Hide assets before marriage?

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Silvio

Entrepreneur
What jurisdictions would you use to hide assets before marriage\divorce?
Just register assets on names of offshore\nominee?

What about bank accounts, can you really avoid disclosure if it's an offshore that your personally own (the bank knows that you are the UBO)?
 

Sols

Staff member
Mentor Group Gold
A trust set up in for example Cook Islands seems popular for this, but make sure you sit down with a lawyer to actually plan this out in a way that's compliant with not only the laws of the offshore jurisdiction but also your local law. You'll want to be certain that you don't get yourself involved in fraudulent conveyance.

Also worth taking a look at US (South Dakota and others), Liechtenstein, Switzerland, Mauritius, Samoa, Isle of Man, and Jersey. Panama has historically been popular but since the Panama Papers, it's become less attractive.

For proper asset protection, you typically need to separate yourself legally from the assets through something like a trust. Using a legal entity (i.e. a company) - with or without nominees - does not sever the ties between you and the assets. A court can simply force you to turn over the company's assets, or force you to force the nominee to do so. By using a trust or similar arrangement (foundation, Stiftung, Anstalt), you don't have direct control of the assets.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
What jurisdictions would you use to hide assets before marriage\divorce?

Depends on law of country your getting married in. For example in some countries your wife in case of divorce is not entitled to assets you possessed before marriage. She can only get what was earned or acquired during marriage. So check your laws.

In the case of use of a Trust the Trust would be deemed illegal and can be challenged in court if assets placed in the trust are subject to a claim or pending claim from divorce. Meaning you can't just setup a trust to hide assets before a divorce. Any Trustee will tell you this. However it does not stop you lying to Trustee on due diligence documents and hoping the trust is not discovered via CRS reporting which trusts must do for involved parties i.e beneficiary, settlor etc.

What about bank accounts, can you really avoid disclosure if it's an offshore that your personally own (the bank knows that you are the UBO)?

No

In all honesty if you have these concerns about a woman in your life don't get married. A wife is supposed to be a life long partner and someone you trust with your life and vice-versa. If you have any reasonable doubts about whether you would want to share your assets with this woman then this woman is not the one.

btw in some countries men don't worry too much about where to hide their assets. They just worry where to hide their wifes body if she asks for a divorce :(
 
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Bmw850

BANNED MEMBER
Just coming to comfort OP. If I knew and thought about it before....
The funny part is that ( pathetic more accurate ) is that I made this mistake twice.
As @Martin Everson well said, check your country laws, but in all case , protect your asset and don't share everything with your wife !
PS : I can write a book about it, not sure it will interest OCT members rof/%
 

JohnSeed

Corporate Services
BANNED MEMBER
Depends on law of country your getting married in. For example in some countries your wife in case of divorce is not entitled to assets you possessed before marriage. She can only get what was earned or acquired during marriage. So check your laws.
That's the first step at all. If you won't give your wife anything from your safings just get a agreement setup with a lawyer so you may possible avoid.

Worst case, find a headhunter if everything goes wrong, otherwise
a-team.jpg
 

Silvio

Entrepreneur
Actually I'm not married at all yet, but just thinking how to plan ahead my assets (so I don't need to pay transfer taxes later...).

In some jurisdictions even if have a prenup the court can just deem it "unfair" and break it - then your assets are fair game...

So in that case I guess you put assets under company(ies) and then the trust owns these companies in turn?
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
learn from Jeff bezos Amazon founder how much he lost because of the marriage!

Wasn't Jeff worth over $110bn and had to hand over $36bn in stock for divorce. I am just guessing but I think he we still be financially fine through even the after life. I don't think if your worth over $110bn that losing $36bn will affect your standard of living much or anything you had planned in life.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
As @Martin Everson well said, check your country laws, but in all case , protect your asset and don't share everything with your wife !

I don't think there is any man alive that would share their whatsapp msgs with there wife or even give their wife access to their phone ns2. I would walk over a bed of nails before I let my gf near my phone.
 

hernanday

Entrepreneur
What jurisdictions would you use to hide assets before marriage\divorce?
Just register assets on names of offshore\nominee?

What about bank accounts, can you really avoid disclosure if it's an offshore that your personally own (the bank knows that you are the UBO)?
The responses of some posters here I kind of get. They say don't get married because you don't love your woman enough or its not a good relation. I disagree, people change/grow over time. You can marry a good woman who can grow into a bitch, you can marry a person who seems fine and turns into bridezilla and acts like a pig later or has unrealistic expectations or changes.

The one good point they do have is that there is a high chance the woman lawyer will break whatever effort you do to shield your assets if forensic accounting can find it.

But to answer your question directly.
1. I would look for jurisdictions that she would not expect, I'd spread it out across multiple ones and try to use cash and crypto and hard to trace forms.
2. I would avoid using accounts in my own name, but look for nominees and companys, trust and foundations layered in structures
3. I would look at shelf companies, or look to buy real companies, and strike deal with owners to keep their name on the accounts and but I'd have effective control of the account.
4. I would look past bank accounts because they are moving to full disclosure. Buying parts of real businesses, is very hard to track down, as is giving out real loans.
5. Find a busy restaurant/store etc. and offer the owner a low interest loan or offer to buy part of the business like 5-15%, do that across a bunch of them and your assets are well hidden.

PS. I almost forget the biggest asset protection of all. The best way to hide your assets from your wife, is to keep your mouth and wallet shut. Men's ex-wife only go looking for money when she sees you driving an expensive car, living the high life buying her luxury goods, luxury purse, luxury this, that and the other. When idiot men let their wife control the finances, and tell them about how much money they have to win them over, this is where your problems start.. If you didn't try to win her with money, she wouldn't chase your money after the marriage. If she thought you were just average income, she wouldn't be spending $30k on forensic accountants, expensive lawyer to find assets that doesn't exist. You may not live in the giant mansion just a nice townhouse. You may not drive the ferrari or the bently just the range rover or toyota or honda or whatever. The more money you let her think you have, the more she will chase you for your money.

If you must hide your money, hide it in assets women can't understand like collectibles, Persian rugs, weird art, etc. Assets she may not see as assets but instead as "junk". You also have insurance policies abroad and things like that. I believe they usually count as separate property.
 
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