshore-asset-protection/a-sad-story-you-need-to-read.html

also you should read:

http://www.searchallinone.com/offshore-banking/asset-protection/panama-offshore-asset-protection/fraudulant-conveyance.html