Buying property for my niece

Fire_Fox

difficultguy wrote: »

I think the solicitor will laugh if I ask him about the possible consequencesof divorce before marriage.:)

Do you? Oh.

richyuk

I think, instead of getting things too
complicated for me, why don’t youtell me any other easy way to safeguard my
money, which I am most likely goingto invest on the property.

I think you need to decide what you mean by safeguarding your money.

If it is from inflation then there are plenty of areas you can invest in and I advise you see a suitably qualified IFA.

If it is from you’re soon to be wife/husband in case of divorce or separation then gifting the money to some to buy a property is the complete wrong way to do it. This will not safe guard your money as you have legally gifted it away.What would happen if your niece got married then half of said property could be owned by her husband and what would happen if god forbids something happened to them then the property would go into their estate to be distributed to their beneficiaries.

The only way I know of be able to protect your assets on marriage is a Prenuptial Agreement which may or may not stand up in UK law.

You have already had the best advice see a solicitor

difficultguy

richyuk wrote: »

The only way I know of be able to protect your assets on marriage is a Prenuptial Agreement which may or may not stand up in UK law.

Its a good idea..... Thanks mate .... is there any other suggestion?

Annisele

If your solicitor laughs at you - which I very much doubt - find another solicitor.

I suspect the cost of seeing a solicitor will be substantially less than the cost of the wedding!

difficultguy

Annisele wrote: »

I suspect the cost of seeing a solicitor will be substantially less than the cost of the wedding!

its true but I just feel bit of embarssing to talk (face to face) about my possible divorce before my marriage.

Annisele

I don't think you understand what solicitors do.

Client says "I want to pay you for some legal advice". Solicitor says "I will take your money and advise you". If solicitor said "haha client, you're an idiot" - he wouldn't stay in business all that long!

A lot of solicitors' work is about preparing for bad stuff in case it happens; not everything they do is litigation.

wxy

I cannot imagine a solicitor laughing at you for asking such a question. I think they deal with that all the time - you can't be blamed for being cautious.

When I bought my house before marriage, I spoke to my solicitor about how to protect my interest (and more importantly, my parent's interest as they helped me out with some money) and they happily gave me some advice and put me through to someone who deals with marriage law.

I would echo that you should seek legal advice.

Fire_Fox

difficultguy wrote: »

its true but I just feel bit of embarssing to talk (face to face) about my possible divorce before my marriage.

So instead of being a bit embarrassed in front of a stranger you'd rather give all your money away with no way of getting it back again? Are you trolling?

Wyndham

Surely this is a troll? Won't see a solicitor- deary me!

BurnleyBob

OP wants to invest £50K in a property before getting married in case marriage fails and other half gets her mitts on half of the equity in a divorce settlement.

Easiest way would be to transfer £50K before walking down the aisle to the mother or niece for them to buy it in their name. That would require absolute trust in them. Presuming the OP does, other pitfalls would include their circumstances changing. For example, the mother dies, OP gets the property from the will but if still married then in the same boat s/he's trying not to be in.

A far neater solution would entail creating an offshore company s/he secretly controls to purchase a property. Fronts for those are mostly based in the Cayman Islands as this article alludes to. http://www.dailymail.co.uk/news/article-2066702/One-Hyde-Park-Only-9-62-Londons-exclusive-flats-pay-council-tax.html