Money After Divorce?

GemBlueTopaz1984

Hi,

I am asking this on behalf of my mother. She got divorced from her husband 18 months ago, during the splitting of assets my mother questioned the fact that he had alot of shares in the company he worked for, he produced papers to the court from his company to say that these shares were worthless (I don't think that was a lie at the time) so they weren't counted for the divorce, now 18 months later and he is working for a different company, the company he has the shares with has been bought out and they have apparently offered him over 50p a share of which he has 27,000 shares, where does my mother stand on this, what is the easiest way of going about to sort it out, I know he won't be willing to just hand over half if he isn't forced to, my mother can't afford a solicitor as the divorce solicitor resulted in her being a few thousand in debt that she is still struggling to pay back and she is scared that she will get into more debt getting what is rightfully half hers. Also how can she get proof, it is his mother that has told her about this so how does she prove its true?

thanks

floss2

Does she know the name of the company? If so, just Google them....

GemBlueTopaz1984

Hi,

I have tried googling the company that he used to work for but just their website and news articles from 2005 come up, I don't think we know who is buying them out. Are you allowed to write to these companies asking for this type of information? Also like I said this information came from his mother so we aren't clear on the details as the compnay he worked for is a world wide company I think head office is south africa or something but the have a uk division so I'm not 100% on what exactly has been bought out.

PintAndAPie

If the financial settlement has already been agreed in court then your mother will have no claim to the value of these shares. The court has decided what rightfully belongs to each partner and that the end of it. The shares were awarded to the husband, from your account there was no dishonesty on his part so the decision of the court will be final and the shares are no longer half hers.

Fire_Fox

This money is NOT rightfully half hers unless your father lied about the value of the shares at the time of the divorce.

GemBlueTopaz1984

Hi,
Thanks for the help guys, well that answers that question. I told her at the time that she should ask for half the shares even though they were "worthless" but they obviously didn't think it would matter. I just feel so bad for her, her solicitor convinced her they had got a good deal but as soon as she told me what it was I know she had been shafted, He got to keep all their saving, cashed in the endownments, his substantial 90k+ pensions and she gets what ever the equity was in the house which at the time would have been 80k but now 2 1/2 years later with the house still not sold even though they have dropped the price 40k and it looking likely they will have to drop the price again so she may not get much at all, he can walk straight into another mortgage with his 100k / year wage and his new wifes wage and she is 10k in debt after the divorce costs as she didn't come out of the divorce with any cash to pay the solicitor and trying for 2 years to pay all the household bills on her 8k / year and is now living with me at age 50 so she can try and pay the 10k off. I just thought that if she was entitled to this money it would give her a boost and help her alot with the debt. I'm glad I asked here before she went off to a solicitor to get herself into more debt trying to fight for money she wasn't entitled to.

thanks

Fire_Fox

It's not the solicitors nor your father's fault there is a recession and property has lost value. If the split wasn't 50/ 50 at the time as regards pensions, savings and property then you have a better case against the solicitor for that IMO. Can your mother take in a lodger or rent the entire house out until the market picks up?

GemBlueTopaz1984

Fire_Fox wrote: »

It's not the solicitors nor your father's fault there is a recession and property has lost value. If the split wasn't 50/ 50 at the time as regards pensions, savings and property then you have a better case against the solicitor for that IMO. Can your mother take in a lodger or rent the entire house out until the market picks up?

Hi, She does not live in the house as of April, she moved in with me and he moved back in to the family home with his new wife as my mum couldn't keep up any longer with the bills for it as its a big house and my sister 17 and other sister 23 and her daughter 5 also live there. I thought the split should have been straight down the line but his solicitor put forward the agreement and mums solicitor said it was a good deal, I told her at the time that essentially after 25 years together she is left with an unknown amount of money, house had already been on the market with little interest a year before they divorced, that she will receive at an unknown time.

Padstow

[FONT=Arial, Helvetica, sans-serif]You need to read the order stamped by the court. In cases where there is a wide discrepancy in earnings, sometimes it states that one party can make no further claim. If it states neither can, that's a clean break.

If your mother was awarded the FMH in the court order, the one bearing the court stamp, was there an order for it to be sold? In which case it's normal to receive maintenance until it is.

It's pointless for a judge to award her the FMH if outgoings were say 10k when her income was 8k.
The CO needs to be read carefully, if any of it is not clear, take it to a solicitor for a read through.
[/FONT]

NewKittenHelp

GemBlueTopaz1984 wrote: »

Hi, She does not live in the house as of April, she moved in with me and he moved back in to the family home with his new wife as my mum couldn't keep up any longer with the bills for it as its a big house and my sister 17 and other sister 23 and her daughter 5 also live there. I thought the split should have been straight down the line but his solicitor put forward the agreement and mums solicitor said it was a good deal, I told her at the time that essentially after 25 years together she is left with an unknown amount of money, house had already been on the market with little interest a year before they divorced, that she will receive at an unknown time.

I'm confused - so your mother lived in the house, post-divorce, without having to pay the mortgage, but now your step-father now lives in the house with his wife and his two children and grandchild? Is that correct?

GemBlueTopaz1984

NewKittenHelp wrote: »

I'm confused - so your mother lived in the house, post-divorce, without having to pay the mortgage, but now your step-father now lives in the house with his wife and his two children and grandchild? Is that correct?

My mother lived in the house with my sisters and niece, she moved in with me in april and he moved in with his wife, the court classed paying the mortgage as his support for my youngest sister and her maintanence, but she could afford to pay all the other bills and food for them all so ontop of the divorce debt she started building up other debt just trying to keep ontop of all the payments and pay the bills, it got to a point in february that she confessed to me she was about to miss alot of payments for the debt so I did what I could and in april she moved in with me, part of it was the money but also she wasn't getting along with my youngest sister who has a terrible attitude not helped by the fact that what ever rules my mother told her she had to abide by to live under her roof, her dad would say well he was paying for the roof and that she didn't have to do some of the things my mother told her to do. I.e youngest sister started working full time, mum asked for £80/ month keep, her dad said she didn't have to pay anything cos he paid the mortgage, not considering the fact her and all her mates eat her out of house and home, turn the pool heating on and leave it on for days costing a fortune, never turn lights off, my mum ended up £800 in debt with gas and electric, she just couldn't do it anymore.