Asset Protection

_RPeed · 2023-09-22T10:11:38+00:00

I used all the options listed, within the legal framework of my jurisdiction. The divorce will be very cheap (for me).

You just need to understand the jurisdiction you get married in (assuming you’d likely divorce there).

Whether:

premarital property is separate - the majority of the world splits the growth in property, not the grand total, irrespective of pre-nups;
prenups are binding. In mine they’re iron clad and irrefutable;
whether all growth is considered mutual. In some cases eg making millions on the stock market, outsize profits would be considered the sole property of the spouse generating them;
the disclosure period: this can be anything from the right to demand 6 months of your financial accounts, to the burden of proof being on the other party I.e. they’d have to physically write to every bank on earth to ask if you had an account there.

Remington-Holmes · 2023-09-22T10:20:17+00:00

1) You're probably on safer ground if you work within the scope of what would be legally protected, rather than trying to be clever and hiding things that can be discovered.

2) Depending on where you live you can consider using things such as trusts.

3) Such planning is possibly largely only useful for people that begin with substantial assets - for you to get advise on, for your circumstances

4) Where much is at stake, one party could weaponise legislative systems by moving to a different state before commencing a divorce

5) Easiest way if you have a huge difference in assets and income before marriage is not to marry. Woman won't accept that? Tough luck gold digger! As ever your greatest power is to walk away from a situation rather than to fold to demands.

6) If you have loads of assets / income and you really do want to hide it, then do it properly and never disclose the truth of what you earn and your assets (but bear in mind that for adminstrative compliance, when married that probably leaves you executing all the admin). It probably is not a great idea for the wife to know exactly how much you earn. If you can keep the woman believing you earn less (maybe substantially less) then it reduces the likelihood of picking up a gold digger, or later the wife just taking your time and resources for granted. This approach obviously requires you to be reasonable with your spending too, and not playing the silly game of trying to impress strangers with all the rubbish that you buy.

7) If you have enough assets, then you can always consider strategies for weaponizing them in the event that an exit is required.

Also, rather than blindly following 'The Life Script", do some due diligence, for the potential partners, for how life will be for you in future, and for the act of marriage. For example you could do a SWAT analysis, or use other risk assessment tools. Is marrying to your overall advantage? A similar approach would apply to having kids, especially in the US and Canada where child support has little to do with costs of child rearing.

PsycKat · 2023-09-27T06:48:12+00:00

I'm not a lawyer, but it's worth talking to a professional to understand the legal implications of your situation. That being said, offshore assets and prenups are options to consider. Good luck!

Kevlar__Soul · 2023-11-08T00:32:27+00:00

Court finding out your hiding money is a great way to lose all your money real fast. Trust me they know all the tricks and they will catch you. Consult a lawyer and follow their instructions on best way to protect your assets in you country/state. Not some random people online. If they catch you hiding money your prenuptial agreement will get thrown out.

Pre martial assets aren’t part of a divorce it’s only everything earned after marriage that is split. Prenups are enforceable and if you actually get a lawyer and follows their instruction you shouldn’t have a problem and can apply to assets obtained during the marriage. What gets them thrown out is people trying to hide money or use pressure to get a signature. Only thing you can’t do on a prenup is child custody and child support as that’s a complete separate issue. You get what you pay for so spend the 3k on a good lawyer.

Then your best protection is to find a women who makes around your same income. Don’t let her become a stay at home mom. That way you won’t have alimony and most likely get partial time with kids. The asset split won’t be a problem because she has contributed just as much as you. She won’t be desperate to get full custody as she won’t need your money.

But let’s be honest you don’t have an empire worth protecting. Because if you did you wouldn’t be asking Reddit.

Title	Asset Protection
Author	IamJacksFailedRep
Upvotes	8
Comments	13
Date	September 22, 2023 9:41 AM UTC (2 years ago)
Subreddit	Posted in /r/askMRP
Original Link	https://old.reddit.com/r/askMRP/comments/16p5xnz/asset_protection/
Archive Link	https://theredarchive.com/r/askMRP/asset-protection.1232623 https://theredarchive.com/post/1232623

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