Talk

Advanced search

Question on sorting finance out

(35 Posts)
Heatherjayne1972 Thu 16-Mar-17 12:29:37

So I'm filling in a form which is asking for mine and exh finances
All ok until the question about savings. We been split 2 1/2 years and he has none but plenty of debt ( all his). but I have savings and very little debt
The money I have saved up is to pay for stamp duty/solicitors fees etc for my new place
Question is can the court make me give him half of that money? Or is it safe
Thoughts anyone

Namechanger2015 Thu 16-Mar-17 12:31:34

I think the courts will expect that money to be shared. I'm not a lawyer but going through the divorce process myself.

Minime85 Thu 16-Mar-17 13:27:11

Do you have children together? Will this be the family home? I would think that would go in your favour?

Heatherjayne1972 Thu 16-Mar-17 13:29:20

No been split nearly 3 years
Three dc. All his. I'm in rented after we sold the fmh The proceeds will be split 50/50
I'm looking to buy later this year
Seems unfair if I have to give money I've earned

IrregularCommentary Thu 16-Mar-17 13:36:34

Was it saved during your marriage or after your separation?

If the latter, a judge may look more favourably on you keeping more of it, but it's by no means certain.

tickingthebox Thu 16-Mar-17 13:40:55

if genuinely from after your separation I would be looking to "spend" the money swiftly - so draw out some cash and put it somewhere safe or whatever..... then it isn't an issue.

Heatherjayne1972 Thu 16-Mar-17 13:56:12

It really is from after the separation
Yeah I thought the best thing would be to spend it too
Might just pay the solicitor upfront for the conveyancing

MrsBertBibby Thu 16-Mar-17 20:02:15

Is this for a statement of information for a consent order?

Heatherjayne1972 Thu 16-Mar-17 20:04:12

Yes bertbibby. It is
I have to fill out the income debt/ savings I have

Minime85 Thu 16-Mar-17 20:15:11

Is it a clean break one?

Heatherjayne1972 Thu 16-Mar-17 20:21:18

Yes. I'm definitely going for a clean break. My solicitor says the debts (all in his name and largely run up after the split) are his and nothing to do with me

Minime85 Thu 16-Mar-17 22:00:02

Does he agree? Can you talk about it? Ex and I did ours via an on line that is why I ask and we didn't have to do form E it wasn't as detailed as we agreed on what it all was.

Heatherjayne1972 Thu 16-Mar-17 22:21:47

Yeah we have agreed to split the proceeds of our house in half and each keeping our pensions as they similar value
He doesn't know that I have money put aside tho- he will when he sees the form. Just worried that his solicitor will push him to claim on my savings

Familylawsolicitor Thu 16-Mar-17 22:29:46

If he has a solicitor and the settlement agreement has been agreed in writing between solicitors then it is extremely hard for him if not impossible for him to back out now -you could ask the court to hold him to the agreement made in writing. He's had his chance to ask about your finances and shouldn't have agreed to the deal without disclosure of it was important what you have now. Assuming you didn't misrepresent that you didn't have savings.
This info is for the court not an invitation for him to change his mind. Ask your solicitor for advice about a xhydias agreement if he tries to renegotiate once he sees your D81.

EnormousTiger Fri 17-Mar-17 13:59:53

Your solicitor could take the money on deposit now for future conveyancing and stamp duty costs I suppose. Lots of solicitors want money in advance. Check the wording on the form. If your solicitor has the money and you have agreed to instruct them on a purchase and the form says what cash do you have in your own accounts then presumably although it is stretching it a bit this is not money then in your account.

The problem is that debts and assets often are all just added up no matter whose name they are in so Mr waster who owes £100k when someone divorces and he is being divorced by mrs careful who has put by £100k benefits. It is very unfair.

Heatherjayne1972 Fri 17-Mar-17 14:32:01

I'm just filling the form out to get the consent order in place because I really don't want a future claim on my house There's a space on the form to declare savings I hold
Just seems so unfair grr
If we split up last week then fair enough but it's been three years almost
He doesn't have legal representation tho.
Maybe I'll just take the money out in cash and keep it safe somewhere

Minime85 Fri 17-Mar-17 15:12:15

Are you already divorced? My ex h just kept our savings we had separately and didn't declare them as we were agreed on it. If you can I'd put the money somewhere safe in whatever form that might be. But if debt was gained whilst married I would be prepared that you may be expected to cover some of it.

Heatherjayne1972 Fri 17-Mar-17 16:07:24

Well the debt he had was cc debt in his name only was mainly him taking cash out on the cc! My Solicitor said it would be hard for him to prove it was joint household debt.
Also he discovered what happens if you don't do your tax return for 5 years ( not worth it !) so he has a huge loan to cover that - this happened after the split
Not yet divorced am in the process of sorting the financials as part of it

EnormousTiger Fri 17-Mar-17 18:23:58

The priority is to house children usually so the parent they will live with might well get a more of the assets than the other one unless there is a lot of money. Whilst a credit card debt taken out during a marriage is a liability only of that one spouse that does not mean it isn't counted as one of the debts. You often get women too who have fun up huge bills on shoes, handbags, holidays and all the rest and again those are debts you tot up and include. I thought English law looked more at state of finances at date of divorce - later and Scottish at date of separation but I might be wrong. That is one reason to get these divorce consent orders agreed when you split up rather than leaving it until one of you gets richer or saves up or whatever.

PigletWasPoohsFriend Fri 17-Mar-17 18:26:18

if genuinely from after your separation I would be looking to "spend" the money swiftly - so draw out some cash and put it somewhere safe or whatever..... then it isn't an issue

Which will be seen when statements have to be exchanged and quite rightly scrutinised.

caroldecker Fri 17-Mar-17 18:44:45

Piglet I think the suggestion was 'spend' it before putting on the form, then no trace appears, ie hiding the assets from the court.

PigletWasPoohsFriend Fri 17-Mar-17 18:53:34

Piglet I think the suggestion was 'spend' it before putting on the form, then no trace appears, ie hiding the assets from the court.

Still would show on the statements though as I believe you have to give a years worth and questions would be asked. Even more so if it has deliberately been 'hidden'

Heatherjayne1972 Fri 17-Mar-17 20:28:33

But why should I give him MY money? I earned it not him
It's being spent on his children
He's an abusive violent bully
I just feel it's highly highly unfair to be made to give it him

Heatherjayne1972 Fri 17-Mar-17 20:33:42

And I only took on extra hours because he refused to pay maintenance
Fuming now

babybarrister Fri 17-Mar-17 20:47:26

Message withdrawn at poster's request.

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now