DH being sued: protecting our/my assets

[wink1970]

Your help would be appreciated.

DH is being sued in a civil court over a property matter. I am concerned if they win that it will cost us our house and/or life savings.

Is there any way of ring-fencing my half of the assets, other than divorce?

Thank you,

There is no need provided you already own half.

@Collaberate sorry i missed this on Friday.

I thought they could make us sell the house etc?

sorry miss-spell

@Collaborate. I thought we could be made to sell anything jointly owned? I'm sure our solicitor said we're viewed as 1 entity .....

They may gat a charging order over his interest in the property but your question was about securing your half share. They can’t touch that, but they may be able to force a sale later down the line.

Thank you. So if the house is in my name as well, the worst case scenario is they force us to sell to claim his half?

@wink1970

Thank you. So if the house is in my name as well, the worst case scenario is they force us to sell to claim his half?

Yes

thank you.

Even if they can get that order you should make it as difficult for them as possible. So, get your assets into your name. Money out of joint accounts etc. Put debt in DH’s name, assets in yours.

Have you got a solicitor who is dealing with this angle (not just the case)?

@PersonaNonGarter

Even if they can get that order you should make it as difficult for them as possible. So, get your assets into your name. Money out of joint accounts etc. Put debt in DH’s name, assets in yours.

Have you got a solicitor who is dealing with this angle (not just the case)?

I wouldn't recommend this. If he is left with insufficient assets he could be declared bankrupt, in which case the transfers into the OP's name are likely to be dealt with as transactions intended to defraud creditors.

Does he have any Professional Indemnity Insurance?

@PersonaNonGarter

Even if they can get that order you should make it as difficult for them as possible. So, get your assets into your name. Money out of joint accounts etc. Put debt in DH’s name, assets in yours.

Have you got a solicitor who is dealing with this angle (not just the case)?

I’m not sure this is the best advice, won’t they look into this?

Also, if the DH is guilty then whoever is sueing surely deserves their rightful money?

@wink1970 I would get proper legal advice.

This is why people set up companies and have insurance. If he is or was at fault he should pay. Good luck and hope is not as bad as you are expecting to be.

Bankruptcy can add £50k + to a debt (trustee in bankruptcy plus lawyers fees to set aside the gift). It would be a really daft move to do something like this.

OP, you do need proper advice on this not MN but there is often a lot to be gained from being difficult and moving the cash around. At the every least it can work as a negotiating tactic to offer some money back but not all on the basis that it will save the other side some hassle trying to get it off you.

However, yeah, get real legal advice from someone experienced and up for a fight.

@PersonaNonGarter

OP, you do need proper advice on this not MN but there is often a lot to be gained from being difficult and moving the cash around. At the every least it can work as a negotiating tactic to offer some money back but not all on the basis that it will save the other side some hassle trying to get it off you.

However, yeah, get real legal advice from someone experienced and up for a fight.

As has been said by a lawyer on this thread, it would be really daft to try something like this.

Thanks all, I didn't realise this had picked up further comments.

@prh47bridge I had read that about fraudulent intent, so won't do that. i just want to keep my own assets.

We do have a litigation solicitor involved and awaiting comments from a barrister, but DH doesn't want to ask about all of this unless they say "sorry mate you're screwed" (which we're pretty sure we're not, incidentally, as it's a case based on something that may not ever happen) whereas I'm panicking.