Legal Question in Family Law in Massachusetts
Hiding Money/Divorce
I suspect that my husband is hiding money by putting it into my childrens accounts. He filed in September and in March he distributed $50,000 from a financial account, with only his name on it, to our childrens. The statement claims that the funds were distributed to a third party, which is our children.
Is it okay for him to have done such a transaction? I thought all money and accounts were suppose to be frozen.
3 Answers from Attorneys
Re: Hiding Money/Divorce
No and the court will not let him get away with that. tell your attorney. If you do not have one get one.
Please feel free to contact me if you have more questions.
Re: Hiding Money/Divorce
Indeed when a divorce action is commenced, there is a freeze on all assets of the marital estate. Your husband cannot unilaterally transfer money even if it is to your own children. You can bring a contempt action against him and have him return the funds.
Also as tax issue, he is only allowed to transfer $12 thousand per child gift tax free. Anything over $12 thousand needs to be reported on a gift tax return.
Re: Hiding Money/Divorce
As both prior answers have noted, your attorney (if any) should be taking this to the Court. It can be filed as a contempt, as a motion to require him to recover it, or (if necessary) in a separate equitable action. In any of these options, your directly related attorneys' fees are reasonably certain to be made your husband's responsibility.
If you do not have an attorney, or are not satisfied with your attorney's representation, you should get an attorney. Like any other attorney here, I am of course willing to discuss the matter further with you.
Greg Lee
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