How long were you married? Pre-marital assets and funds derived from them are usually considered separate property. You should see a divorce lawyer ASAP and not be taking advice from strangers on the Internet. If you lie, you may very well be caught. AT best you kill all credibility with the divorce judge, lose the marital portion of the coins, and be stuck with thousands of dollars in attorney's fees (yours and hers). If you lie during discovery, you could face perjury charges. Lying is not the answer here.
If he sells them for less than fair market value or "gifts" them as suggested, then he is potentially opening the purchaser and himself to a fraudulent/voluntary conveyance suit. The transfer could potentially be set aside. When discovered, it would cost him in attorney's fees.
Define fair market value. At the end of the day that’s a very subjective idea and would be difficult to define. I would suggest selling them for face, after all that is the value listed on the coin. Again speak with a lawyer before taking any action.
How do you know her purposes are devious? You have no idea the cause of the divorce, and regardless, if assets were purchased using marital money then she is entitled to her fair share under state law. What you suggest is devious and outright fraud.
If there is a dispute in value, the judge gets to decide with attorney's fees at $300+ an hour for your lawyer. If you are selling bullion worth about 11x face as of the moment this is written or certified high value numismatic value coins at face or for well below auction records, then you will lose and will likely end up paying your ex's attorney's fees in addition to your own. There are grey areas to be sure, but the proposals in this thread aren't close. Trying to be cute will bite you.
It really depends on what was asked. What the OP seems to have said is the the collection needed to be sold, quickly. From the sounds of it nothing legal has been drawn up yet, indicating how the sale needs to take place, values for coins etc. So, what the fastest way you can think of selling coins? It’s about a 2 minute walk to the nearest bank for me.
That's not going to fly in court. Wasting of marital assets can be imputed against him and apply against his side of the ledger when it comes to dividing up the house, cars, bank accounts, etc. He can ignore me if he wants to, but he would do so at his own peril.
Put another way... For every cute scheme you craft to dry to defraud your ex out of her share of marital assets, there is probably at least one other case where this has been done and the laws of the state likely address it outright or there are controlling decisions from appellate courts in his jurisdiction. No sane person would do anything without seeing a good divorce lawyer in his jurisdiction.
A 40 year collection is pretty big . There's noway she knows everything in it . A lawyer can only go after, what is known to be there . That's it ... Start getting rid of them now, and stall her on the big D . Sell them right under her nose . Have no mercy, my friend ...
I am not sure that anything can be adjudicated until the papers have been filed and a court date is set. I have been through two divorces and until the point that a hearing is set, all is fair game.
I was lucky that me and my ex parted on good terms 8 years ago. Although my collection wasn't much, she could have cared less about my coins. She had more money invested in stained glass than I had in coins. I can't see how she can claim half of your collection as I'm sure she spent equally during your marriage. What assets does she have that you can demand her selling?
Two thoughts came to mind for me: "Oh, what a tangled web we weave, when first we practice to deceive!" (Sir Walter Scott, 1808). And, An a personal story of my friend's father in law that bilked millions of dollars out of peoples savings with his bank, including a neighbor of mine., before the feds shut it down. The man owned several million dollars in quarter horses amongst a lot of other stuff. This was in the 1980's when that meant some serious money. He filed for bankruptcy and started hiding assets everywhere. He signed over the titles to the quarter horses to the guy that took care of them on a daily basis. After the bankruptcy the guy didn't give them back to my friends father in law....
Filing for divorce and filing for bankruptcy are two different animals. One forgives and the other doesn't.
An adjudication legally effects the division. That does not mean the things that happen before the divorce aren't considered. If he is as sleazy as you apparently are and is willing to defraud and outright steal from his ex wife, then she would be justified in divorcing him... just saying. You know what they say about karma... She can hide assets too.
I saw in a movie once a guy went to all the good divorce lawyers in town and discussed some matters of a divorce. Then when she went to the lawyer they couldn’t discuss anything with her because it was a conflict of interest or something like that leaving her with no good lawyers.lol
Stupid guys finish last. She probably has access to his bank records and credit card statements already and if not, she can easily obtain them via subpoena. Ditto for PayPal records. You don't think she knows about those? Collection activity is a permissible use for accessing someone's credit report. Bank account and asset searches can be performed via Lexis Nexis or other service. She can find the IP address from his home computer and locate all of his browsing activity, issuing subpoenas for his information here. If you've posted a coin here, she can also find it. Nothing in the public domain ever disappears. If he has ever used the coins as collateral for a significant loan, there are likely UCC filings.
It sure does, until the papers are filed it's all fair game. When assets are labeled in the divorce is when the division begins.
I'm fully aware of this. It was something that came to mind when the discussion turned to giving the assets to others to hold. Doesn't matter if it's a divorce or bankruptcy. You may never get them back.
