Property into trust to a minor

Treevo

gizmo111 wrote: »

I'm not talking about hiding assets - I'm talking about spending money in his name or in joint names that he has legal access to.
By the time the court gets to divvying them up, if they are gone they are gone.
So if he did that on what grounds to you think he would go to prison?
If he hides assets when it comes to disclosure then that is a different thing

Then you're asking me to answer for something that I did not write. You don't have any excuse either because I had quoted the post I was writing about, one that repeatedly mentioned hiding assets. If you want to get a rise out of me, you'll have to try a little bit harder than that.:rotfl:

Gavin83

Is it not your wifes property too?

gizmo111

Gavin83 wrote: »

Is it not your wifes property too?

No he said in first post that the house is in his name.

Treevo

gizmo111 wrote: »

No he said in first post that the house is in his name.

But as he's married it's marital property. Which makes it hers too.

geoffky

CLASSIC.....Pack your toothbrush...

gizmo111

Treevo wrote: »

But as he's married it's marital property. Which makes it hers too.

But there is nothing stopping him selling it and spending the proceeds, or remortgaging and spending the proceeds. Or gutting it so there is no saleable asset. At present it is in his name so he can do what he wants with it.

Treevo

gizmo111 wrote: »

But there is nothing stopping him selling it and spending the proceeds, or remortgaging and spending the proceeds. Or gutting it so there is no saleable asset. At present it is in his name so he can do what he wants with it.

Nothing that the almost certainty of being forced to repay it when the financial settlement is made.;)

gizmo111

Treevo wrote: »

Nothing that the almost certainty of being forced to repay it when the financial settlement is made.;)

I have no idea where you get this idea from, married people decieve each other financially, and don't have to repay the other. Some earn more and don't share it, some run up debts and dont tell the other one, some spend joint savings without the others permission. Some gamble, drink and lie.
There is no law stating that all assets must be shared equally throughout a marriage.
When the court makes a decision on what is left at the end of that marriage and how it is shared then that is a different matter, but if there is nothing left then it can't be shared.

It doesn't even seem as if this couple are seperated yet.

chelski1000

Ok, lets say I place the property in trust for my young children which is something I would like to do for their future. Which she would not want me to do, so I would not get her permission.

The property is solely in my name, all paid for before marriage.

Lets say we get a divorce in 5/6 years time. What would the courts do? cancel the trust and place it in the pool for settlement. Or leave as it is, as it is my wishes to leave for them?

Thanks

gizmo111

How old are the children?
How long have you been married?
Who would have care of teh children?