QUESTION
Will this be beneficial for me and my family or not? Please state the pros and cons.
Asked on Jun 06th, 2013 on Divorce - California
More details to this question:
My boyfriend's grandfather is getting a divorce from his wife. The wife is a housewife and is working with an attorney to receive half his assets. He doesn't want her to receive his assets. So he is planning to relocate his equity and business under my name. He wants me to use my name for the business where cash flows in and out. Please take into account that I am currently a college student that receives financial aid and I am dependent with my parents taxes. My parents and I have extremely low income so we apply to low income services, free healthcare services, food stamps, etc.
5 ANSWERS
Alternative Dispute Resolution Attorney serving Ventura, CA
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Zahn Law Office
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DO NOT DO THIS. This is fraud and is potentially a crime, not to mention that it will disqualify you from benefits. Tell the grandfather to stop being such an a-hole and give his wife what she is rightfully entitled to receive.
Answered on Jun 06th, 2013 at 10:45 PM
His plan would render you ineligible for all of the aid you currently receive. I see no benefit to a plan that in the long run will succeed only in making things harder for you and your parents.
Answered on Jun 06th, 2013 at 9:28 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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He is trying to perpetrate a fraud on the court. It may be a crime, but is definitely wrong. Tell him no and if raises any kind of stink, tell him you will go to his wife's attorney and tell him or her what he tried to do. If it were me, I would do it anyway. The woman gives him her life and now he wants to cheat her. One more point. If your boyfriend is like his grandfather, you might want to reconsider boyfriends.
Answered on Jun 06th, 2013 at 11:23 AM
This will be seen as a fraudulent transfer for purposes of hiding assets. This is not a good idea.
Answered on Jun 06th, 2013 at 11:22 AM
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Don't do this! This is a fraudulent transfer and will seriously mess up your financial aid, as well as creating some really difficult issues for you if you are named on a business without any control (you open yourself up to be sued for obligations of the business) as well as what happens if you break up with your boyfriend. Please consult with a lawyer right away!
Answered on Jun 06th, 2013 at 11:22 AM