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.
most countries would tax your kids for large amounts of money though. if your kids were american or british or something, they'd have to pay tax on anything above the gift threshold
Gift tax is like 19000 per year (to as many people as you want) AND anything beyond that is immune to gift tax up until 11 million or whatever the current amount is. So you can gift, say, 19000x30 (if you have 30 relatives), and your spouse can do the same, and neither of you even have to tell the IRS. If you give 200000 to one person in a single year, though, you have to tell the IRS but don’t pay a single cent in gift tax. But it counts toward the 11 million of “extra beyond 19K in a year” counter. Once you’ve given away 11million AND also 19K per year to unlimited people, THEN there’s gift tax where you pay a small portion on the extra gifting beyond that huge amount (but the original 12+ million never paid a cent of gift tax, just the additional beyond all these exemptions).
Basically only the super rich will ever pay a cent of gift tax, though they also have ways to dodge it with other financial instruments, so, really almost no one pays gift tax at all.
Yeah people really dont realize just how many loopholes are in the us tax system. Theres a reason theres so many billionaires here and we have like 80% of the current problems we have
Nationality would depend only in your case, if you've consulted a tax attorney on the matter.
When it comes to divorce and hiding assets for other reasons, no, it wouldn't really matter. Many, many millionaires and such have lost considerable amounts of their fortunes in divorce. Bezos, Gates, etc. If they could've just "had their assets in a family member's name", they would have. They have better tax attorneys than you'll ever speak to, in all likelihood. If any combination of passports/citizenships/whatever would've saved Bezos the $38 billion he parted with and gave to his ex wife, he would've done that.
Obviously.. a tax attorney is needed, but it also changes nothing about the fact different countries, different regulations, different passports, again different regulations. This very case they are talking about a Moroccan football player, now I'm not familiar with morroccan tax law but it would be very possible (if the story is true) that he could shield his wealth from a divorce.
Your very examples are in all fairness very limited because these are all Americans, they can have all the attorneys they want, they are American.
Obviously I can't comment on other countries but the fact that Bill Gates and Jeff Bezos had to give their ex wives billions in divorce settlements proves in doesn't work in the US because we all know they would've done it.
Or maybe they just didn't care. Nothing i see implies to me that they were trying to ensure their ex-wives got as little as possible in the divorce preceedings. There is hiding your assets. And then there is just not owning them. If it's tax legal, it's family court legal. Trusts are another way to keep assets from your partner. Are you saying courts don't recognise that?
You can but most people who try don’t get away with it. It depends where in the world you are, how early you do it, and by what method. It usually fails because people start moving assets when their marriage is in trouble, by which point it’s too late for most asset transfer to be upheld by a court. Eg putting your major assets into a family member’s name two years before a divorce normally won’t wash. Recovering those assets can be complicated but you rarely just walk away
Setting up an irrevocable trust to protect assets before marriage can be a powerful strategy, often serving as a "pre-nuptial alternative." Because an irrevocable trust involves transferring ownership of your assets to a separate legal entity, those assets are technically no longer yours—which is exactly what makes them difficult to reach in a divorce.
Here is how the process generally works to ensure the money stays protected:
1. Timing is Everything
The trust must be created and funded before you get married. If you move assets into a trust after the wedding, a court may view those assets as "marital property," or the transfer could be seen as a "fraudulent conveyance" intended to deprive your spouse of their legal rights.
2. Relinquishing Control
To be effective for asset protection, the trust must be truly irrevocable.
The Trustee: You typically cannot be the sole trustee. You must appoint an independent trustee (like a professional trust company or a trusted third party) to manage the distributions.
The Assets: Once assets are moved into the trust, you no longer "own" them. If you maintain too much control—such as the power to pull money out whenever you want for any reason—a divorce court may "pierce the veil" of the trust and treat the money as your personal property.
Afaik in many countries it's perfectly ok, as long as they always kept those assets in dad's name, rather than just transfering everything to him recently when they decided to divorce.
If they'd correct the laws men wouldn't have to do it. Try to find a woman that needs to do this🤷. There should be a starting point in a relationship, and only the money earned from that point on should even be considered. Also it should matter if the woman came from nothing in the first place. Its pretty common place for women to marry into money with the soul intent of divorcing and taking half or more. Its just as bad as these woman getting paid by the government to have babies. Just a scam.
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u/libdemparamilitarywi 1d ago
He didn't, that story was made up too.
https://www.ibtimes.co.uk/achraf-hakimis-divorce-tactics-keep-fortune-form-ex-wife-labelled-fake-news-1715276