friend getting married - what happens if the worse were to occur?

Mojisola

greenglide wrote: »

Call me old fashioned but the idea of "mine" and "yours" and splitting of bills in a marriage seems very odd.

We have always had a joint account and all income goes into that and all bills paid from it.

The word is changing and often not for the better.

We work the same way as you - whatever money is earned is 'ours', not 'his' and 'hers'.

Other couples arrange things differently - and it's not just a new thing. I've got older relatives who kept their own money separate.

hels234

We like having separate accounts, it works for us, but we have a joint bills (house, insurance savings etc mostly fixed stuff) account, joint living account (food, going out, hols) and then our own accounts which we buy gifts for each other at birthdays etc. We just like having our own little bits of money (the bulk goes into the joint accounts) and it means I don't know what the hubby has bought me for my birthday! Once we'd decided that we would still have our own accounts as well as the joint ones, working on a % just seemed the fairest/easiest way given the pay differences.

smjxm09

I have been married 3 times. The first time I paid the lions share of the deposit and the house went up in value by the time she wanted a divorce. The wife wanted half despite putting little in.

The second time was during a housing slump where the house lost a great deal of value. Wife number 2 was not willing to share the loss and wanted all of her money back. No doubt if it had gone up she would have wanted her cut of the profit.

Now on wife number 3 but the house is in my name and she didn't put any money towards it. I also pay all of the bills.

bowlhead99

Do you have a formal strategy for 4, 5, and 6?

Malthusian

smjxm09 wrote: »

Now on wife number 3 but the house is in my name and she didn't put any money towards it. I also pay all of the bills.

You will still be splitting it 50/50 (at least as a starting point) unless it's a short marriage (or you never divorce).

As the great sage George W Bush said, fool me once, shame on you, fool me three times, I really should have learned how divorce works by now.

badger09

bowlhead99 wrote: »

Do you have a formal strategy for 4, 5, and 6?

:rotfl::rotfl::rotfl::rotfl:

Are you looking for some tips bowlhead99?:p

kidmugsy

smjxm09 wrote: »

I have been married 3 times. The first time I paid the lions share of the deposit and the house went up in value by the time she wanted a divorce. The wife wanted half despite putting little in.

The second time was during a housing slump where the house lost a great deal of value. Wife number 2 was not willing to share the loss and wanted all of her money back. No doubt if it had gone up she would have wanted her cut of the profit.

Now on wife number 3 but the house is in my name and she didn't put any money towards it. I also pay all of the bills.

Glutton for punishment.

Glen_Clark

An accountant friend helped a client to hide his money (in Jersey)
Client falls out with wife and tries to keep his money hidden.
She finds out - client and my accountant friend goes to jail - professionally and financially ruined.
A salutory lesson for anyone on here thinking of helping someone hide their assets