jamesbond007
Diamond Member
Originally posted by: Ronstang
What I usually mean by hidden assets are accounts that hold cash that has already passed through the marriage. Most people allow each a certain amount to spend each month on personal things and hobbies. Women go shopping, I save it. It has already been divided up. No reason for her to get ANOTHER half. There are many ways to store wealth in ways no one would even know about also. Proving hidden assets is hard, especially when they are NOT IN CASH. I currently have my friend's entire gun collection in my safe. He has put a lot of wealth into the collection and she really knows nothing about it. Smart buyers don't buy guns at stores that create a paper trail. No need to register them in my state. I have all his guns and no one can prove he even has them.....case closed. He gets his divorce and gets his guns back. He could then quite easily convert them to cash. I did this once for a friend with a nice collectible car also.
While I like this idea a lot, would the court ever try to pursue where "Mr. Man's" $20,000 of income went to over the years? Could I buy thousand dollar bonds (in cash) and store them at a friend's house in a safe?
My parents went through a rough divorce when I was in the third grade. My dad makes didly squat and my mom makes the real bacon. Even till this day, she mentions how my dad took 'half of her retirement money' and hates him for it. To be frank, I would too. When it comes to money, I trust next to no one. I could never have a joint account and the thoughts of what to write on a prenup have passed through my mind.
I have a good friend of mine that is getting married soon. He and his girl are setting up a joint bank account and will pay all bills, his car and her car, from the one account, since everything will be 'our bills' paid from 'our account'. I told him flat out he's setting himself up for disaster, but he is playing it cool. I am fearful what will happen if a day will ever come of their separation.
This thread has some great advice. Anyone know of a great website dedicated to this sort of material?