Where its safe to hide money?

StashOfCash · #1 08-10-2008, 05:59 PM

Hello, lets say that someone is married and he got a wife that wants to divorce from. Now, he doesn't want her to take the money he has in his bank account (30,000$) when they divorce and he want to hide the money in an offshore bank account.
What this person should do? a safe deposit-box is the best idea? in Switzerland? Panama?

I hope someone can give me an advice and help me out. This bank account should be untraceable, best privacy, TOP TOP secret.

GermanBoy · #2 08-10-2008, 06:13 PM

Put your money under you mattress, is my tipp.

StashOfCash · #3 08-10-2008, 06:24 PM

I've though about it

, not such a good idea.

PanamaLegal · #4 08-13-2008, 08:00 PM

There is a concept in law called a fraudulent conveyance. This is when a person removes assets from a creditor to keep them from the reach of the creditor. The divorce court judge would likely see this as a fraudulent conveyance and order the funds returned to the jurisdiction of the court lest you be held in contempt of court. This is called repatriation of funds. If you are not in the jurisdiction of the court (the country) and the money is also not there, then this scenario has a better asset protection value but it is usually a violation of law especially if in usa and get into criminal realm. In panama fraudulent conveyance is not illegal but allows for civil lawsuits, not easy for creditor to win. The other side will ask divorce court to remedy situation and the judge will be mad, is the problem. Some remove funds and then use this as a way to get a settlement. Be careful, see local legal counsel first. Hope this helps.

**capote** · #5 08-13-2008, 08:08 PM

I'd stick with cashing out that money and hiding it somewhere

PanamaLegal · #6 08-13-2008, 08:17 PM

When the judge sees the bank record show the withdrawl the njudge wants to know wwher the money is now. You tell him he tells you to bring it back t the jurisdiction of the court. You say you bet it on the horses and now the judge is let's say very mad with you and that is not good.