Divorce's new weapon

[linelec]

This is a bit silly considering anyone with access to money can put it anywhere. Gold, silver, cash ect.

This is not silly at all - it just add to the list of ways to hide money in case of divorce.

[linelec]

Don't worry.. it's the Daily Fail.. the only people who take this 'news'paper seriously, don't have the requisite IQ to use bitcoin.. but they love to be scared on a daily basis with xenophobic stories about bad immigrants stealing all the wealth from their country.
They are about as anti-libertarian as you could get from a newspaper.

The DailyMail refers to an article of FT.

Bitcoin could be used to hide assets in divorces, warn lawyers
http://www.ft.com/cms/s/0/d1131630-9005-11e3-8029-00144feab7de.html

For the rest, go live in UK and have a taste of the libertarianism

[beetcoin]

This is a bit silly considering anyone with access to money can put it anywhere. Gold, silver, cash ect.

This is not silly at all - it just add to the list of ways to hide money in case of divorce.

yeah, pretty much. buying gold, silver, or cash takes up a lot of space.. which makes it much more difficult to hide/conceal. with bitcoin, you could have millions of dollars and no physical object to hide.

[Cryptopher]

This is a bit silly considering anyone with access to money can put it anywhere. Gold, silver, cash ect.

This is not silly at all - it just add to the list of ways to hide money in case of divorce.

yeah, pretty much. buying gold, silver, or cash takes up a lot of space.. which makes it much more difficult to hide/conceal. with bitcoin, you could have millions of dollars and no physical object to hide.

You would only have to hide the wry smile of smugness from carrying out such an epic circumvention of funds

[jjc326]

You do want to make sure you're buying the bitcoin well in advance of any troubles or divorce though.  If you have $100,000 in your bank account and suddenly it's gone and you claim you don't have any other assets, it's not going to work during divorce proceedings.

[bryant.coleman]

It is impossible to hide your fortune in bitcoin within a few months. You need careful planning like setting cash aside monthly and only buy bitcoin from ATMs. There is only so much you can hide, cos you still need cashflow for mortgage and bills.

Heard that some of the Bitcoin ATMs even ask for your ID papers. Won't be a good idea then. Buying Bitcoins through Localbitcoins.com is also a bad idea. The logs can be accessed by the law enforcement authorities. 

[beetcoin]

i can see a new futuristic rap song about bitcoin... gotta get away from your bitch, gotta get them bitchcoins.

[Ron~Popeil]

You do want to make sure you're buying the bitcoin well in advance of any troubles or divorce though.  If you have $100,000 in your bank account and suddenly it's gone and you claim you don't have any other assets, it's not going to work during divorce proceedings.

My Father in law is an attorney. They excel at finding that kind of stuff. You could only move currency in small amounts over a period of time.

[bryant.coleman]

My Father in law is an attorney. They excel at finding that kind of stuff. You could only move currency in small amounts over a period of time.

Hmm.... so you are saying that people should be planning for their divorce at least 1 year in advance.  No probs for me. More than half of my net wealth is stored in Bitcoins. And know what? My wife (or my other family members) don't even know what Bitcoin is. 

[madmat]

My Father in law is an attorney. They excel at finding that kind of stuff. You could only move currency in small amounts over a period of time.

Hmm.... so you are saying that people should be planning for their divorce at least 1 year in advance.  No probs for me. More than half of my net wealth is stored in Bitcoins. And know what? My wife (or my other family members) don't even know what Bitcoin is. 

But they will find this post, and you are done 

[CryptoKilla]

This is an interesting topic. I'm sure there have been many early adopters who have found love after the BTC boom and didn't necessarily disclose all of their BTC details to their spouse. This happens all the time whether it's with BTC, cash, precious metals or diamonds.

[Ron~Popeil]

My Father in law is an attorney. They excel at finding that kind of stuff. You could only move currency in small amounts over a period of time.

Hmm.... so you are saying that people should be planning for their divorce at least 1 year in advance.  No probs for me. More than half of my net wealth is stored in Bitcoins. And know what? My wife (or my other family members) don't even know what Bitcoin is. 

If you want to hide it yes, a lot of marriages end so quickly that it would be impossible to do it.

I am divesting from fiat as quickly as I can as well. My wife knows about my bit coin but she doesn't know how much I have.   

[theskillzdatklls]

You do want to make sure you're buying the bitcoin well in advance of any troubles or divorce though.  If you have $100,000 in your bank account and suddenly it's gone and you claim you don't have any other assets, it's not going to work during divorce proceedings.

My Father in law is an attorney. They excel at finding that kind of stuff. You could only move currency in small amounts over a period of time.

What happens if you move it all over to bitcoin, keep it, but say you lost it all at an online bitcoin casino?  Never getting married but that would be my go to play.

[keithers]

My Father in law is an attorney. They excel at finding that kind of stuff. You could only move currency in small amounts over a period of time.

Hmm.... so you are saying that people should be planning for their divorce at least 1 year in advance.  No probs for me. More than half of my net wealth is stored in Bitcoins. And know what? My wife (or my other family members) don't even know what Bitcoin is. 

You are cheating on your wife with Bitcoin?  Say it isn't so....haha jk

[PCUser]

it is not very clever. agree, all those who have money can put them where they want to

[Ron~Popeil]

You do want to make sure you're buying the bitcoin well in advance of any troubles or divorce though.  If you have $100,000 in your bank account and suddenly it's gone and you claim you don't have any other assets, it's not going to work during divorce proceedings.

My Father in law is an attorney. They excel at finding that kind of stuff. You could only move currency in small amounts over a period of time.

What happens if you move it all over to bitcoin, keep it, but say you lost it all at an online bitcoin casino?  Never getting married but that would be my go to play.

Then you run the risk of gambling charges and perjury if they can prove otherwise.

[keithers]

You do want to make sure you're buying the bitcoin well in advance of any troubles or divorce though.  If you have $100,000 in your bank account and suddenly it's gone and you claim you don't have any other assets, it's not going to work during divorce proceedings.

My Father in law is an attorney. They excel at finding that kind of stuff. You could only move currency in small amounts over a period of time.

What happens if you move it all over to bitcoin, keep it, but say you lost it all at an online bitcoin casino?  Never getting married but that would be my go to play.

Then you run the risk of gambling charges and perjury if they can prove otherwise.

All this is true, but have you been in court lately?   Most judges are literally like Dinosaurs...especially ones in Family Court.   They will have a hard time wrapping their head around BTC, and at the end of the day, they won't be able to understand what is going on.   They will just get a fair market value and slap the husband with a judgement.

If your soon to be ex-wife has enough money and is disgruntled enough to hire a forensic accountant, it may be time to waive the white flag.

[Ron~Popeil]

Husband accidentally loses private key........

That is actually one that might work. You can hide a piece of paper or a sd card pretty easily. 

[Ron~Popeil]

You do want to make sure you're buying the bitcoin well in advance of any troubles or divorce though.  If you have $100,000 in your bank account and suddenly it's gone and you claim you don't have any other assets, it's not going to work during divorce proceedings.

My Father in law is an attorney. They excel at finding that kind of stuff. You could only move currency in small amounts over a period of time.

What happens if you move it all over to bitcoin, keep it, but say you lost it all at an online bitcoin casino?  Never getting married but that would be my go to play.

Then you run the risk of gambling charges and perjury if they can prove otherwise.

All this is true, but have you been in court lately?   Most judges are literally like Dinosaurs...especially ones in Family Court.   They will have a hard time wrapping their head around BTC, and at the end of the day, they won't be able to understand what is going on.   They will just get a fair market value and slap the husband with a judgement.

If your soon to be ex-wife has enough money and is disgruntled enough to hire a forensic accountant, it may be time to waive the white flag.

Id she has enough money to hire one she has enough money anyway and doesn't need yours. 

[keithers]

You do want to make sure you're buying the bitcoin well in advance of any troubles or divorce though.  If you have $100,000 in your bank account and suddenly it's gone and you claim you don't have any other assets, it's not going to work during divorce proceedings.

My Father in law is an attorney. They excel at finding that kind of stuff. You could only move currency in small amounts over a period of time.

What happens if you move it all over to bitcoin, keep it, but say you lost it all at an online bitcoin casino?  Never getting married but that would be my go to play.

Then you run the risk of gambling charges and perjury if they can prove otherwise.

All this is true, but have you been in court lately?   Most judges are literally like Dinosaurs...especially ones in Family Court.   They will have a hard time wrapping their head around BTC, and at the end of the day, they won't be able to understand what is going on.   They will just get a fair market value and slap the husband with a judgement.

If your soon to be ex-wife has enough money and is disgruntled enough to hire a forensic accountant, it may be time to waive the white flag.

Id she has enough money to hire one she has enough money anyway and doesn't need yours. 

She may not need the money, but she will more than likely try to take it anyway.   I have seen ex-wives try to take away cars that ex-husbands need to get to work.   I have seen them claim that they are unable to work, and go back to get alimony extended after their exes made all the payments they were responsible for.   I have seen some serious atrocities and US courts allow them to get away with it...