Legal Question in Business Law in California
living in California, can a spouse start an LLC in another state without the knowledge or consent of their spouse, and then transfer funds to that LLC for the purpose of purchasing rental property and hiding the proceeds? not sure what area of the law to select below.
Asked on 10/28/23, 10:29 am
1 Answer from Attorneys
Until a divorce is filed and the subpoena is served, which orders a freeze on all transfers of assets, expenditure of funds except for necessities, etc., each spouse is legally free to do whatever they want with community assets. Where the scheme you describe would become illegal would be failing to disclose in a divorce or legal separation case all the details of where funds came from and went.
Answered on 10/29/23, 5:00 pm
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