New ISA after Separtion

mb6960

Hello

I am after some advice, I have been separated from my partner for well over a year now. About 6 months ago - I opened an ISA in my name to help me save for those rainy days especially now that money is even tighter due to the separation etc.

My question is:

Can my ex-partner touch my ISA during the divorce even though I opened the account well after we separated and the money I put in it is from any spare cash from my salary??

I look forward to the responses and thank you in advance.

M

[Deleted User]

I'm not an expert, but I would think the answer is no and you can relax :beer: the savings have come from your salary alone so why would anybody else have be able to have a claim on them?

Best wishes

TBagpuss

Yes, there is a a potential claim. When finances are sorted out as part of a divorce, both of you have an obligation to provide full disclosure of your finances and all the assetd can potentially be taken into account.

However, the overriding aim is to then come up with a settlement which is fair to both of you, taking onto account all the circumstances. Whether it is fair to take into account savings you build up after the separation will depend on the bigger picture - for instance, if you were able to make the savings because (say) you had more disposable income than your spouse because you were living in the family home rent free / paying a small mortgage while they were having to pay a high rent thn it may be fair to take that into account.

mb6960

I pay for the mortgage that she lives in and pay my own rent in a separate place - do any money i put into the savings account is what i have spare at the end of the month(if any)

rpc

As partners, not married or in a civil partnership, what is yours is yours and what is theirs is theirs. Joint assets divided equitably. If you were married then in England, Wales or NI (but not Scotland) then that ISA would still be a marital assets and could be split between the two of you.


Are you paying the mortgage alone? Is it a joint mortgage? If it is a joint mortgage then you are contractually obliged to pay it (you are paying your debt, not her housing) but if she isn't contributing then you may wish to account for this in the settlement.