To hide money from your spouse during a divorce?Been married 4 yrs hubby has gambling and alchol problems(he gets mad breaks furniture) at present but does not feel he has a problem thus the marriage is failing.We are in alot of debt currently lots of stuff is being charged on credit cards.I have a small stash of about 7,000 dollars in it. If i put it under my parents name can hubby not take it in a divorce?Also how are debts split in a divorce?
2007-04-19 11:25:40 · 13 answers · asked by Anonymous in Family & Relationships ➔ Marriage & Divorce
Live in las vegas, nevada
2007-04-19 11:30:08 · update #1
No way. everything is 50/50, money, debts, everything.
2007-04-19 11:28:46 · answer #1 · answered by prouddaddy 6 · 0⤊ 0⤋
Debt is not 50/50 split in a divorce. Assets may be divided 50/50. It will all depend on how much each of you make in regards to the division of debt. He can't take any money that is not in a bank account that does not have you name on it. You are smart to have it in your parents account. If you are on any of the credit cards that he is charging debt on, call the credit card company and ask that the cards be suspended or even canceled. If your plan is to get a divorce, start going through the credit card statements and mark off things that he charged. This will help you when you have your hearing. Just be as thorough as you can before you file.
2007-04-19 11:36:50 · answer #2 · answered by Millionaire in training 4 · 0⤊ 0⤋
No, don't hide it in a bank, you don't want any records of it. The bank can't see it coming or going. If you have to move it move it in small amounts, like $500 everother week. If he shows bank records of you moving a large some, the court will ask you to show where you used that money on family bills. Don't open any new accounts anywhere with your name and money. When I was getting a divorce I went to see a lawyer I knew, he asked " did you hide any money" and winked at me. I said nope He told me "good" cause that's the quickest way to end up back in court. Good Luck
2007-04-19 11:36:31 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You need to be very careful about hiding money. If the spouse felt that you were hiding assets, he could have them frozen. All lawyers warn their clients about hiding assets.
Debts are split 50/50 usually. The judge has ultimate say so on things.
2007-04-19 11:33:10 · answer #4 · answered by ciberpunk1 5 · 1⤊ 0⤋
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2016-11-25 22:58:15 · answer #5 · answered by Anonymous · 0⤊ 0⤋
DEFINATELY put it in your parents name and salvage something from this guy. if he's got a gambling problem, then you have every right to hide that money in order to start a new life.
You'll really regret seeing it gambled away on the roullette wheel otherwise.
Don't feel bad about it either - I bet he didn't when he was drinking your money away.
2007-04-19 11:31:06 · answer #6 · answered by iliketorideigohago 3 · 1⤊ 0⤋
Normally I'd say that is wrong but you know what? He probably spent that much or more with his drinking and gambling so why not? Debts are usually split 50/50.
2007-04-19 11:31:03 · answer #7 · answered by kitkat 7 · 0⤊ 0⤋
Hiding assets can bite you in the butt. If they are found (in "discovery"), judges can be very harsh and assume that there is more that has been hidden.
States with equitable distribution...all assets/debts are split but not necessarily 50-50.
2007-04-19 11:32:09 · answer #8 · answered by Anonymous · 0⤊ 0⤋
It is absolutely 100000000000000000000000% against the law to hide assets (aka money) during a divorce.
2007-04-19 12:00:18 · answer #9 · answered by Anonymous · 0⤊ 0⤋
If you're in a community property state, it's all 50/50, honey. Take it OUT of the bank if it's in there. Cash it out in cash...put it in a safe place....or give it to someone you can trust to hold. He has to be able to prove it exists to take half. How can you prove "cash" exists? His word against yours. I know this trick because my current husband played it on his ex.
2007-04-19 11:32:01 · answer #10 · answered by a_lot_smarter_now 4 · 1⤊ 0⤋
Everything depends on whether you live in a community property state or not. But regardless, it's illegal to conceal assets. Get yourself a good lawyer, and good luck.
2007-04-19 11:30:40 · answer #11 · answered by Dena 4 · 0⤊ 0⤋