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Original poster

Secret savings and divorce

104 replies

Blueberry6 · 01/06/2022 11:44

Hi all,

seems like my marriage is heading towards a divorce. I have some money saved in an account he does not know about. I saved it before marriage and kept it there for rainy days. I just read I have to declare everything. Will he get half of my savings? I can try and get bank statements to show I had it before marriage and not during. So technically nothing to do with him?

OP posts:
Andromachehadabadday · 01/06/2022 11:47

Generally yes.

But small details can change this why, if it’s a substantial amount, you should get legal advice.

length of marriage and relationship before could have an impact. So could yours and his earnings and earning potential.

How would you feel if they had money stashed away during your marriage and was now trying to hide it in divorce?

Onemoresleeptogonow · 01/06/2022 11:48

Imo spend it. On things you can sell at a later stage.

Viviennemary · 01/06/2022 11:48

Yes you do. It is illegal to deliberately hide assets when divorcing. There is information about this online.

Interested in this thread?

Then you might like threads about these subjects:

General money Relationship problems
Andromachehadabadday · 01/06/2022 11:52

Andromachehadabadday · 01/06/2022 11:47

Generally yes.

But small details can change this why, if it’s a substantial amount, you should get legal advice.

length of marriage and relationship before could have an impact. So could yours and his earnings and earning potential.

How would you feel if they had money stashed away during your marriage and was now trying to hide it in divorce?

Sorry the ‘Generally, yes’ bit was about it being shared and him being entitled to some / half of it.

Spending it, as op, suggests could also be seen as you trying to hide money. It’s really not worth the risk.

PaddingtonBearStareAgain · 01/06/2022 11:53

Onemoresleeptogonow · 01/06/2022 11:48

Imo spend it. On things you can sell at a later stage.

Don't do this. It could end up with you in all sorts of hot water.

Original poster
Blueberry6 · 01/06/2022 12:06

Thanks guys. argg that’s annoying. Maybe I should try and make the marriage work then 🤣

OP posts:
Isaidnoalready · 01/06/2022 12:08

Will you need it to leave the marriage? Flat deposit etc?

notacooldad · 01/06/2022 12:11

Imo spend it. On things you can sell at a later stage.

Don't do this. It could end up with you in all sorts of hot water
Like what? Couldnt it be argued that she needed a new car, TV , lap top....
After she saved up for things she needed.

GrazingSheep · 01/06/2022 12:14

How much money is it?

PaddingtonBearStareAgain · 01/06/2022 12:14

notacooldad · 01/06/2022 12:11

Imo spend it. On things you can sell at a later stage.

Don't do this. It could end up with you in all sorts of hot water
Like what? Couldnt it be argued that she needed a new car, TV , lap top....
After she saved up for things she needed.

Only if he can have the same for a new car, laptop, tv......

Justkeeppedaling · 01/06/2022 12:16

When you marry you bring everything you own into the marriage. That's kind of the point of it. Unless you had some kind of written agreement that you wouldn't.

DenholmElliot1 · 01/06/2022 12:19

Yeah I'm curious to know exactly how much we're talking about here 😀

Could you use it to leave?

Oceanus · 01/06/2022 14:25

Get the money out of the bank, close the account and put it in a safety deposit box in another bank. Or get most of it out and then put it in a safe at the same bank, if he asks where the money is telling him you went shopping or that you paid of legal advice.

Original poster
Blueberry6 · 01/06/2022 14:34

@Oceanus genius. Great idea .

@DenholmElliot1 few thousands 🤣 can’t really splash out on clothes laptop etc will be a lot of waste.

@Isaidnoalready great idea there. Maybe 2 years rent money upfront.

OP posts:
Original poster
Blueberry6 · 01/06/2022 14:35

just wanted to use for the little one. What if I transfered it to her savings account? She does not have one yet but could easily get one for her?

OP posts:
angstyaugust22 · 01/06/2022 14:41

Transferring to your daughter would be noticed when you have to provide bank statements for the form E.

Oceanus · 01/06/2022 14:50

I don't think you want to leave a paper trail. Moving the money to another account would potentially be flagged. You need to stash the actual money (safely and without telling a soul about it, not even very close friends/relatives) or convert it to sth that can either be hidden or disguised easily, that will always accrue in value and that you can easily convert back to cash in the future without much hassle e.g. gold bars, Chanel handbags, Hermés handbags, etc.

Original poster
Blueberry6 · 01/06/2022 14:54

@Oceanus thanks for that. Going to think about it. Glad I thought of this now and not after everything kicks off

OP posts:
MangoBiscuit · 01/06/2022 14:54

I would get legal advice. If you can prove that it was saved before the marriage, and you haven't added to it since, you might be able to argue that it isn't a marital asset, but as others have said, this will be influenced by other factors. It will also impact on the amount you can get in a settlement, because it will diminish your need for the other marital assets.

Original poster
Blueberry6 · 01/06/2022 14:55

Greateful for all the advice

OP posts:
JustOneMoreNameChange · 01/06/2022 15:14

You do have to declare everything. But my exH just lied and said loads of accounts didn't exist, even though I knew about them. I couldn't prove it (I couldn't exactly get his bank statements) and as he didn't provide them there was nothing I could do.

I wouldn't condone lying, but in divorce I discovered the hard way that lying works for the liar.

Maytodecember · 01/06/2022 15:22

If you are still married atm with no divorce proceedings started I’d spend the money on something that should appreciate but is personal property ( gold jewellery comes to mind) You might have to provide for yourself and children in the future. If my ex h had got 50% of my savings he’d have drunk it and probably died sooner than he did. Instead that money put my kids ( who were not his) through Uni.

Skinterior · 01/06/2022 16:08

You can also pre pay the divorce lawyer and get a rebate if you over pay. Potentially that's where it's going anyway.

Good luck OP

Original poster
Blueberry6 · 01/06/2022 16:09

@JustOneMoreNameChange thank you for for sharing that. No chance he can proof I have another account.

OP posts:
Original poster
Blueberry6 · 01/06/2022 16:10

@Maytodecember Ideally want to just keep it all for my little one so she can use in the future: gold, bank safe sounds like a plan

OP posts:
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