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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Can I ring fence family home? Anyone know?

42 replies

Handover · 30/01/2022 21:00

Does anyone know how this would work?

I was left my childhood home by my parents in trust.

Me and H are not going through the best of times and I really want to make sure I'm ahead of the curve and protect what I can for my child.

My plan was always to keep my old childhood home, I absolutely love it and it's worth quite a lot, the plan is to rent it out when I'm ready to. I want to keep it for my DC as their inheritance one day.

Is there any way I can keep this from being included in the family pot so to speak if me and H were to divorce?

He has other children too and there's no way I want this house being divided up between loads of kids. I would be devastated to lose it.

Can I put it into trust for my child? Would that work?

I will speak to a solicitor of course but just wondering if anyone knows?

I know all assets tend to be marital ones but just wondering if it was any different when it's property rather than cash.

OP posts:
jamaisjedors · 30/01/2022 21:54

Be careful about whether joint money is being used for the upkeep of the property.

If so, your dh could claim it back.

Please get this straight ASAP so that the finances for it are completely separate from joint accounts etc. It will make things easier I think.

Asdf12345 · 30/01/2022 21:57

Seek legal advice (which on a matter like this should be reassuringly expensive).

TheOrigRights · 30/01/2022 22:11

The small inheritance from my mother was ring fenced in my divorce.

Morechocmorechoc · 30/01/2022 22:17

Yes trust should do it, but you'll have to pay capital gains tax every few years on property rises. Keep money for that. Make sure you have a good trustee if your child is under 18 who is your friend and not DH as they have to agree everything. You can't remove the trustee without them agreeing so you must trust them fully.

Form1ess · 30/01/2022 22:22

When a friend divorced, her husband wasn't entitled to a share of her house as she had bought it prior to their marriage so it wasn't considered a joint asset. I don't think they had a big legal fight though, so I'm not sure how open to challenge the situation was.

Workyticket · 30/01/2022 22:24

Do you and him live in it? As in - is it the marital home?

DixonD · 30/01/2022 22:25

@Handover

And yes I'll go to a solicitor asap, was just curious if anyone had any info.

As far as I can see from my googling (!!) A trust in DCs name may be the only way 🤞just hope it's possible.

I’m sure you can. My husband is a property solicitor and we’ve recently bought land he wanted to put into trust. We’ve not done it for other reasons, but he knows his stuff. Definitely see a solicitor.
buckeejit · 30/01/2022 22:28

Since you haven't stipulated it in a prenup, I'd think you basically both need to agree on a postnup

Clymene · 30/01/2022 22:29

@Witchcraftandhokum

To be fair, if this was a man trying to prevent his wife having access to marital assets there'd be hell on!
Not enough roll eyes in the world
MarineBlue33 · 30/01/2022 22:31

OP, you don't live in the childhood home though do you?
You should be able to put it in a trust for your dc

Mayorquimby2 · 30/01/2022 22:33

@Handover

I do have a back up plan if I can't. There is another asset (not property) which I think I'd definitely have a claim on as it's in joint names, I've not really done as much as him with it so he'd definitely not want me to have any of it. So I'll agree to leave that if he leaves the house.
But if you can ring fence your pot first you'll go after it.

Classy

WoolyMammoth55 · 30/01/2022 22:34

OP, my DH's parents divorced when he was young and hid dad put a property into trust for him, with lifetime rights for his mum to live there.

It was done in that way because she was planning to re-marry quickly and he didn't want her future 2nd husband to have a claim on the house.

You could go for a similar arrangement with your child - it is theirs, it goes to them on your death, but you have the right to live there (rent free) during your lifetime?

It's a different situation to yours in that the divorcing couple were both in favour of the arrangement - which your possibly STBX might not be. But it is a thing.

It hit a snag when she wanted to downsize and couldn't because of the Trust. But after spending £10K on legal fees they sold it, downsized her to a new house held in the same Trust, and DH got the 'released funds' in cash... It was a costly palaver! But apart from that it has done what DH's dad set out to do - her now-ex 2nd husband couldn't touch it when they split, even thought they had lived there together for 15 years...

Best of luck!

Original poster
Handover · 30/01/2022 22:46

But if you can ring fence your pot first you'll go after it.

No. I'm quite happy to leave it to him I've no interest in it at all.

The point was IF I can't ring fence the house and he goes after that, then I'll go after the one he doesn't want me to have. Which will hopefully get him to back off the house.

OP posts:
Original poster
Handover · 30/01/2022 22:47

@MarineBlue33

OP, you don't live in the childhood home though do you? You should be able to put it in a trust for your dc
No we don't live there. It's empty right now.
OP posts:
Original poster
Handover · 30/01/2022 22:50

We've never lived in it. It's never been the family home.

OP posts:
mocktail · 30/01/2022 22:55

Inheritance doesn't necessarily automatically count as a marital asset as far as I understand it, even if inherited after marriage. You definitely need to consult a solicitor though.

Bratnews · 30/01/2022 23:29

Are you in England?

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