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Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

Divorce and savings.

15 replies

confiscatedtables · 08/01/2024 19:39

How can I protect £4k of savings so my husband can't claim half if we divorce this year? He earns absolutely tons and I don't, so I will need money to set myself up with new place to live etc. I imagine he'd love to see me suffer financially. I'd love to gift it to my mum or take it out as cash.

OP posts:
Kwasi · 08/01/2024 21:10

You will also be entitled to half of his assets, so any savings, property, cars, pension, etc.

confiscatedtables · 08/01/2024 21:19

He keeps investing our money into his business.

OP posts:
Kwasi · 08/01/2024 21:24

Have you officially put money into the business as an investor? Are you a director or shareholder?

Surely you would need to rent a place and buy furniture before you sort out the finances and divorce, meaning you wouldn't have any savings left.

nc42day · 08/01/2024 21:34

I'd be doing a good impression of a squirrel, starting now.

millymollymoomoo · 08/01/2024 21:41

He can’t claim half
just as you can’t claim
half of his assets

you are both entitled to a fair share of the marital pot - of which the savings form part - and could be awarded more or less than half

Redlarge · 08/01/2024 21:48

Id withdraw some and give some to a friend because you owed them money.
All assests split half. One pot.

millymollymoomoo · 08/01/2024 21:50

All assets are not split half

all assets are in the pot

many divorces and up with unequal
splits for many reasons

Redlarge · 08/01/2024 22:01

millymollymoomoo · 08/01/2024 21:50

All assets are not split half

all assets are in the pot

many divorces and up with unequal
splits for many reasons

The calculation starts at 50/50 which will include her savings.

LemonTT · 08/01/2024 22:11

OP just spend the money on a place to live. This probably won’t factor into a settlement. Because it was used for living expenses.

GildedAge · 08/01/2024 22:19

Surely his business is a joint asset so you would be entitled to half it’s value?

millymollymoomoo · 08/01/2024 22:39

Calculation starts based on needs
as said all in the pot but certainly not always split 50:50 and very often not

and without demeaning op, solicitors and courts are unlikely to really care about this amount especially if he’s a high earner

confiscatedtables · 08/01/2024 22:56

Kwasi · 08/01/2024 21:24

Have you officially put money into the business as an investor? Are you a director or shareholder?

Surely you would need to rent a place and buy furniture before you sort out the finances and divorce, meaning you wouldn't have any savings left.

I thought you divorce first. I've got no idea.
I'm nothing to do with his business. He plus two others have a stake in it.

OP posts:
SuperGreens · 08/01/2024 23:52

His stake in the business is half yours, just as your savings are half his, in theory. In practice, possession is nine tenths of the law. Use your savings to pay your lawyer. Dont sign the final divorce papers until the financials are agreed and signed off.

Kwasi · 09/01/2024 06:06

@confiscatedtables

No. You are not expected to live together or sleep on someone's sofa until you are divorced. Of course your savings can be used to help you live.

Kwasi · 09/01/2024 06:07

SuperGreens · 08/01/2024 23:52

His stake in the business is half yours, just as your savings are half his, in theory. In practice, possession is nine tenths of the law. Use your savings to pay your lawyer. Dont sign the final divorce papers until the financials are agreed and signed off.

If OP and her husband keep putting money into the business, it's unlikely there's any profit to fake out.

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