Money out of harms way

[rootsnall]

This is meant to be a contractor's forum? Any contractor worth his salt already has a good proportion of undetectable assets + offshore bank account.

Beware, the taxman is making progress at getting access to offshore bank account details. They got one big bank ( Barclays ? ) to hand over details already but expect to get all the UK banks with offshore arms to cough upat some stage.

[bobhope]

This is meant to be a contractor's forum? Any contractor worth his salt already has a good proportion of undetectable assets + offshore bank account.

[Swamp Thing]

One trick is to boost your liabilities on the Form E (the financial disclosure form that you’re probably aware of by now). Make some big payments to trusted family and friends; these are repayments of loans they made to you a long time ago, remember? Yes, the loans were on a commercial footing, yes there was formal paperwork but you’ve lost it all now. This will help to keep the net assessable assets to a minimum. Once the financial settlement has been awarded, discreetly recover the ‘loans’ and put them into a 3rd party a/c, from which you can draw on in the future.

N.B. You can bet your bottom dollar that your soon-to-be ex is inflating her liabilities. Usual trick is to go large on the plastic and plead poverty on her Form E. My ex ran up £11,000 in 6 months. Now you could do the same, but there’s no post-divorce return for you. The ‘loan’ route would however work (it did for me). It doesn’t matter that her solicitor may choose to interpret that the loans weren’t made on a commercial basis – the money’s gone (at least for now).

[rootsnall]

What can you do with your money and property to keep it out of any divorce settlement?

e.g put the titles in a family members name and a swiss account?

I was just within a week or two of completion on buying a house and the vendor rang me up and said the deal is off unless you reduce the sale price by 15K and then bung me an envelope with 15K cash in it. That was his solution to not paying his ex wife what he owed her. I told him to sod off but its an idea for you !

[ratewhore]

A friends father had a similar problem a few years ago, he solved it by purchasing several high value cars which he had squirrelled away in garages that the wife knew nothing about. Once the divorce dust had settled he recovered the cars and sold them on... then put a deposit down on a f**king huge house

Unless he paid cash then there would be a paper trail, assuming he gave full disclosure?

[Spacecadet]

A friends father had a similar problem a few years ago, he solved it by purchasing several high value cars which he had squirrelled away in garages that the wife knew nothing about. Once the divorce dust had settled he recovered the cars and sold them on... then put a deposit down on a f**king huge house

[ratewhore]

You can't, as you have to 'disclose' at one of the stages, unless, of course, you're willing to take a risk of being found out, and if found out the penalties can be severe.

Court takes the view that, if there is no evidence of assets then those assets don't exist.

Expense the hell out of the company and then start again...

[threaded]

What can you do with your money and property to keep it out of any divorce settlement?

e.g put the titles in a family members name and a swiss account?

You can't, as you have to 'disclose' at one of the stages, unless, of course, you're willing to take a risk of being found out, and if found out the penalties can be severe.

But one could for example set up a company in say Panama and have that own the property in the UK. Such a company that does no business in Panama will only pay about £500 taxes + local lawyer / accountants fees + etc. a year. With such an arrangement one could make ones children directors of the company and as long as the tax man doesn't know the children can inherit your property tax free as well.

Not that I know hundreds of people who have done exactly this.

It's also useful so that nosey types don't get to know just how rich you are. Use one company for a max of 5 houses.

[Gibbon]

Every time you go to a cash machine take out 50 more than you need, stash it for a while and then wire it to a offshore account, bahamas is good as no EU interference.

[DimPrawn]

Have the bitch killed.

HTH

[Churchill]

What can you do with your money and property to keep it out of any divorce settlement?

e.g put the titles in a family members name and a swiss account?

Don't get married!

Churchill - In "Pay as you go" mode!

[Fishface]

What can you do with your money and property to keep it out of any divorce settlement?

e.g put the titles in a family members name and a swiss account?