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Is this money mine?

(3 Posts)
Fleminggot Fri 28-Feb-14 21:26:00

Split with ex a year ago. Divorce proceedings not started as yet as having problems with him.

Anyway since being on my own I've spent very little money as I don't do much. Ive also sold some of my things on eBay etc. I've managed to save about £3000. I am hoping that I can use this for divorce and towards when my house sells and I get the equity, the £3k can be used for stamp duty, solicitors etc, but I wondered if this is classed as my money or 'our money'

Cabrinha Sat 01-Mar-14 23:53:17

Even after divorce, until the financials are agreed, you can't be 100% sure that it is your money. When a Consent Order is done, it is done based on the money at current time, not at point of divorce.
I believe you can get a financial agreement before the divorce though.
You need a solicitor or at least CAB though, I'm no expert!

There are no absolute rules in divorce finances - you have every right to argue "excluding £3K cos it was saved after split from my personal affects" - but he can refuse to accept that. If I were him and the higher earner and wanting to be difficult, I would say that you only had stuff to sell cos I bankrolled you! (not saying that's the case for you!)

Use some of the £3K to speak to a solicitor, get financial agreement before the divorce if that's favourable to you, and at least you know whether you need to hide that money away somewhere!

worridmum Sat 15-Mar-14 20:05:56

cabrinha you know your advise about hiding money is VERY VERY bad advice my friend tried to hide £30,000 from he soon to be Ex husband but didnt hide it well enough and not only did she get a much much less favabour settlement (was going to get 60% of assits + £30k she had tried to hide so was milking him for every penny) judge took a very very dim view and basically awarded 50% of assists minus the pension she wanted and she had to divide the money she tried to hide

I dont know if it was just the judge being harsh in punishing her as it was on the verge of argeeing the settlement of 60% in her favour til the judge got wind of the hiding of assits

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