Undeclared money

cloud_dog

Aren't a lot of people missing the point.

Assuming the OP has been open with the situation......... The money is an inheritance from his farther to his son. Whilst I am not a legal expert surely there is reason here to argue that the money was not part of the matrimonial earnings (etc) and therefore this money should be exempt from being included in the sum of the assets when deciding on the division?

And what does it say about you as a man that you could cheat someone else out of what they are due? What does your own wife say?

Atush...... shame on you.

grey_gym_sock

cloud_dog wrote: »

The money is an inheritance from his farther to his son. Whilst I am not a legal expert surely there is reason here to argue that the money was not part of the matrimonial earnings (etc) and therefore this money should be exempt from being included in the sum of the assets when deciding on the division?

it's not that black-and-white. the court does look at where the money came from, who has contributed what during the marriage (both financially and in other ways), etc. so it may be relevant where the money came from. but they also try to make a fair division given the overall circumstances. and there is no such thing as money belonging to 1 of the couple but definitively outside the "matrimonial earnings" (and that isn't a term they use).

Glen_Clark

cloud_dog wrote: »

Aren't a lot of people missing the point.

Assuming the OP has been open with the situation......... The money is an inheritance from his farther to his son. .

I think its you who is missing the point
From the marriage vows
'all my wordly goods I thee endow'
seems clear enough to me.

cloud_dog

Glen_Clark wrote: »

I think its you who is missing the point
From the marriage vows
'all my wordly goods I thee endow'
seems clear enough to me.

Not sure they use those word s in a civil ceremony but, we digress.

But the money was his fathers and has, in effect, been gifted to him. I wouldn't raise this as a consideration had the monies be obtained by, for example, a similar amount on a lottery win.

Surely this particular element should be treated differently. You also need to consider what the originator of the 'gift' (in essence) would have wanted for the money. If they had wanted it to be gifted to the pair they would have stipulated this in the will.

I have no issue with the other party obtaining full and fair allocation of their entitlement. Whether this element should be included is (as opinions4u says) probably down to the lawyers. For my part I think its sad that an inheritance, after the separation, should be included in the calculations. (All the usual caveats apply regarding what we do / do not know from the OP).

innovate

Whether somebody inherits money or earns it or wins it makes no difference to the fact that the money is in their possession. Whether they'd need to split it with their spouse in the case of a divorce is a different matter, as grey gym sock has already outlined.

grey_gym_sock

i think ignoring inherited money completely would give unfair results.

expenses go up when there are 2 households to maintain, instead of 1. if you ignored an inheritance, 1 party might struggle to get by, while the other was financially comfortable. that could be unfair.

also, courts will put any children first. if the primary carer is struggling financially, that can affect the children. if the other parent is struggling, that can also affect their contact with the children.

if somebody has inherited a really large amount, the courts will probably let them keep the bulk of it. but they will have to use some of it to maintain something like the standard of living that their former spouse has become used to during the marriage.

Dribley

frank_burns wrote: »

A friend of mine is separated from his wife and has been left 20K by his late father. He wants to take the 20K out of his bank so his wife wont be entitled to it. Where can he put the money without declaring it? Especially if she wants a divorce soon.

Tell him to blow it on a nice holiday, or high class prostitutes:D That'll put a smile on his face, but maybe not his ex :rotfl:

GeorgeHowell

Draw it out as cash and go on a gambling spree with it ... then lose the lot.

A good tip would be Shoebox in the 3.30.

cloud_dog

innovate wrote: »

Whether somebody inherits money or earns it or wins it makes no difference to the fact that the money is in their possession. Whether they'd need to split it with their spouse in the case of a divorce is a different matter, as grey gym sock has already outlined.

Not sure if we're saying the same thing but I agree.

I suppose I am merely voicing the opinion that certain elements can be considered differently to the whole.

cloud_dog

grey_gym_sock wrote: »

...but they will have to use some of it to maintain something like the standard of living that their former spouse has become used to during the marriage.

Quite possibly. The previous standard of living would not have included the recent inheritance so is a mute point. Whether the OP would need to use some / all of the inheritance to supplement the separated financial arrangements is another matter.

I'm not advocating 'depriving' of the inheritance merely my opinion that other factors should be considered in addition to the usual when separating people and finances.