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Advice on inheritance(4 Posts)
I'm in the process of a relatively acrimonious divorce. Unexpectedly, I've inherited a reasonably large amount of money from.an elderly relative.
Obviously it goes without saying that I'll put this on Form E and let my ex know about it. Because of our financial positions, I'm likely to have to pay my exH quite a lot on divorce, mostly because we lived in my house throughout a long marriage and he has no property.
I'm wondering whether I should save all the money I've just inherited to help pay for cost of divorce (we look like ending up in court simply because he won't engage in mediation). Or is it reasonable to spend quite a lot of it on house/garden/holiday for me and DC.
The sensible part of me says keep it all, and in the long term that's better. The other part of me says spend it and then it's gone and ex doesn't get to take a share.
Historically, I've been the saver and him a spender (on himself). So he's already going to walk off with a proportion of my savings do he can set up a new home for him.and DC when they are with him.
If you deliberately piss it away it's called "dissipation" and it's added back into the pot - i.e. he may get more of the house.
Don't do it.
Instead, get a top solicitor and have them instruct a top barrister who can hopefully ring fence the post separation inheritance. Not much to be done about the house, but a really good team might help you to "settle" your way out of it. Good luck.
Yes legal advice all the way. He may not be entitled anyway as the divorce is already underway.
I had a similar situation where I received some money a month after we separated (although were still living in same house at that point ). My lawyer said he would have a v hard time in trying to make a claim on it. But then again he has a much higher paying job than I do... I think it depends on whether there is enough in the marital pot for you both to be ok financially on 50:50 split and if so what's yours and not "earned" in the course of the marriage stays with you. Def get some advice in first instance. Good luck!!
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