Father marrying partner - help needed on inheritance.

Person_one

Adam79 wrote: »

I agree totally with this, and I'm certainly not against him getting re-married - and as you've stated there are more than one advantages of getting married to someone significantly younger to him! I just hope that, if in the future they do decide to divorce for whatever reason, that he doesn't have the trauma of going through the courts trying to keep what is rightfully his.

Ah but that's the thing. Marriage means it won't just be his, everything they both have will be theirs. Shared. That's kind of the point.

If he wants to maintain absolute rights over everything he has, he shouldn't be getting married.

meritaten

well, in the event of a separation or divorce, then the will may or may not be valid - it depends on how its worded.

Tiddlywinks

Adam79 wrote: »

I agree totally with this, and I'm certainly not against him getting re-married - and as you've stated there are more than one advantages of getting married to someone significantly younger to him! I just hope that, if in the future they do decide to divorce for whatever reason, that he doesn't have the trauma of going through the courts trying to keep what is rightfully his.

He is an adult in full possession of his faculties - why not leave his business to him.

He can take any advice he wants and needs from a solicitor who will give unbiased opinion and direction.

I think a 65 yo man who has wooed, won and is about to marry a 35 yo woman is probably more than able to plan his own life.

Adam79

Person_one wrote: »

Ah but that's the thing. Marriage means it won't just be his, everything they both have will be theirs. Shared. That's kind of the point.

If he wants to maintain absolute rights over everything he has, he shouldn't be getting married.

Even if he has built up significant assets over years and years (including a little financial help from his son ) and she doesn't contribute to the bills let alone the mortgage? Just to clarify, I do think she is doing it because she loves my Dad, and not for the money, but unfortunately you can't take anything for granted.

Person_one

Adam79 wrote: »

Even if he has built up significant assets over years and years (including a little financial help from his son ) and she doesn't contribute to the bills let alone the mortgage?

Yes.

Unless they divorce within a couple of year (in which case the courts would consider it a 'short' marriage) then that's exactly the deal.

Its not compulsory, if people don't like the T&Cs they don't have to sign the contract!

meritaten

Adam79 wrote: »

Even if he has built up significant assets over years and years (including a little financial help from his son ) and she doesn't contribute to the bills let alone the mortgage? Just to clarify, I do think she is doing it because she loves my Dad, and not for the money, but unfortunately you can't take anything for granted.

so ask for the financial help back - would that satisfy you?
I think this is the heart of this matter - hasn't he repaid you? have you asked for your financial 'help' back?
it isn't about his ladylove is it?

Adam79

Tiddlywinks wrote: »

He is an adult in full possession of his faculties - why not leave his business to him.

He can take any advice he wants and needs from a solicitor who will give unbiased opinion and direction.

I think a 65 yo man who has wooed, won and is about to marry a 35 yo woman is probably more than able to plan his own life.

Haha, very eloquently put! I agree, however I haven't really told the full story, which I apologise.

My parents divorced about 20 years ago, and my mother died 10 years ago. I received inheritance from my Mum, which I then loaned to my Dad to build a second home. I gave him this money so he could use the profit made on selling the second home to pay off the mortgage on his current home. Currently the second home due to be sold and I will get my money back, and no more.

I know that this thread might seem that I just care about the inheritance money and nothing else, but far from it. In fact the whole reason that I gave him my money in the first place was so that he could live the rest of his life mortgage free.

Now he will get legal advice, but the only reason that I posted in this forum was to "test the water" to see what the previsions he could make (if any) in the event of a divorce.

Thanks for the advice so far!

podperson

I think you're maybe looking at two completely different issues - what would happen to his estate when he died is one thing, and yes he is right to make a will to cover that, but what would happen to it if he divorced isn't going to be the same thing and sadly isn't as 'coverable'. Pre-nups are still not considered legally binding in the UK. While this doesn't mean he couldn't still get one if he wanted, in the case of the marriage breaking down a court would have the right to overturn it if they wished. Basically a court would look at all the assets in the marriage, they would take into account what each party came into the marriage with, what they have both contributed within it, how long the marriage has lasted for etc and on the basis of those things make a judgement. If it was only a 'short' marriage then she has much less chance of being awarded any settlement, but there is no guarantee on that.

If this isn't acceptable to him then perhaps he may want to rethink for the time being.

duchy

Adam79 wrote: »

Haha, very eloquently put! I agree, however I haven't really told the full story, which I apologise.

My parents divorced about 20 years ago, and my mother died 10 years ago. I received inheritance from my Mum, which I then loaned to my Dad to build a second home. I gave him this money so he could use the profit made on selling the second home to pay off the mortgage on his current home. Currently the second home due to be sold and I will get my money back, and no more.

I know that this thread might seem that I just care about the inheritance money and nothing else, but far from it. In fact the whole reason that I gave him my money in the first place was so that he could live the rest of his life mortgage free.

Now he will get legal advice, but the only reason that I posted in this forum was to "test the water" to see what the previsions he could make (if any) in the event of a divorce.

Thanks for the advice so far!

Has your Dad actually asked you for advice ?
Quite honestly he seems to have known this woman a long time -it's hardly like he's rushing into anything and he's not "old".

Adam79

duchy wrote: »

Has your Dad actually asked you for advice ?
Quite honestly he seems to have known this woman a long time -it's hardly like he's rushing into anything and he's not "old".

No he hasn't. But as mentioned earlier, he has just got back with her after splitting up for two months which makes me wonder what would happen if they split up after a few years of marriage.