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How to Hide Assets Ahead of a Divorce

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  • Description

    Attorney Philip Segal discusses how spouses shield assets.

  • Duration 4:03
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Hiding assets bring -- a -- A Tony Philip Segal is Whitney -- while current.

Now -- you deal with high end people -- and that -- they hide assets during a divorce to confuse the on the politics of -- got that.

And bring it down to a full most of our viewers are not suit behind and -- -- -- That in the middle land probably.

Bring it down to us how do ordinary people hide assets from that forma -- in a divorce.

Well it's important to say that studies show that that -- married about half people half the people conceal.

Financial transactions and and don't tell the full truth will move Philip Segal him nine -- attention on dangerous ground -- Half the people enjoying a marriage.

Concealed assets from -- spouse -- some financial transaction according to some hold us back could be because they have separate bank accounts could -- It could be -- it probably is certainly what we're finding out is that and this is we have started Charles Griffin intelligence started the divorce that's -- under blog.

Because we have noticed -- market driven demand.

By spouses to find assets.

From their that their -- of concealed.

For example you can form a limited liability company overnight in Delaware you can then use that company to buy a vacation property.

For 200000 dollars.

Most people are not equipped to figure out that their spouse is behind vacation property the bought the house so that's.

-- common but it happens it sure does -- frequently we find well it's certainly in our case studies of it adds so -- go down to Della.

I mean that it is -- on the -- economy on the phone Arkansas and LLC limited liability corporation now the liability company yet Mandela but a hundred dollars and that gives me in -- hundred -- that that gives you some secrecy.

That does give you quite a lot of secrecy but how -- want formal -- 200000 bucks -- whenever it is.

To the LLC in Delaware to go on vacation -- be 200000 dollars -- to -- into a bank account -- the LLC maintains.

Them -- LLC.

-- Buys a vacation property.

And the funneling of the money is something that you might have -- during your marriage.

If you're.

One half of all the spouses who were concealing.

Some of the some of some of transactions for example people with small businesses can funnel off money they can cook the books while they're married.

And say they're not doing as well as they really are some of that money goes into a separate account it goes into the LC account.

Gets the house.

And then when the divorce happens we get called in the trying to figure out but why do have a smile on effect is business boom thinking if the -- has its surreptitious pass it creation mode.

I'm smiling because.

No matter how many times you talk about it and no matter a time to warn people that might happen they say it probably won't happen to me in the the does happen to them and it's.

And I I smiled but but really a divorce is a terrible thing and it it people's lives get blown up and and our clients often come to us really in distress.

And and we'd like doing this because it actually helps people.

And and we find that even the people with with modest means can sometimes get great help if someone's.

Hidden lottery -- we have a case where someone hit a 100000 dollar.

Lottery winnings where the -- gambling winnings.

Or -- hide a fur coat for 40000 dollars in the PO box they've been maintaining secretly for seven years we found that.

So when you could really help people it's it's not.

This.

I guess I was just -- -- the cynical view of marriage and -- -- kind of cynical as well thanks so much just.

Well the sample is skewed because don't forget if it's almost not getting divorced and doesn't need to find -- if they don't come to me.

So I get the worst case scenarios every bit of the calling and it Charles Griffin but it is -- this booming -- single bit we're hiring.

-- put it that yeah hiring we are hiring another investigator because of that very thing.

Help wanted sign that -- -- office Philip thank you very much indeed -- -- resident Nikes.

Are.

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