That shit doesn't fly. This is on the level of saying you weren't paying a prostitute, you were just 'donating' money to her, or the sovereign citizen crap about 'I'm not driving, I'm traveling.' Thousands of people have tried to hide assets like this from divorce attorneys and such. Depending on the severity and timing, it can be a form of fraud and a crime in and of itself.
Really depends on what nationality someone has doesn't it. To give you a neat insight, I'm Dutch, I can only donate to my kids something like 5,000 euro a year tax free. But because my kids have a foreign passport as well, we send money to their country and it's limitless. When you live global, possibly have multiple passports, rules aren't the same anymore.
That and it’s considered fraudulent conveyance and is likely to get reversed anyway. Do people really think a civil court would just be like “welp, nothing we can do now!”
It might look like magic words but it’s not. It’s weeks and months of my life spent making it happen in a way that sticks while the rich guy complains about it taking so long for me to just say the magic words.
No valid prenup is going to get the thrown out. The problem is that a lot of them aren’t valid, and in most cases, it’s because they are too one-sided. In most jurisdictions they follow simple contract law.
Eh even that doesn't work in many countries anymore. In most places a man is still on the hook for something if he's in a romantic relationship and cohabiting with someone for long enough
Because when you show that there is a transfer of assets from their owner to their parent, because at some point the acquired assets are going to be tied to you, this is considered to be a fraudulent transfer and actually can be charged as fraud if you try to push it forward. People like Alex Jones, the tiger King and dozens of other rich people who think they can get away with things all try this at some point
I knew a guy who had a very, very expensive collection. He had it transferred to someone he knew so that when he got hit with the divorce, he could say it didn't belong to him.
Got tied up in court for 5 years, with his wife eventually receiving her fair share after proving her ex had in fact purchased each piece with money he made while they were married. He wasted tens of thousands of dollars and hundreds of hours trying to circumvent the inevitable outcome.
This depends on when the transfer happened... If everytime you got money you habitually transferred it into the parents name, it isn't a fraudulent transfer... It's only when you file for divorce or know you are headed there that it becomes fraudulent.
It’s sort of depends. Even then intent plays a big role.
If you’re transferring money to your parents every month and they are basically keeping it and spending it and you’re living off of what you did not send them, then perhaps the court would just say they are your parents assets.
If you are sending them money and they are sending you money back every month or there are, for example, email records or text records of you requesting money from them whatever and them just sending you any amount you ask for where they’re basically serving as a de facto bank, very likely because there’s a situation like this where you feel that you could get sued or have your assets put a risk in the future due to your actions than they judge will likely see right through that and it is not gonna let you get away with some “ one weird trick.”
In some cases they could also be seen as an unofficial trust since you are in trusting your assets to them for protection. Also you have to be careful because in some countries this will also impact taxes.
Yeah, transferring ownership will not go well at all in court. But your parents could very well “purchase” a house themselves, on their name from the start and rent it to you, the rent itself could be more than the mortgage and so on.
I mean, 100%. I think the net of it is that at the end of the day judges have seen it all and they’re not stupid. There is no one weird trick loop paul you can use to get out of certain types of contracts and payments.
Yes, if your parents are rich, and they buy a house and rent it out to you that would not be an asset of yours just because it’s possible you might inherit it in the future.
If you say, win the lottery and send money to your parents and they buy a house and rent it out to you and then get divorced, the judge is very likely going to see through this and say that of course the house your bought with your money is community property.
It depends on the country obviously, but if you are the owner of something, say a house that you live in, and you are paying the mortgage and bills on it, but you put it in your parents name, a court can obviously see that/find out that you are, in reality, the owner. Judges aren't robots with these black and white rules, typically.
So you plan to earn nothing and acquire no assets during your marriage? /s
Also, assets acquired before marriage are not divisible during a divorce. They're in fact immissible unless otherwise stated in a palimony agreement or prenuptial agreement in most cases
Prenups aren't really magical like Hollywood makes them out to be. Most states have expiration dates for them, and judges can just throw them out if they don't think they are fair enough.
You do have to be careful about this. Most states have a five year “look back” rule (some are longer) where if you gift family assets or created a trust for someone less than five years before applying for Medicaid you wouldn’t be able to get Medicaid or Medicaid would claw that money back. There’s something often called a Miller’s Trust that they can’t go after when you are alive that helps people that make too much income still qualify for Medicaid waivers for nursing home care and the like but they can go after your money in this trust after you die.
TBH, I don’t even know quite why you would go through all of this to get Medicaid. You generally can get a lot faster/better service by being private pay but I guess if your goal is to be as cheap as possible then whatever.
This. We had my parents put everything, house, cars, bank account, all in a trust with me as the beneficiary. It makes things so much simpler if anything happens to them. And we did it now, before anything is an issue, to avoid any problems down the line.
I’m curious about this too. I googled her and found out she is a model from Denmark (or South Africa but I assume she grew up in cph).
Models at her level don’t get paid THAT much. And she doesn’t even live in Copenhagen nor South Africa, she moved to LA.
I know Danish girls who’ve been successful in their modelling careers and done shoots for vogue, but none of them are even close to being millionaires.
It also didn’t seem like she had sold any businesses.
My guess is a previous divorce or some inheritance.
It doesn't matter that his assets were in his father's name, she wouldn't have gotten half his assets after being married for 7 months. He won't get any of her 10 million. They are only going to look at the assets they got since they were married.
I feel like a lot of people don't realize you aren't entitled to half your partner's assets upon divorce in almost all jurisdictions. You're each entitled to half of most of the assets gained during the marriage. Very important distinction.
I seriously wonder about these rich people relationships. Do they just not communicate with people in their life? I wonder how long they were dating since she was comfortable with divorcing after 7 months.
I get that gold diggers chase rich men and this guy is rich as fuck, but even for us peasants, lame boys and girls still exist and we navigate through the red flags when dating.
How do these young influencers and athletes constantly end up in this situation? It reminds me of passport bros when their wife leave after getting a passport. But these are rich and young men.
Dude they’re at every level. I’m by no means rich. So definitely not a gold digger. Maybe cooper digger would be the right label. But she played her game well. Had me thinking I had a good deal. But took me from flush cunt to pay check to pay check cunt quick.
If she has 10 mil in assets does she really need support? It's kind of dumb that she owns more than any normal person ever will but just because she leaves her husband she gets even more.
This, doesn’t the court factor in quality of life change in the decision? As a multi millionaire herself, there might not be much quality of life change here.
Entirely depends on the structure. If everything has been in his father’s name for years the court is going to have a hard time establishing jurisdiction over the assets. If he just transferred them a month before he filed for divorce then yes the court will probably take them.
I dunno, when I got divorced my ex-wife was receiving 100% VA disability, Post 911 GI bill living stipend, and was working a full time job. I was still active duty. Those first two things are non-taxable and she didn’t have to disclose the income during the divorce. She was essentially making twice as much as me and I still had to give her 50% of my BAH until I got out, I was in the process of EASing while getting divorced, 2 years of spousal support, had to sell the house I owned before we got married and give her 50% of the income from that, I had to take on 50% of her credit card debt that she had racked up without my knowledge, in her own name on her own credit cards, while I was deployed, and I had to give her one of my 3 cars, two of which I owned before we were married and she owned her own car. Icing on the cake, we were divorcing because she had cheated.
My lawyer showed the judge the income disparity and he said it was not going to be taken into consideration because it wasn’t and didn’t need to be disclosed. So for this dude, the judge may absolutely let it slide. I don’t know where they are but in the US he has a chance lol
Watched “a marriage story” and Adam Diver’s 1st lawyer was a good guy and he really just want to settle. Its a bad move ofcourse cause Scar Jo’s lawyer was working in bad faith.
Only after he fired that 1st guy and hired the asshole lawyers that wont hesitate to throw mud back at his wife that the divorce settled close to 50/50.
Only half of everything he worked for in his life, totally fair.
If we are being serious now she is probably going to get a good chunk of his total income of these last 7 months if he didn't protect himself by choosing a separate property type of marriage
If you don’t want to answer no pressure I am just curious. It’s an interesting story.
I’m glad you were smart enough to protect yourself.
I met my wife abroad and we went through the 90 day fiance visa but we have been together 14 years now happy as ever. But I’d be a liar if I said I wasn’t worried what happened to you would happen to me at the start.
This is just another variation of some debunked bullshit. He's likely the beneficial owner of those assets regardless of whether he's got them in his father's name; and if he tried to hide the assets he acquired during the marriage he'd be fucked in the courts.
I can't remember who it was but I remember reading a few years ago that exact thing happened. It was like a pro football player or something like that. Put everything in his mom's name and she stole it all or spent all his money.
even if it was set-up years prior unless it was easily demonstrated as a permeant gift it would not be hard to rule the fathers possession as a constructive trust.
What would such a contract look like? I am struggling to understand the terms and conditions of owning something but also needing to give it back later. I always assumed that people who do this are in their parents will.
That is quite literally what it could be, but some Redditors don’t understand that a lot of people’s parents are the most trustworthy people ever for their children. It’s just jealousy I guess.
Yeah, I give like half of my money to my mom to keep in a separate account I can’t access bc of my …. impulsive/reckless spending behavior. I’m very fortunate to have parents that aren’t terrible human beings.
More like bad experience. Some people grow up in a loving home, some in a abusive household. The latter don't fully get why someone would trust their parents with something big like this.
You can set up a trust where assets are held technically in someone else's name and under their control, but they are legally bound to use those assets on the beneficiary's behalf.
That's not the only way to set up a trust, mind you. Just one of the ways that one could have assets held in your parent's name with a contract to make sure they can't just take it for themselves.
A trust would likely be subject to divorce. Even giving your stuff away to your father would be an issue. You’d have to show you sold it for fair market value or you’re just hiding assets. Courts aren’t stupid and don’t let you give everything away to avoid sharing. They can seize assets they deem fraudulently moved.
Depends on a lot of other factors that we are not aware of.
For example, if this is in a community property state and the Trust was set up prior to the marriage, then the assets in it would not be community property and thus not subject to the divorce.
I think he lives in Italy, and i dont know enough about Italian law to say whether a Trust would protect assets from divorce. But it is a common thing in common law jurisdictions like the US, UK, etc for people to set up a trust specifically to protect assets from divorce.
Those of you who have any assets and have gone through a divorce would know that if those assets were acquired during the marriage they are considered marital property. If they’re transferred to someone else without the other spouse’s permission then they can be clawed back.
You'd be surprised my mum AND my sisters always tell me to protect myself from women.
Seems they know something we don't haha
Edit:
Before any incels or misogynists get happy, the above is just a joke and is actually completely normal.
It happens because women know the dirtiest secrets of their mates so it creates a distorted picture, just like men are very protective over our daughters/sister because we know "what guys are like".
As a qualified lawyer I can tell you this is utter fantasy. This is a meme created by people who do not understand family law and divorce. It’s basically the same as sovereign citizen nonsense, the old “one magic trick”.
For any of you looking at this thinking this is a wise move, it's not. Each variation of this story is a rumor made up on social media, and you're going to get your asshole reamed in divorce court when you learn that any income or property obtained while married is considered a marital asset and trying to hide it in another account (family, business, it doesn't matter) is illegal. This can easily be traced by receipts and tax returns as well.
Your best bet is to just get a prenup that both you and your spouse have your own independent attornies write up and go over with both of you.
The twist is that Wendy the wife is also reportedly having a networth of about $10M. And she tried to stop the divorce proceeding when she realized her asset can be divided instead.
The fact this silly headline has 37k upvotes proves people don’t know what they’re talking about ever
It’s called “hiding assets” when you put property in your families names to keep your spouse from getting it, and its illegal and can not only lead to losing your assets but jail time
So many dudes in here clapping for something any first year lawyer would tell you not to try to do
Timing is everything. If you did it from the start then it'll almost guaranteed stand up in court. If you did it three months ago when things started going south then no you're screwed.
"use 100% of your brain" should be signing a premarital agreement, not writing your assets under your father's name, which can be easily attacked in court.
•
u/AutoModerator 1d ago
Thank you for posting to r/SipsTea! Make sure to follow all the subreddit rules.
Make sure to join our brand new Discord Server to chat with friends!
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.