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Protecting your assets during divorce

On Behalf of | Mar 24, 2022 | Blog, Divorce

Ending your marriage in Maryland doesn’t have to equal a huge financial loss. There are plenty of methods that you can adopt in order to protect your assets. Some of them may require quite a bit of forethought and fancy maneuvering. It will be up to you to do all that you can to keep your assets in good standing.

Protect your assets before you file

Before you file for a divorce, you need to make sure your assets are protected. You should already have separated your bank account from that of your spouse. You should also have taken your name off any other kind of shared assets. If the home you live in is solely in your name, you have a better chance of keeping it.

What asset saving strategies can you adopt?

The time for you to protect your assets is now. You can do so in a wide number of ways. If you own an offshore company, you can invoice yourself for a high amount. This will enable you to then send the money to a bank account that is located offshore and safely out of the jurisdiction of the court.

In some cases, you can even have your offshore company sue you. This will create a demand for money that the court may order you to send to them. All you really have to do is receive the suit and put up a weak defense that loses the case. You then send the money to yourself.

You can also consider wiring money to a casino in Las Vegas. Once you get there, you can spend a little bit or none at all. Just have the casino cash out what you don’t spend and wire it to an offshore account you can access later.

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