i'm going to leave but i need to hide my cash from him

[wheredoistartmrs]

i am about to separate from my emotionally abusive husband, he will make it difficult.can i stay in our house as we have 2 kids together?, i also have 60k in savings that i need to hide from him. i need it for us 3 and i felt since i've saved it over the last 20 years whilst he's spent all his money i don't want to share it!. is there anywhere i can put it so no one can see it or know it's there.. thanks

Try posting this in relationships too x good advice there

Open new account, in new bank and transfer (as it is a large sum there will probably be extra security measures - I hope it is not in a joint account?)

Good luck and well done for saving so much.

Can a trusted relative open an account in their name and you gift it , although it will still be for you , so the money isn't financially attached to you iyswim , just until the dust settles,

good luck !

Make sure your new account isn't with the same bank you usually use and when you go to interview to open one maybe explain and have the account no paperwork so you get no letters, or have them sent elsewhere.
I saw on relationships where a lady got caught out by the bank including her new bank acc statement with the one for the joint account, don't fall into that trap x

And good luck

Does he know they exist at all? If so expect to have them raised in divorce; they will almost certainly be treated as marital assets. Just because he can't get at them now doesn't mean they are safe in the long term I'm afraid.

I'd strongly recommend you get legal advice from either CAB or a solicitor. The law regards all assets acquired during the marriage as joint so strictly-speaking you would be unwise to think you can simply hide your savings account and there will be no consequences.

Ultimately, it will come down to what you agree between you. If he was a reasonable decent person rather than a bully you might be able to negotiate keeping your savings in exchange for a lower consideration on the marital property for example. But if he wants to make your life awkward and demand precisely his legal entitlement then you should be prepared to share your nest egg.

Could you open accounts in your children's names and only you are the overseeing adult. Think there is a maximum you can transform into them before you have to pay tax (even though children don't normally pay tax). At least you can access this money immediately. Get the statements sent elsewhere.

Have had a look and children can have up to £9440.00 before being taxed.

You can't gift all that money, the person being gifted will have to pay tax on it.

I understand you need to make a statement of your assets when you divorce so you will be making an incorrect statement if you hide your assets. Has your DH no idea you have this 60K? If you have successfully hidden it for the last 20 years is there any point in moving it now? If he thinks you have money I think he would try and track it down.

The only way of doing this is to have a friendly divorce settled either between the two of you, through mediation or possibly collaborative law. If the court is involved a full financial statement with supporting documentation will be exchanged and that will include 12 months bank statements. Any transfers relating to 60k coming out of your account are likely to raise questions!