Divorce initiated, worried about losing inheritance to cheating husband(3 Posts)
I have recently initiated divorce proceedings as my husband has been having an affair and has no intention of leaving this other woman. We've been married for 22 years (together for 30) and have 2 children under 10.
Both my parents passed away in the last few years and I inherited their house which has just been sold. The proceeds have gone into my sole bank account. Whilst my solicitor is confident I will be able to keep all of this inheritance as it came about at the end of my marriage, I would like some advice as to what I should do with the funds in the bank account.
My husband has always agreed with me, in the past, that this inheritance would be for the benefit of our children (an investment for them/their education) and I want to make sure of that. I have already started dipping into the account, when I have had to spend £20/£50 here and there because my husband has incurred large credit card debits and there has been no money in our joint bank account.
I was thinking of "tying" the money up into a savings account so that it would be used for a future home for myself and the children. I won't be able to get a mortgage now due to being 50 and no job/earning capacity, so I would like to buy a house without a mortgage.
I am aware I am in a fortunate position, even though I never thought I would have to restart my life at 50. I don't want to squander the money but ensure financial stability for myself and the children.
I am in the middle of completing the Form E for the divorce and will have to show I have the funds but would prefer to show it as being tied up in something for myself and children and not be seen as having "x" amount sitting in a bank account.
I appreciate some good advice please as I am feeling very stressed and anxious about having something which could potentially be taken away from me by my cheating husband.
As I understand it from my recent divorce all your assets House pensions savings (which would include this inheritance) is taken into account and then a financial settlement is made splitting it equally. Unless husband is happy to sign that he doesn’t want the inheritance taken into account. My mum died after we’d split up but before we got as far as finances but fortunately my exh was happy to sign that he didn’t want any of my mums money considered when it came to sorting things. He did this as he knew he’d be v well off when his parents die and as we are now divorced I won’t have any claim on theirs money.
Get legal advice ASAP
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