Protect Your Assets from the Government: Get a Divorce?

Of course, there are many different reasons why a spouse might want a divorce. And they don’t all have to do with marital fault of a spouse or incompatibility.

One of the less common reasons to seek a divorce: to try to shelter assets from the government.

That was the reason that former Qwest CEO allegedly considered divorce. He had about $52 million at risk as a result of insider trading, of which he was convicted.

When allegations surfaced against him, he began transferring some of those assets into his wife’s name.

But, for anyone considering something similar, will that really do the trick? Not necessarily.

Read more in this MyFox Colorado article: Prosecutors: Nacchio Considered Divorce to Protect Assets – Former Qwest CEO Faces Sentencing for Insider Trading Conviction.