Protecting wealth in case of divorce

qwert_yuiop

Move to holland, where prenuptial agreements are compulsory?

Flugelhorn

when we got married we had two houses, OH's had 25k equity and mine 18k to put in the pot- so about 7k difference. Fast forward 30 years and the pot now consists of earned income (variable, sometimes one or other not working & looking after kids) , inheritances (small), pension lump sum (only one so far), few lucky investments (luck not judgement), house price inflation etc etc
Impossible to identify who put what in let alone what happened to the 7K.
yep fiancee should scarper while she can !

74jax

We have a pre nup, hubby wanted one and I wasn't bothered either way. Ours expires after 5 years, so he has 2 months left :rotfl:

If your friend has a great deal of money, hell have a financial advisor who he should speak to. Both will need legal advise and his partner shouldn't be forced to sign as she can claim she was made to sign and that throws a heap of questions in the pot.

I think it helped my husband feel more secure, no idea why, but he wanted it. Like I say, I didn't mind either way so signed. If I was against it then hubby would have been fine too - it's definitely one you both need to agree on.

Flugelhorn

74jax wrote: »

We have a pre nup, hubby wanted one and I wasn't bothered either way. Ours expires after 5 years, so he has 2 months left :rotfl:

If people are going to have prenup then putting a time limit on it is a good idea

74jax

Flugelhorn wrote: »

If people are going to have prenup then putting a time limit on it is a good idea

We didn't live together before marriage - I had a child and didn't think it was right (don't ask, no idea why). Hubby was apprehensive as he was bringing in approx. 500k+ and I was a single mum with zilch. He wanted to live together beforehand and so we had to compromise somewhere.

I said I wanted in the 5 Year time limit as after that time we should know we can tolerate each other. :rotfl: and here we are....... 2 months to go, so seems we can :T

Lrimas

Pre nubs are very common in other countries. When I married my ex when we're advised to get a pre nub even though we had very little wealth (it was the standard)

Considering how many marriages are failing it makes sense. "Till death do us apart" is a very long time.

The obvious answer in the UK is to not get married but that isn't always possible (if your partner insists on it (for religious reasons?) and it is a choice between getting married and breaking up)

FBaby

If my OH had insisted on a pre-nup, I would have suggested not getting married at all, at least not until he was prepared to commit fully. I just don't get the desire to be married if it isn't to accept that you are genuinely joining up for better and worse. Many things can happen during a marriage, it's not just financially you are risking to lose.

Pollycat

OP
Haven't you asked this before (June 2017)?
That thread is 5 pages long.
https://forums.moneysavingexpert.com/discussion/5669317

Didn't your friend like the answers you passed on at that time?

This was one of the first replies:

melanzana wrote: »

The best thing to do is pay for independent legal and financial advice. It will be the best money he (you) will ever invest. You're welcome.

Didn't your friend think this advice was a really good idea?

Aren't the 2 threads you've started in the last couple of days simply going over the same ground?

qwert_yuiop

FBaby wrote: »

If my OH had insisted on a pre-nup, I would have suggested not getting married at all, at least not until he was prepared to commit fully. I just don't get the desire to be married if it isn't to accept that you are genuinely joining up for better and worse. Many things can happen during a marriage, it's not just financially you are risking to lose.

Wealth can change a lot as time goes on. We all know people who lost all in the crash and haven’t recovered. Businesses fail. Careers go wrong. On the other hand, both can flourish unexpectedly. Some people win the lotto.
I’d say it’s the attitude to spending that can cause friction rather than the actual level of wealth in many cases.

System

My friend is getting married and is bringing in a lot more wealth then his fiance and so is worried in the unlikely event of a separation, that his wealth will not be protected.

Doomed before it starts...