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ways to keep your bank in a divorce

Topics relating to managing people and relationships

Goldman snacks

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So I was wondering, let's say in the future one was to get married as a average earner, during the time while married one then through his job or business receives large commission payouts or profits (1mill or more), is there any way other than a prenup to avoid losing half in a divorce. eg by hiding it, etc.
Kinda random topic but it may be a situation I and many others could be faced with in the future and may be useful if anyone has been through this or has expertise in this area. I see this a lot and most of the Forbes richest are still married to their first spouse. I also have known a lot of people that have gotten divorced even though they thought it would never happen to them and didn't prepare with a prenup, thanks
 
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JasonR

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Are you getting married/divorced? If not, you're probably jumping the gun.

My solution...just don't get married. Marriage used to be a RELIGIOUS institution that the government has perverted. I am happy to be in a monogamous relationship, long term, but one of my stipulations is that we won't get married. If she can't handle that, she can leave. The only exception might be for a passport / citizenship status. No one is forcing me to get married.

I believe @Esquire and/or @GlobalWealth may have some insight here.
 

Goldman snacks

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I agree with the advice, but I mean what if someone is married And past the initial stage, and they come into money and then decide they want a divorce, I want to discuss the ways you can keep, hide or if you could even bury it in the desert breaking bad style lol
 

InformationH

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If you're not getting a divorce right now I wouldn't be worrying about it. Spend your time making more money and if your married work on your marriage so divorce is less likely.

If you are getting a divorce talk to a lawyer.

Plus
If you've made a million+ you can do it again. The skills you gained and used to initially make a million can be used over and over again. Rinse and repeat.

Also, for some, a spouse getting 50% after a divorce is less than they'd normally spend and as such could save you money [emoji6]
 

jon.a

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Why would you marry someone that you want to hide money from?
 
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JasonR

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50% divorce rate in the US seems like a logical reason

This is simply not true.

An excerpt from an interesting New York Times piece on the issue:

How many American marriages end in divorce? One in two, if you believe the statistic endlessly repeated in news media reports, academic papers and campaign speeches.The figure is based on a simple - and flawed - calculation: the annual marriage rate per 1,000 people compared with the annual divorce rate. In 2003, for example, the most recent year for which data is available, there were 7.5 marriages per 1,000 people and 3.8 divorces, according to the National Center for Health Statistics.
But researchers say that this is misleading because the people who are divorcing in any given year are not the same as those who are marrying, and that the statistic is virtually useless in understanding divorce rates. In fact, they say, studies find that the divorce rate in the United States has never reached one in every two marriages, and new research suggests that, with rates now declining, it probably never will.
The method preferred by social scientists in determining the divorce rate is to calculate how many people who have ever married subsequently divorced. Counted that way, the rate has never exceeded about 41 percent, researchers say. Although sharply rising rates in the 1970's led some to project that the number would keep increasing, the rate has instead begun to inch downward. [2]
From: https://www.quora.com/What-is-the-actual-divorce-rate-in-the-U-S-Is-it-really-50

Please, do your research before you repeat a useless statistic blasted on news media.
 
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Concept

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Why would you not consider a prenuptial agreement?

In regards to hiding how much you can earn, it can bite you in the arse. Many countries require you to have full disclosure regarding assets.

I'm guessing you are in the US? I'm in Australia but after a quick google search I found that Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin consider both spouses as equal owners of all marital property (a 50-50 split is the rule). However, the remaining 41 states are Equitable Distribution states. Settlements in Equitable Distribution States do not need to be equal, but they should be fair and equitable. In Equitable Distribution, several factors are taken into account, including the financial situation of each spouse when dividing assets.
(Source: http://www.forbes.com/sites/jefflan...assets-get-divided-in-divorce/2/#704cbe7ebd18)

So what the F*ck does this mean for you if you tried to hide assets?

Let me give you a good example from the land of OZ where we have an Equitable Distribution system.

With equitable distribution system, the court will determine what is “just and equitable” when dividing assets. The court tries to achieve what is considered a fair distribution of finances, assets, and liabilities. Before that, the family court will look at the total assets of both husband and wife, the contributions of both partners, and the future financial needs of both partners.
(Source: http://familylegalsydney.com.au/property-settlement/)

Now what happens if you hide assets from your former spouse?

In Australia "The Family Law Act requires full and frank disclosure of the financial affairs of both partners who have to swear an oath and set out a complete statement of income, expenses, assets, financial resources and liabilities. The court in recent years has been very harsh on people who have not fully and frankly disclosed their proper financial position."

In some cases, when the trial judge decided a spouse was trying to conceal their true income, they gave them less than 10 per cent of the asset pool.
(source: http://www.findlaw.com.au/articles/45/hidden-assets-in-family-break-up.aspx)

Obviously, this is an example. Check your local laws to find out what applies to you.

But the short of it is, if you chose to get married don't be a dick and hide assets from your wife. If you want more security around your assets, then get a prenuptial agreement. If you are already married, you can still get a binding financial agreement/post-nuptial agreement.

This is all general advice. If this isn't a rhetorical question, talk to a lawyer.
 

ApparentHorizon

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This is simply not true.
From: https://www.quora.com/What-is-the-actual-divorce-rate-in-the-U-S-Is-it-really-50

Please, do your research before you repeat a useless statistic blasted on news media. We are truth seekers here.

highest rate of divorce in the 2001 survey was 41 percent for men who were then between the ages of 50 to 59, and 39 percent for women in the same age group.

Women without undergraduate degrees have remained at about the same rate, their risk of divorce or separation within the first 10 years of marriage hovering at around 35 percent. But for college graduates, the divorce rate in the first 10 years of marriage has plummeted to just over 16 percent of those married between 1990 and 1994

What am I missing here?
 

OldFaithful

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It's a shame that you're in a position to plan this way. I know everyone makes mistakes though. Why not invest the effort into mending the relationship? There's probably more ROI here than one can calculate.

If you really want to hide $,$$$,$$$ just make a certified check out to cash and PM me for the address. I'll take care of it and you won't have to worry about her getting her hands on it. :D
 
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GlobalWealth

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So I was wondering, let's say in the future one was to get married as a average earner, during the time while married one then through his job or business receives large commission payouts or profits (1mill or more), is there any way other than a prenup to avoid losing half in a divorce. eg by hiding it, etc.
Kinda random topic but it may be a situation I and many others could be faced with in the future and may be useful if anyone has been through this or has expertise in this area. I see this a lot and most of the Forbes richest are still married to their first spouse. I also have known a lot of people that have gotten divorced even though they thought it would never happen to them and didn't prepare with a prenup, thanks
I have lots of advice. None of it I'd post on a forum though.

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GlobalWealth

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Why would you marry someone that you want to hide money from?
Sometimes you don't marry that person. Sometimes they become that person.

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