MONEY MORAL DILEMMA. Should Peggy pay back some of Archie's fortune?

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Comments

  • No. No comment really, just no feels right and making someone pay for the mistakes of an ex feels so wrong.
    I want to be credit card and loan free by Christmas 2010
  • Cerisa
    Cerisa Posts: 350 Forumite
    no. housewives often do laundry, cleaning, financial management, cooking, shopping, child rearing, ironing, sewing, cooking and more. His business would have been built in the extra work and free time not havign to do that gave him.
    £1600 overdraft
    £100 Christmas Fund
  • Peggy's call I think. Was it a fairly amicable split? Have they got kids? Can she live happily on less dough? Has Archie asked for a helping hand? Is Archie a nice guy? Is she a nice lady? Is this a chance to do a good deed or an opportunity for revenge? Will Peggy sleep well at night if she doesn't help? Us people and our stuff eh. What are we like.
  • If his money at the time of the divorce was primarily in shares, he had the opportunity at the time of the divorce to sell, converting to cash. Just as she had the opportunity to buy shares with her cash. She chose to keep the security of cash, he chose to keep the insecurity of shares. Why should she pay for his lost gamble ?
  • steam_dan
    steam_dan Posts: 97 Forumite
    Why on earth should she give him any money back? This is not a moral money dilemma. They divorced when the business was going well so she got what she deserved. If he has managed to run the business into the ground since the divorce then that is his problem not hers. Turn it the other way round, they divorced when he had nothing so she got nothing. Years later he has built up a successful business. Is he going to give her any more money. Of course not! Is she entitled to any more money. No!
  • No. As previously stated he would not offer her more if his business had been doing well over the last two year.

    More importantly if she gave him money how would he use it? If to prop up failing business then likelihood is that money would also be lost. I'm not 100% sure but if he is declared bankrupt then surely the money would be taken from him to pay off creditors unless it is a limited company. If he had any business sense he would have protected his personal assets so they were not part of the business and he would still be solvent even if the business failed.
  • Susan_Frost
    Susan_Frost Posts: 416 Forumite
    No, it was two years ago, and presumeably all fair and square at the time. I dont think there should be any ENTITLEMENT to anything back

    In the two years, the wife would presumeably have had to put the money "somewhere" and must have done something sensible to keep afloat, though probably also lost a lot in stocks and shares. People given a great deal of "cash" dont usually keep it as cash. They invest or put into a business.

    Short answer would be - no giving back.

    However, for me, if things had been reasonably amicable then I would probably try to help, even if it meant buying his house but letting him live in it. Would not GIVE anything, but would try to help in some constructive, none risky, way.
  • Taffybiker
    Taffybiker Posts: 927 Forumite
    steam_dan wrote: »
    Why on earth should she give him any money back? This is not a moral money dilemma. They divorced when the business was going well so she got what she deserved.

    It seems that many here automatically assume Archie did something wrong to cause the divorce. It works the other way round too. Peggy may have got not what she deserved, merely what she was entitled to. If this was the case, then yes, she should help out. On the other hand if Archie was the cause, then perhaps not.

    There are not really enough details to answer this one.

    Assuming they amicably split on the grounds of "incompatibility" or similar, with no children involved and still perceive each other as friends, and Peggy wants to help, then Archie should follow through with his bankruptcy. Any financial assistance received before the "Order" would most likely be taken into account and therefore become dead money.
    Try saying "I have under-a-pound in my wallet" and listen to people react!
  • No- she should not give him any money. A divorce should be just that - a separation without any ties.
  • LittleMissAspie
    LittleMissAspie Posts: 2,130 Forumite
    First Post First Anniversary Combo Breaker
    No I don't think she should. If they got half each then they were in exactly the same position after the divorce. Archie could have sold his shares or sold the company and had cash too. He chose not to, he chose to continue investing in his business. It's no different to Peggy using her cash to invest in a business which later fails.
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