Just a quick one (offshore banking)

dqnet

sabretoothtigger wrote: »

If you marry in Hawaii then there is no asset split rights (in theory). Each party leaves with what they joined with.


Do a repo swap or something weird like the greek government and lehmans did. Except in reverse, an event which reduces your current worth but in future [unexpectedly] gives you back the wealth.

I cant really think of anything exactly but Im speaking along the lines of a bet. If its any known quantity or an investment, the court would surely take it as current wealth.
I can say the UK has some of the most liberal financial laws in the world regarding this kind of thing so your in the right place, you'd need expert advice on this.
You'd be risking a total loss and/or need alot of trust in the advice given though.

Sorry if its not clear, some case history Ive read on this mentioned shares in a divorce. In that case I think he lost a ton of money and didnt think it was fair ie. 2008 but it could occur in reverse possibly and legally make you far better off after a split is finalised.


I bet this trick is pulled all the time with really rich guys

No no, your advice was perfect... I just believe that if someone worked so hard in life and a divorce is a result of bad luck then surely its cruel to lose half of it..

Derivative

Marriage and divorce laws are strange, archaic things. I am of the belief marriage should strictly be the domain of the church.

Sorry I can't be of help on this issue.

Empty_pockets

And this is why I will never ever marry.

See far to many threads on here about either hiding a fortune or getting at one.
I find the whole thing quite distasteful.

Been getting hints from the MIL that it's time to make my Mrs a 'legal' wife but I've told my better half from day 1, no marrige, no kids.

Unromantic maybe, prudent definetly.

shaven-monkey

Rent safe deposit box in a bank.
Buy gold, silver, bearer bonds, garlic, whatever as wealth store.
Place the wealth store in box. No interest earned. No tax to pay on gold or silver coins even when you sell them in theory.

shaun_from_Africa

No tax to pay on gold or silver coins even when you sell them in theory

It depends on where the coins are from.
If they are UK legal tender coins such as Sovereigns or Britannia's then there won't be any tax, but if they are anything else then there may well be capital gains tax on the profit.

dqnet

shaven-monkey wrote: »

Rent safe deposit box in a bank.
Buy gold, silver, bearer bonds, garlic, whatever as wealth store.
Place the wealth store in box. No interest earned. No tax to pay on gold or silver coins even when you sell them in theory.

excellent idea.. this is pretty much the only way.
Dont get me wrong, I totally believe in the idea of marriage and being loyal through the marriage way as such. However as Empty Pockets suggets.. It's just not right to loosing it all. In some casses its actually depressing that someone who never did anything in their live gets to seize half of all your belongings by simply being binded by a piece of paper. That piece of paper means nothing more then a change of surname. Its pathetic.

opinions4u

dqnet wrote: »

excellent idea.. this is pretty much the only way.
Dont get me wrong, I totally believe in the idea of marriage and being loyal through the marriage way as such. However as Empty Pockets suggets.. It's just not right to loosing it all. In some casses its actually depressing that someone who never did anything in their live gets to seize half of all your belongings by simply being binded by a piece of paper. That piece of paper means nothing more then a change of surname. Its pathetic.

I will let others make the moral judgement.

Legally, as I stated earlier in the thread, a failure to disclose a hidden box full of goodies would be a fraudulent act.

How those assets are distributed on divorce would be a matter for agreement between the parties involved, and/or their solicitors, and possibly the courts.

If somebody had made no contribution to a marriage, this could be taken in to account. But my definition of contribution goes well beyond income and material assets.

Reaper

The courts seem to be just starting to take note of pre-nup agreements. I imagine it would make no difference to them if you are already married. Might a bit of a tricky sell to the wife if you are already married though! Good luck with that.

dqnet

Reaper wrote: »

The courts seem to be just starting to take note of pre-nup agreements. I imagine it would make no difference to them if you are already married. Might a bit of a tricky sell to the wife if you are already married though! Good luck with that.

Yea, I mean there isnt really a disagreement on giving her funds... but the real idea behind is that without solicitors or courts involved there should be some sort of 'survey' as such before, during and after...
It should be sort of standard!

And yes, even the other way round too!
I know some very wealthy partners who would be distraught to see half of their hard earned wealth go 'away'... (although most have taken measures like with gold and assets in other names)

Anyway, the point isnt to go illegally, the issue is more of a general discussion..

rockitup

dqnet wrote: »

Could I just not open an account in my sisters name and dump the money there? But what happens if that (sister dies) does it go to her husband?

If you wanted to go down the (naughty) route of depositing funds in your Sister's name and in the event of her demise, your funds would be returned to you then you can open a US Bank account and you can be named as Sole Beneficiary.

US bank accounts which are insured by FDIC have a guarantee of $250,000 (about £160,000) and with a couple of banks your funds can be held in Sterling, Euros, Swiss Francs, Aussie Dollars etc.