Questions about Divorce

widler32

Hi,

For those of you who remember me asking about how to get a bank account without post being sent to your home address, my friend has finally moved out and into her own rented house. Her sister has moved too, but her child is currently spending one week with mum, one with Dad, this was decided using their Pastor as a mediator, and is to be reviewed after 1 month.

Financially my friend can just about afford to run this new home on her own income, but is now no longer contributing towards the old family home. Husband has yet to get his own bank account so she has left the joint accounts open (sorting this out is a priority to her but doesn't seem to be for him, however we have plans to fix this). This just leaves the joint Mortgage and her husbands business (he contracts) for which she is a director.

All in all we are pretty concerned about husbands ability to manage his finances, despite him supposedly earning the same as my friend. We also know the old family home costs a little more to run than my friends new place and she will have to budget well to avoid problems, we anticipate that husband will run into problems... but the will probably get bailed out by Dad (but not if by juggling things he thinks he will get a better settlement)

Can anybody answer any of the following questions or give any other advice:

The solicitor said that if she wasn't living in the house then not paying the mortgage wasn't such a big deal as if the house did get reposessed it would just get sold and she would get her equity (all be it a little less than best market value) sooner than if she waited for the equity to be shared some other way. I think it is likely but not certain that my friend will eventually decide to divorce her husband. Does anybody know what happens if he runs up debts between now and whenever that happens? If she filed for divorce tomorrow is all financial settlement based on what was in their accounts etc at that particular time, or if husband ran up depts between filing for divorce and the whole thing been finished would this effect things?.... in other words does it make more sense to file for divorce now to protect her assets???

Secondly, the business is a limited company. But we are unsure of the financial position. The money in the business account is not enough to pay the current tax bill, but we think this is largly down to the fact that husband is owed money by the company he works for and is C**** at chasing them. Is my friend at any risk by keeping her name on the business until divorce proceedings start?