Hino

I've managed to get myself into a 'bit of bother' and need to protect my asserts before the case goes to court.

I'm pretty sure that my home is safe as the title is shared between my wife and myself, but I also have a large wedge of cash that is solely in my name. I would like to move this cash out of reach of Australian courts before the court case and I'm looking for ways to do this quickly and safely.

I thought about opening a UK account and transferring the funds to UK, but I'm rushed for time and would like to move in a hurry. I don't want to be walking about with a briefcase full of notes and the only thing I can think of is a bank cheque either in my name or the wife's.

I realise that sitting on a large bank check is not without risk but it sure beats the cash option. Can anyone think of a better way to hold these funds out of a bank account until I know the results of the trial. Something that could be used to transfer funds overseas would be ideal.

Bearer bonds perhaps ???

Many thanks,

Hino

Pomster

transfer it to me - I can look after it safely

Hino

Thanks mate.....just PM me your account details

itigo

Surely the courts would look at any recent transactions and see you had the money in the recent past? Like the rules governing transfer of monies late in life to avoid death duties etc?

Hino

That could be right, but at the moment I'm just doing all I can to minimise my cash on hand, hoping that they don't dig too deeply. Also there is the consideration that they might get a court order freezing my accounts, which could place me in even more strife, unable to pay lawyers etc.

jad n rich

The govt knows about all foreign transactions over $10,000.

Centerlink and banks and ATO all link your banks transactions, instant access to whatever info they want.

Ive even had letters from Centerlink advising me where and when I have been overseas.

Hino

Hi Jad n rich,

I know they can trace the transaction, I just don't want them to be able to trace the funds. At the moment I'm thinking bank cheques made out to myself and hopefully payable into a UK account, but if anyone knows of any other way to physically move the cash, I'd be pleased to hear it.

AlliF

Im no expert on bank cheques but surely as soon as you do deposit the cheque it can be traced though? And if you don't deposit it can they not simply invalidate it from this end anyway by freezing your account?

Hino

Hi scotdownunder,

As far as I'm aware, the bank check is 'good as gold' and can't be 'invalidated' as the amount stated on the cheque is immediately withdrawn from your account. As for tracing the cheque once it's deposited, if this really does turn into a shit fight and I have to 'do a runner' I'd be hoping to cash the cheques in UK or failing that in Oz after opening an account in a different State. My thought being that while the authorities are aware of my present accounts, I can't see an all points bulletin going out to all banks to immediately report any account I open. I realise that they will report the matter as a matter of course, but if there is no reason to focus on me, then the few days lead time I would need for the cheque to clear, would be all the time I need to collect the cash.

Thanks for your response, I'm just searching all avenues at the moment.

Perth mint gold certificates perhaps ?

Amazulu

Krugerrands

Hino

Thanks mate, but that puts me in the same position as a briefcase full of cash. It'd be pretty hard to sleep with that much 'wedge' under the bed

itigo

Am finding this thread quite intriguing!!

Sally Redux

Jolly exciting isn't it

Hino

Not as intriguing as me mate

I don't think I've had a nights sleep since I heard the news that the bad guys were after me.

Due to the two month break that the whole of the legal 'profession' seems to take at this time of the year ( apart from my Government funded protagonists ), I finally get to see a brief tomorrow. Some three weeks after receiving a notification to attend for questioning, and less than five hours before the other sides "demand" for an interview expires............."not happy Jan"

carolinephillips

Have you been naughty?