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Relationships

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How do I protect my money?

1 reply

Cupofbijou · 14/03/2023 11:40

I know this isn't very romantic but I'm divorced and sensible enough to know I need to make sure I'm protected financially. OH and I are buying a property together. He makes more money than me but I have significantly more in savings. For our own reasons we don't want to get married ever.
We have found a property that we love however it needs a lot of work done. OH has enough saved to half in for the deposit but the work would need to come from my savings, or at least even the initial work will and after that he will be able to contribute on an ongoing basis as he gets paid each month. The works could cost about £40-50k so I want to make sure that if I finance it, that should we split up or anything happens to either of us, that the money is protected (for my own children should anything happen to me). OH is happy for this and understands but we're unsure the best way to do this, does anyone know what we should do? Can we have a legal contract drawn up by a solicitor or anything else?

OP posts:
Thisistyresome · 14/03/2023 12:05

Speak to a solicitor.

Even if you don’t you may find that a court may still award you more as a share, however that would be expensive and messy. Work out a fair arrangement get in contractually agreed. You will need a solicitor to do this for you (plus ensure it works properly in the event of death).

Often you find this is done with the purchase having different amounts but with your approach you need it properly planned.

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