We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Divorce with no financial settlement implications

13»

Comments

  • GlasweJen
    GlasweJen Posts: 7,451 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Mental Health problems though, the ex could say that he didn't understand the process as he was not mentally capable of doing so at the time.
  • Kynthia wrote: »
    I know someone who was getting divorced without their ex being involved (apologies as I don't know the details or the exact legal terms). This meant she couldn't get a final settlement and her solicitor told her that potentially in the future he could come after a share of anything she gained after the divorce. It's hard to say how likely he'd be successful but it shows you that the the lottery post isn't wrong.

    No, I don't believe it is wrong either. But to be honest I don't even play the lottery and I am unlikely to achieve riches with mortgage payments of £1200.- per month for another 13 years or so. (and that is before the interest rates start rising !) On the other hand my ex is playing the lottery regularly and probably still gambles online. So if he strikes it rich I could always do the same. It works both ways. Or if he inherits from his mother.

    However, as I said above, if for some strange reason I did win a jackpot or came to millions of pounds through whatever lucky strike, I would not stay in this country anyway. I would move back home. There is no legal basis at home for someone to request money from someone else to whom they are not married. He would never see a penny (he wouldn't be able to afford a court case abroad anyway)

    So although somewhat a legal possibility (in this country anyway) I think the lottery win scenario is at best a remote possibility and therefore more hypothetical than a real risk factor.
  • Kynthia
    Kynthia Posts: 5,692 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    The lottery might have been the example used but the implications are that he could try for a share of the house once you've worked hard to get it out of negative equity. Up to you though.
    Don't listen to me, I'm no expert!
  • GlasweJen wrote: »
    Mental Health problems though, the ex could say that he didn't understand the process as he was not mentally capable of doing so at the time.

    He didn't bring that as a defense during the divorce proceedings.
    Probably because he hasn't had a clear diagnosis, sometime it's depression, sometimes he is bi-polar, sometimes it's something else. Seems to depend on the doctor. Not too sure to be honest.
    But I would argue if he is mentally capable of working in the job he is he is also mentally capable of understanding such a process.

    Not saying he wouldn't use it, but he couldn't claim complete mental inability
  • Kynthia wrote: »
    The lottery might have been the example used but the implications are that he could try for a share of the house once you've worked hard to get it out of negative equity. Up to you though.

    Agree, but unlike a lottery win it is something that was a joint debt at point of divorce which will eventually turn into a single asset on my side over time once the debts have been cleared. His name is no longer on the deeds, just on the mortgages.
    And the big question will be how a judge would look upon this.
    Obviously nobody knows.
    The debts won't be cleared for another 13 years or so.
    My plans were to pay the house off and then sign it over to the kids on a 50/50 ownership with a life long tenancy agreement for me if I decide to stay in the UK.
    If I decide to go back home as an alternative I wanted to sell the property , give some of the proceeds to the children as an early inheritance and then move back home with the rest and retire at home.
    Wouldn't like my ex to come out of the woodworks then of course.

    Will have to make an appointment with my solicitor I guess and see what she says.
  • Something to think about is the fact that the house situation is potentially muddly without a financial split so what about if anything happens to you?

    A financial order wouldn't just shore up your position it could also save your children extra worries and hassles if anything happens to you in the future.
  • Could you write down everything that has occurred and represent yourself in front of a judge for the settlement?


    As long as you keep to the facts of the situation you should be ok, at least you would get some closure on this.


    I'm sure I have read somewhere that the courts can advise you on what to do when representing yourself
  • Apparently neither one of us could just ask for a financial judgement from a court just like that, we would have to go to arbitration first. Apparently the law has changed to that effect. We could only take the matter to court if we couldn't reach an agreement through an arbitrator and that would be a laugh a minute with him (like NOT)
  • Something to think about is the fact that the house situation is potentially muddly without a financial split so what about if anything happens to you?

    The house and all financial liabilities would be settled from my estate (life insurance policies), anything left over should go to my next of kin which would be the kids. Also the house should go to them as my next of kin.

    Depending on their age at such a time I believe they would have to go and live with their dad and his girlfriend, but due to their age that would only be the case for another few years, I guess once they are legally adults they can choose where to live but the house should still go to them as sole beneficiaries / my next of kin.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245K Work, Benefits & Business
  • 600.6K Mortgages, Homes & Bills
  • 177.4K Life & Family
  • 258.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.