War Chest and divorce

[ChimpMaster]

Could you not make your mum (and anyone else you can trust) a director and distribute dividends that way?

Though I'm not sure if (your soon to be ex-)wife is entitled to the income based on what you bring into the Ltd Co or what the Ltd Co pays out to you only.

[MarillionFan]

I wonder if the OPs wife left him because he's a penny pinching bastard?

Just asking like.

[alreadypacked]

I am currently taking some out per week as cash or buying vouchers at wickes etc so i have funds ready for refurbishing the property but obviously this is risky should i get a break in/fire etc. Also paying the girlfriend rent per week. Running out of ideas now i have bought everything i need/want. Its a tough life this contracting business.

<Dr. Phil>
If you are living with the gf who is living in your house? I am guessing your wife 'no comment' is something to do with you and the gf.

I would suggest you sort out your first problem before you get yourself into another one. Stop with all the drama, if there is no one in your house go back and stop planning the future and sort out the present.

Been there done that, and the odds of the current gf working out are low. If you think the first one is bad the current one will take you to the cleaners.

Step back, find someone to talk too, stop playing 007, and deceide what kind of a life you really want.

</Dr. Phil>

[Platypus]

withdrawing so much per week raises more questions

who's going to be asking these questions?

I don't get what you're afraid of.

Draw out a few grand a month from your personal account and make it disappear. What's so hard about that?

EDIT: if you trust your GF, put her on the payroll.

EDIT2: and your parents, why not?

[TestMangler]

I wonder if the OPs wife left him because he's a penny pinching bastard?

Just asking like.

Ahhhh....A new 'Dr Phil' emerges

You must spread some Reputation around before giving it to MarillionFan again.

[Scoi]

who's going to be asking these questions?

I don't get what you're afraid of.

Draw out a few grand a month from your personal account and make it disappear. What's so hard about that?

EDIT: if you trust your GF, put her on the payroll.

EDIT2: and your parents, why not?

The courts can go through bank accounts and spending habits and any unreasonable expenditure is taken into account. Apparently i can argue that a certain amount of working capital is reasonable, savings to buy her out of the property and legal fees are taken into account but anything over that is split equally. So i need to minimize or eliminate any surplus without looking like i'm wasting it or giving it to someone only to get it back once the divorce is complete.

[Ketchup]

Get a box in a vault within a bank, put the cash/wickes vouchers in there.

Couldnt you work through a mates limited? Get him to pay you a low salary (enough for you to live off) and when the divorce is done charge him an extortionate rate for some "consultancy"? Obviously have to trust the mate

[shaunbhoy]

How's the CUK forum on giving advice on divorce,

I am sure what it lacks in quality it will compensate for with quantity.

[Platypus]

The courts can go through bank accounts and spending habits and any unreasonable expenditure is taken into account. Apparently i can argue that a certain amount of working capital is reasonable, savings to buy her out of the property and legal fees are taken into account but anything over that is split equally. So i need to minimize or eliminate any surplus without looking like i'm wasting it or giving it to someone only to get it back once the divorce is complete.

Define unreasonable.

Sorry but it seems you don't have the imagination to be creative about this. If you daren't risk sailing a little closer to the wind then you'll lose the money anyway.

You have two choices,
(1) wait for the courts to award her half
(2) disappear some of the money and risk the courts awarding her half anyway

What have you got to lose?

[Paddy]

How's the CUK forum on giving advice on divorce, surely some people on here have been screwed over at least once?

I set up my LtdCo. after separation but still married. The ex has now gone into hiding and not answering any letters from solicitors or the court so can't get the decree's through the system. During this time i've been keeping my war chest in the company account and could have a few more years of deposits making a tidy sum before the financial separation is completed.

During the financial separation would she have the chance to argue that half of my war chest should go to her as half of the assets? My lawyer thinks this would be seen as a short marriage as she left me within a year but now its passed the 2 year stage and still no divorce.

My plan was to pay off the mortgage with it but can't as her names still on the deeds. I suppose it would be obvious if i gave my mother a big present in the form of cash. Any other legal ideas to protect my savings? My lawyer has refused to give me advice on the subject as it could be seen as unprofessional.

Or do i take a year off and go and spend it all?

1. You don't need to know where she is. Legal documents can be served at the last known address.

2. You don't need a solicitor. A solicitor will create problems. They just want to make money.

3. A limited company is a separate entity. Sell the ltd company with its assets to your best friend or you mum or the cat. Then work for your cat or mum or friend.