Divorcing to protect inheritance

[weightstrugglinmum]

Just as the title reads really, I'm wondering if anyone has divorced to protect their expected inheritance?

I'm thinking of this to protect myself and my young sons future as my in-laws financial situation is a poop show and when they pop their clogs it's going to be potentially very difficult to resolve and very costly. And I want nothing to do with that.

Your marriage is clearly a shit show so what does it matter why you divorce? Just do it if that’s what you want

If your marriage isn’t worth it then you are right to divorce.

Debt ends with the deceased ( unless you live outside of the uk?) how could your in laws financial affairs affect you, or is it that you anticipate an inheritance from your parents?

either way if you marriage is poor life is too short move on…

Is it really true debt ends with the deceased? What about a mortgage?

If I inherited from my remaining parent whilst still married, my 'dh' would be entitled to half of it, which in turn means he could use my parents hard earned money to resolve in-laws financial incompetence and mismanagement, basically bailing his family out.

Now I've typed that, that just can't happen.

Your parent could leave it in trust for your DC

Oh I see can you not lock that money and make it untouchable?… maybe I’m living under a rock with this stuff .

When I got divorced, my solicitor told me that if I had not shared my inheritance with my H, he wouldn’t have been entitled to it. Unfortunately I shared so he got half.
I mean, you need to think about your marriage, but if you stayed together and you put the money in a bank account or investments in your sole name, he can’t touch it, right?

I think that’s the word I was looking for ‘trust’

I thought any inheritance became a marital asset and could be half claimed by soon to be ex partner?

If there is a mortgage the house is sold and any remaining monies shared with debtors prioritised. If there is negative equity it is not inherited by nok. (NAL)

You need to take legal advice asap before embarking on a divorce based on half-truths and misinformation. Have you spoken to a lawyer before making this decision ?

I am divorcing my husband now because he is a financial disaster and about to drag me down with him. I have a substantial inheritance to come eventually and hell will freeze over before that is spent on bailing him out.
It is costing me, but not as much as his second bankruptcy will if we are married.

That’s a different situation to your post, if your IL are up shit creek and your (d) wants to swoop in and save them with your inheritance absolutely you can get out now to protect yourself. You don’t need a reason to leave a marriage but this seems as good as any. Bare in mind if your parents become unwell they may need their money for care so there may not be as much inheritance as you think.

Sole beneficiary to parents estate because other siblings deceased. Part of my inheritance went to joint savings, the rest, at DHs suggestion will got to DC.

I think if I got divorced sooner rather than later, things would be signed over to me then to minimise inheritance tax.

Absolutely, I don't want my parents hard earned money potentially bailing out his families mess, totally brought on by themselves

Did you guys just leave the "for richer for poorer" part out of your vows then?

I mean you’d need legal advice, but couldn’t you just get your parents to leave the money directly to your dc?

I didn't say those vows!

I’m with you on this one. I expect lots of people here won’t understand unless they’re in your shoes.
I wonder if what you’re scared of is you getting inheritance whilst married. You invest it in a bigger house, for example. Then you die first or get divorced and your husband ends up with either 100% or 50% (as starters).
what he does with that 50% or 100% is totally in his hands. He should be clever and make sure it ends up with your kids. But if he’s stupid or easily persuaded he could
a) remarry and his new wife end up with your kids inheritance
b) sell property to pay off his family’s debt, end up renting and then nothing for your kids

it’s something I lose sleep over too. My husband has not contributed equally to our marriage or house. My mum helped me bring up our kids. I have worked my arse off to get us to where we are on the property ladder. I earn much more but what’s really worrying is that I do ALL the admin and budgeting and planning and saving to get us where we are . He doesn’t even know how to log on to internet banking.

if we split up hes get 50% as a starting point. Any new GF and he’d let her take over all the admin because he doesn’t understand any of it.

No apparently not!
my inheritance came several years before we split and went on various things, including the house, but no, if you never share it, he should not be entitled. However if you don’t share it, it speaks volumes about your marriage!

Link to info

You have summed this up so well! And I wouldn't trust him to think ahead and protect things for the kids

Not necessarily true.

"Inheritance is typically considered a non-matrimonial asset. However, if those assets have been mixed with family finances or used for joint benefit, such as buying a home or paying household expenses, they may potentially become part of the wider matrimonial pot."

You put it in a new account in your name only and don't let him touch it.

However, you put "DH" in quotes, which makes me think that you don't like him. That alone justifies divorce.

There's a difference between two prudent spouses staying together during a tight period (e.g. job loss), and one spouse being a chronically financially-irresponsible liability to the other.