WA Disposing of assets to deplete net pool

Discussion in 'Family Law Forum' started by Hoang Trang, 13 June 2019.

  1. Hoang Trang

    Hoang Trang Well-Known Member

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    The OP has intentionally disposed of assets by withdrawing $100k cash and transferring another $120k to deplete the net asset pool. She claims it was used to pay back loans to friends which is absolutely a lie. Some of these claimed friends I have never meet and she has no evidence of this. Now she claims there are no funds left. I am in a absolute state of shock
     
  2. Atticus

    Atticus Well-Known Member

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    Rule number 1... If separation is on the cards, make sure all joint accounts require both parties to personally attend the bank and sign off on withdrawals and transfers.. Either that or withdraw 50% into an account in your name..

    All you can do now is apply for a property settlement if you havn't already and be diligent in making sure that the proper process of full and frank disclosure is adhered to... The court will require actual evidence of loans being made, and if they were made during the relationship, they are a joint liability...

    It dosen't matter if there are no funds left, if she is found to have removed joint money without your knowledge or consent, then in most cases where it can not be justified the court will consider it as an add back, meaning that when final orders are made, the add back amount will be counted as money she has already received from her percentage of the division
     
  3. Hoang Trang

    Hoang Trang Well-Known Member

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    Before initiating proceedings my lawyer wrote and request all bank funds be transferred into a joint interest bearing account.

    At first hearing she was ordered to provide full disclosure and a injunction not to dispose of any assets. She failed to disclose and we had to subpoena her bank records. She didn't attend the case conference hearing so we requested to proceed undefended.

    Few weeks before directions she came up with some bank statements showing asset dissipation ($240k) three weeks before the first hearing. Im still waiting for the bank subpoena for all of her accounts. On the last day before a springing order to proceed undefended, she filed her responding affidavit with 95% lies which will easily be disproved.
     
  4. Atticus

    Atticus Well-Known Member

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    Well as you are that far along, if you have confidence in your legal reps you should be guided by them... I'm a little mystified how a serious breach of a court injunction can go unpunished. I suspect if you just continue to the end she will be held to some account for all of this and consequences will follow...

    Sorry I can't offer anything more in the way of practical advice
     
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