If your spouse is a business owner some of the following could also apply: Retirement accounts you were never told about.īusiness owners have more methods at their disposal to hide assets.Rent, gifts, travel, tuition, and other expenses paid for a paramour.A phony debt repayment plan to a friend or family member.Side deals with employers to delay pay increases, bonuses, equity buy-ins, and stock options, until after a divorce or when the asset or income would no longer be considered marital property.Purchasing certificate “bearer” municipal bonds or Series EE savings bonds.Using a child’s Social Security Number to set up a custodial account in the name of the child with the spouse as the account holder. Esoteric categories on financial statements for “business-related” expenses for business owners.Unreported income on financial statements and tax returns.Some involved in a divorce try to hide assets in a misguided attempt to deprive their spouse. Like a business partnership, dissolution requires division of assets, whether agreed to or determined through courtroom proceedings. Division of Assets in A DivorceĪ major part of divorce proceedings are focused on finances. Dealing in Cash, Multiple Foreign Numbered Accounts, Offshore and Shell Corporations, Family Owned Businesses with “Perishable” Inventory, Multiple Holdings in Precious Metals and Other Commodities, Bearer Bonds, as well as Real and Personal Property owned through layers of corporations, individuals and other entities.
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