Is a spouse entitled to money in foreign accounts upon divorce?

Question

Hi, I'm trying to help get some research for my mother here. My father has taken pretty much all their money and put it into foreign accounts, some which have a high percentage return on the investment. Unfortunately, everything from their highest valued assets, to her car, is all in his name. I would like to think that although everything is in his name, he can't just leave her with nothing. Any information on the subject would be so helpful.

Also, I can't prove where all his investments are, in fact I "know" of several but can't prove it? If she is in fact entitled to these, is she only entitled to the ones she can prove he has?

And, would she have the right to all the money invested including the return, or solely on the initial part of the investment?

I would like to thank everyone in advance who took the time to reply! It means a lot! Thanks!

Answer 1

It depends on which state they live in. Some states are community property and some are common law. I would google that. I live in California which is community property. Any assets acquired during marriage no matter whose name is split equally. It depends on the state. I would have her get a consultation with an attorney who specializes in family law. Also, spouses are usually required to disclose all assets and debts. At least this is the way California is. Again, it depends on state law. Also, the longer they have been married, the better her case is because all of their assets would be joint.

Answer 2

the court can put him in jail until he pays you

Answer 3

Depends on the state you live in and any agreements you've made.  You need to talk to an attorney.

Answer 4

In most states, it is valued at the date of filing for divorce.  What a spouse is entitled to depends strictly upon state law.  In some states, if some of the money is inheritance she is entitled potentially to nothing.  So it depends on a lot of factors.  Assets sitting outside the United States are very problematic because even if she gets partial title to them, the foreign jurisdiction may refuse to honor the court order.  She needs a good attorney immediately.  This isn't a Yahoo Answers question, this is a state law question.  Certain jurisdictions will not alienate assets out of his name under any circumstance because of their national privacy laws.  They will not acknowledge he owns them and therefore cannot transfer them.  They view privacy a higher legal duty.

Answer 5

If you haven't already posted this in the legal section, I'd suggest you do.

From what I gleaned from my own divorce, I'd say he'll be expected to account for the assets. She needs to start finding every scrap of paper she can to help track down what he had.

Assuming they are going thru a divorce, she needs to get a GOOD lawyer and explain what has happened. A *good* lawyer will go through a process called discovery where he has to account for the assets.  Can you tell i'm emphasizing "good" attorney??  There's a reason for that. My ex went thru over $100,000 in 401k funds and my lawyer never pressed the issue. She mentioned it several times, but never followed through. I got nothing out of it b/c by the time we got down to brass tacks, he claimed it was all gone.

Answer 6

.  She needs a really good lawyer who specializes in this type of case FAST. Depending on how long they have been married, chances are that possessions such as her car would remain hers. Also, she would be entitled to half the value of the home in which she lives.  However, if he has put the money in accounts in order to hide it, she will only be entitled to a portion of what she can prove he has.  This is where the lawyer and his investigators will prove invaluable.  They have the resources to uncover what he has tried to hide.  An initial consultation would probably be at no cost to her, and at that time the lawyer would be able to advise her what steps to take. Excuse me for saying so, but the guy sounds like a real jerk. In my opinion.