selling your assets for 1 dollar

harderthansoft · May 12, 2015

I have over heard folks discussing selling an item to an individual for a dollar so as not to loose it in a divorce. Does this really fly with the court system?

And if legit, what's to say the individual you thought you could trust wouldn't let you have your stuff back. Or maybe passed away suddenly.

If anyone has a first hand experience with this. Can you pass along your experience. Private messages are welcome.

The Longhunter · May 12, 2015

harderthansoft said:
Does this really fly with the court system?

Not even close.

Nor any of the other "strategies" you hear over a cold beer at the local watering home.

You know the pictures of the plane that crashed and burned on I-285 in Atlanta last week? Keep that picture in your mind if you intend to follow this course of action because that's you.

The main thing stupid stuff like this does is really really really tick off the judge that has to deal with it.

Sargent · May 13, 2015

Here's what I see:

Guy has $50k in assets. "Sells" them to his brother for $1 because of impending divorce.

Judge awards guy's wife half... and calls his bluff for selling his assets. Judgement for $25k issued to guy.

Unbeknownst to guy, his brother (who has his assets) thinks he's a moron and has been having an affair with his (now) ex-wife. They run off with his $50k in assets along with a $25k judgement on the guy.

Guy is broke.

StriperrHunterr · May 13, 2015

It shows intent to deceive. Generally judges don't favor people who do that sort of thing.

Keep everything on the level. He'll lose some things, but it won't hurt nearly as bad as trying to deceive the court.

T-N-T · May 13, 2015

I wouldn't sell my stuff for a dollar. Buy my wife knows I will destroy everything to keep it even.
we started wroth nothing and if need be, will leave with nothing.
Even.

Best you can do is sell it at the cheapest market price to a friend and hope you can afford to buy it back after you give up half the cash.

Or do like someone I know. Sell it all, spend the cash like crazy on vacation and stupid stuff. Then separate with nothing to divide.
The problem is, they worked it out 6 months later and had liquidated about 40k. facepalm:

JohnK · May 13, 2015

My wife didn't bring home any money but she did "everything" around the house so I could work long hours and days plus she kept the kids, a job in itself. I would be embarrassed for people know I tried to rip her off on her half.

harderthansoft · May 13, 2015

Well I would say that everyones situation is different. Mine is so different. I was in military,and worked one job my entire life. Wife wouldn't stay at a job more than three months at a time and the money she did make and mine was wasted. She is money hungry and wants everything. This is a situation of just not getting along. No cheating on either side. We just don't get along. Destroyed every car I ever bought her so last one I bought I said it be last. 2001 Camry and it's been a good one. I have close 200000 in mine and her none. Wouldn't keep one long enough. So I'm ok well not really but I've excepted it. She gonna get half. But I buy things and take care it. We can't even ride in a car and listen same stations. I'm going to fast,to slow. U see that car. It is bad. I never left cause kid. Then all her family passed. I stayed cause I felt sorry for her. No job no family . But now she working and I feel I need do it while she is. But I don't want give up my bike nor boat. And she won't just go and let's have lawyer write up papers and see we agree. She want it all

elfiii · May 13, 2015

harderthansoft said:
Well I would say that everyones situation is different.

The judge doesn't care about that. Hire a lawyer.

Fletch_W · May 13, 2015

The $1 thing is an abbreviation for money laundering.

If, before you ever talk about divorce, go ahead and liquidate your assets and find way to hide them, then start the divorce, so there's no obvious timeline of where your money went, then you might be able to get away with it. But it is money laundering.

The last thing you do is post about it on the internet.

I had a former employer try to sell me his business, and we had talked about partnership a time or two, but his asking prices was a little too good, if you know what I mean, I was suspicious and dragged my feet, basically declining the offer without making a big stink about it. As it turns out, about a year later, he divorced his cheating wife, and apparently had a private investigator following her for a long time, and his offer to sell me his company was clearly his attempt to do exactly what you are talking about. I'm glad I didn't get involved.

The Longhunter · May 13, 2015

harderthansoft said:
Well I would say that everyones situation is different. Mine is so different.

Trust me, it's not that different.

The professionals in the process (the judges, the lawyers, the police) have seen it and especially HEARD it before.

The best money you will spend is to retain a good lawyer to explain all this to you in person. If you worked one job your entire life, keeping your toys should be way down your worry list.

hilbily · May 14, 2015

Had a cousin years ago that his wife said she wanted a divorce and was going to take half of everything, so my cousin decided fine and took a chainsaw to everything in the house and cut it in half! His ex is still CensoredCensoredCensoredCensoredCensoredCensored to this day that he did that!

Crakajak · May 14, 2015

My happiness is worth more than 1/2 my assets.

StriperrHunterr · May 14, 2015

The Longhunter said:
Trust me, it's not that different.

The professionals in the process (the judges, the lawyers, the police) have seen it and especially HEARD it before.

The best money you will spend is to retain a good lawyer to explain all this to you in person. If you worked one job your entire life, keeping your toys should be way down your worry list.

As a young ex-military man who was in your very shoes, not too long ago , I would recommend you listen to the sage advice above.

1) Hire a lawyer.
2) Be nice to her even when she's not to you. Especially when she's not with you.
3) Keep everything above board.
4) Ask lawyer what your projected child support and alimony could be, and sock that away in savings from the moment you tell her you want out. When it's awarded it will be back dated to the date of the initial request. If you don't have it to pay, then penalties and arrears kick in. That's what gets a lot of young men in trouble for non-payment. Once you get behind you will never get caught up, and being off by one red cent triggers contempt charges.

This is not a situation to mess around with.

OmenHonkey · May 14, 2015

Sell the boat and hire a lawyer..

T.P. · May 14, 2015

Not just any lawyer a good lawyer. Don't ever skimp on fishing rods or lawyers.

StriperrHunterr · May 14, 2015

T.P. said:
Not just any lawyer a good lawyer. Don't ever skimp on fishing rods or lawyers.

Truth. Look at reviews and see who they complained about for being ruthless. Get them before she does.

harderthansoft · May 14, 2015

I beginning I heard from all the Father Flanagans. Now I'm starting to receive the advice I'm looking for. U would never understand why the need to do it unless you lived in this kind of situation.

Shopped and spent Bill money while u work 60-70 hrs. Instead of sticking to a set budget at Christmas when child 5 and every year after. Going over by 800 or 1000.

Come home after work at age 5 he is playing video games while she doing homework. Bed time 930 for him on school nights. Argue about it all. I told her one day he has to do this stuff in a class romm setting. 5th grade guess what can't keep up. She saying he got learning disabilities. In 10 grade saying she gonna let him quit. Oh fought for ever about that. One day I come home she done went and sign for him to get out. So no I don't want her have anything.

Robert28 · May 14, 2015

The best advice I've ever heard about divorce is be the first to serve the papers and get the biggest and baddest shark(lawyer) you can afford.

StriperrHunterr · May 15, 2015

harderthansoft said:
I beginning I heard from all the Father Flanagans. Now I'm starting to receive the advice I'm looking for. U would never understand why the need to do it unless you lived in this kind of situation.

Shopped and spent Bill money while u work 60-70 hrs. Instead of sticking to a set budget at Christmas when child 5 and every year after. Going over by 800 or 1000.

Come home after work at age 5 he is playing video games while she doing homework. Bed time 930 for him on school nights. Argue about it all. I told her one day he has to do this stuff in a class romm setting. 5th grade guess what can't keep up. She saying he got learning disabilities. In 10 grade saying she gonna let him quit. Oh fought for ever about that. One day I come home she done went and sign for him to get out. So no I don't want her have anything.

Your situation isn't as unique as you think it is.

Dismiss the wise advice you've received at your own peril.

OmenHonkey · May 15, 2015

harderthansoft said:
I beginning I heard from all the Father Flanagans. Now I'm starting to receive the advice I'm looking for. U would never understand why the need to do it unless you lived in this kind of situation.

Shopped and spent Bill money while u work 60-70 hrs. Instead of sticking to a set budget at Christmas when child 5 and every year after. Going over by 800 or 1000.

Come home after work at age 5 he is playing video games while she doing homework. Bed time 930 for him on school nights. Argue about it all. I told her one day he has to do this stuff in a class romm setting. 5th grade guess what can't keep up. She saying he got learning disabilities. In 10 grade saying she gonna let him quit. Oh fought for ever about that. One day I come home she done went and sign for him to get out. So no I don't want her have anything.

If you really believe your the only guy to marry a less than helpful woman(that's as nice as I could put it)... You really need to go talk to someone. I'm not being rude or anything but, facts are facts and a divorce is not cheap nor easy. Your gonna have to give up something's so you about as well start accepting it. Sell the boat or some stuff to a friend at fair market value with the understanding that you wopuld like to get them back later if possible (because things change) hire a lawyer and stay the course.

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