Protecting(hiding) assets in a community property state

[peaceomind]

Anyone have solid advice and experience in protecting your money from a divorce in texas? I am not getting divorced or plan to, but I have supported my wife for 7 yrs and put her through school. She will finally have a good job, but I will always make more than her, and have banked a lot since we got married.
So I am always nervous that she can take half my hard earned money just because the law says 50/50.

[instfixer]

Assets that you had before you were married might be protected.
It might take 10 years of marriage before the 50/50 split takes place
Assets from an estate might be protected. Only if it is not mixed in with other assets
As always consult with a lawyer.

[peaceomind]

That sounds close to me losing 50% of what I have earned to someone that has never earned a dime in the marriage.
I have talked to a few guys that were married and had made most or all of the money. I have heard from them, that once a lawyer gets a hold of the wifes ear they go after as much as they can.
So I am looking to hear from guys that have gone through it and not had to give up half somehow.
Maybe an LLC that can't be traced directly to me but I can keep most of my earnings in ?

[ShysterJon]

I think you're looking for ironclad advice from a lawyer for free that applies to every situation. That's silly. Every situation is different. You need to pay an experienced family law attorney and go through your assets in some detail. If you do this, and you go through a divorce, you might wind up with your fair share of the assets, or even more.

If you're looking for advice on how to illegally secrete assets, good luck with that.

[Unique_Carpenter]

Originally Posted by ShysterJon

If you're looking for advice on how to illegally secrete assets, good luck with that.

And you will entertain the judge.
Of the family law attys that I know (a bunch), they all have someone avail that can track financial stuff.

[1980saguy]

Originally Posted by peaceomind

Anyone have solid advice and experience in protecting your money from a divorce in texas? I am not getting divorced or plan to, but I have supported my wife for 7 yrs and put her through school. She will finally have a good job, but I will always make more than her, and have banked a lot since we got married.
So I am always nervous that she can take half my hard earned money just because the law says 50/50.

We attorneys are very good and finding hidden assets. The hardest thing to find is cash because if there is no paper trail, hard to find.

Also, the law does not say 50/50, it is a just and right division of the marital estate.

[instfixer]

Gold
Buy a gold coin every month or every other month., out of your petty cash.
BUT you have to be careful as there is now counterfeit coins that look just like the real ones.
Need to read up and figure out how to detect fake coins. A caliper and a postal scale are tools that come to mind.

I worked on a metal analyzer for a precious metals assayer out in LA. They take the bits of gold and melt it down and have seen bars of tungsten buried inside the gold. So stay away from gold bars

One might be able to hide maybe $10,000 a year but after ten years that is $100,000
PROBLEM: there is no interest that accrues on gold.

Also I think estates are exempt from community property so if you are the recipient of an estate, you really need to place those funds in a separate account

[peaceomind]

To 1980sguy thanks for the bit of knowledge.
2 more questions
So if there are no kids, and the wife has not contributed what do you see the split being if it is done in court. Say she is 2 yrs down the road working making 50k yr. I had my house 10yrs before she moved in, and she has not paid any bills or any toward mortgage. Plus I have my own LLC .
Also would a safety deposit box be tracked down ?

[tonicman5691]

Originally Posted by peaceomind

To 1980sguy thanks for the bit of knowledge.
2 more questions
So if there are no kids, and the wife has not contributed what do you see the split being if it is done in court. Say she is 2 yrs down the road working making 50k yr. I had my house 10yrs before she moved in, and she has not paid any bills or any toward mortgage. Plus I have my own LLC .
Also would a safety deposit box be tracked down ?

Just remember that the 50k she makes is typically regarded community property. That helps even out the balance sheet. Also, if she has an profession or job, that will further balance it in your favor, typically.

For the house, depends if it was paid off. If paid off, the house would likely be deemed your sole property.

In a worse case (ie not owned free and clear 10 years ago), the value of the house 10 years ago would likely be considered sole property, with the accrual from that time being considered community, especially if payments were made from your income during that time (ie your income is community, thus community funds were used to pay for it, essentially the community estate is 'buying' a portion of the house with the use of the community funds.) The issue of the house and mortgage gets really complicated in Texas, and I would supect similarly in other community property states.

For the LLC, depends if community funds were expended on its behalf.

And yes, a safety deposit box is very easy to find. And if not declared and it is found, judges get pissed.

All these tidbits are from experiences in Texas community property. No legal advice here, just experiences. And this only is directed to Texas community property, California and the others all have their own little unique wrinkles.

All in all, get an experienced family law attorney involved. The advice from a bulletin board like this is worth the paper its printed on.....

[Guest030824]

Gold and silver coins no paper trail all tranasctions are cash. Cost 1% above currant price and you lose 1% when selling back. Another method I have read about is to go to Vegas and spend your money gambeling but hide any winnings. Thr race track is another way of losing track of money. You will need to be known as a gambler to make it fly.

[Unique_Carpenter]

Tucson,
Sorry but I've seen two cases where the judge allocated all the gambling losses (atm withdrawals) against that persons share of marital assets.
As I and another mentioned above, bs is easy to trace.
And a judge will deal with bs appropriately.

[ShysterJon]

Why not kill your wife and bury her body in the backyard? That way, you can keep all the money. You won't have any integrity, but you'll have all the money. Maybe you could even sell her dead body to a cadaver bank.

[peaceomind]

Jon you come off like a Saint, maybe I am interpreting it wrong. You seem like a typical white night. Yet you are on a board that is technically illegal activities going on behind closed doors.
I am just trying to protect myself in case of a divorce. I have paid 100% of the bills, her school, money to support her dad. So I am not the bad guy here.
I work hard for my money and don't feel giving up 50% is fair.
So if you don't have a good option, get on your white horse and ride off

[tonicman5691]

Originally Posted by peaceomind

Jon you come off like a Saint, maybe I am interpreting it wrong. You seem like a typical white night. Yet you are on a board that is technically illegal activities going on behind closed doors.
I am just trying to protect myself in case of a divorce. I have paid 100% of the bills, her school, money to support her dad. So I am not the bad guy here.
I work hard for my money and don't feel giving up 50% is fair.
So if you don't have a good option, get on your white horse and ride off

I don't think I have ever seen a post of his telling people to or aiding people in breaking the law. He does offer sage advice on *what* to do if you do find yourself in trouble and states out clearly what certain elements are of particular statutes-- i.e. what a good lawyer consistently does. Just simply what their rights are under that regime of law. And if the inconsistency is 'hanging in a bad place with bad people', then 95% of all lawyers who do any criminal work and 60% of all tort lawyers would have no place at all anywhere they go to in the course of their work.

And, he never counsels people *to* break the law or *how* to cover up breaking the law.

In short, that is *exactly* what you are asking --- you are asking *how* do you *best* commit financial fraud not just putatively against your current wife, but on the legal system as a whole.

No one is saying that you are a "bad guy" here. But, you *are* asking how to commit financial fraud.

And an attorney is telling you that is neither a correct thing, nor a really bright thing to do. So SJs comment, while potentially over the top rhetorically, seems spot on imo in context.

Be good and have a good one.

[peaceomind]

Tman I appreaciate you input and responses as a professional.
Am I missing something? This site is for finding escorts or sugarbabies both of which are breaking the law, no ? The lawyers on here including Jon are not breaking the law on a montly basis?
If you want to say that I am being naive. to think someone will take a chance of telling how it can be done even on a private message board, then i get that.
But seems to me chosing what law you break and being judgy or condesending about it is bullshit.
I asked because I figured there where a lot of men on here with serious wealth stepping out on their wives. If they aren't hiding the money then they are gonna end up losing a lot sooner or later.