Selling Investment Property to Father ahead of Divorce.

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groovy_chick said:

elsien said:

That's what you signed up to when you got married. Learn to live with it. 

Exactly this /\
When we get married we stand there and say "all I have, I give to you" .... people seem to conveniently forget that all too easily when the party is over!

woa....hang on there.  i don't remember promising my husband that i give him all me assets   

i can't remember what we said, but i am sure we made up the words ourselves and if we did, it would have been very brief, like, 'yes, i agree to marry you'.

Mojisola

groovy_chick said:

When we get married we stand there and say "all I have, I give to you" .... people seem to conveniently forget that all too easily when the party is over!

To be fair, not everyone says this in their wedding ceremony.

In an RO wedding there are only two things necessary (although the wording can be varied) -

"I declare that I know of no legal reason why I ... may not be joined in marriage to ..." and

"I..., take you..., to be my wedded wife (or husband)"

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Mojisola said:

groovy_chick said:

When we get married we stand there and say "all I have, I give to you" .... people seem to conveniently forget that all too easily when the party is over!

To be fair, not everyone says this in their wedding ceremony.

In an RO wedding there are only two things necessary (although the wording can be varied) -

"I declare that I know of no legal reason why I ... may not be joined in marriage to ..." and

"I..., take you..., to be my wedded wife (or husband)"

yeah, this rings a bell.  i think these were the only two sentences that we said.  we wanted to keep it to the minimum and so we only said what was required.  i certainly remember saying 'yes i agree to marry you', but little else as 'i agree to marry you' was obviously needed.

i don't actually remember saying i know of no legal reason why i can't marry but it does sound like the sort of sentence that you would have to say.

Savvy_Sue

Also it doesn't always end up with a 50/50 split. But assuming that as a starting point would be wise. 

As for gifting and retrieving - no. Just no. 

Charlie1985

Thanks everyone for your response. So looks like it’s best to agree a financial settlement rather than drag it out through the courts. My solicitor advised if you have any savings then ‘enjoy yourself’ more than usual. Inadvertently implying reduce the savings pot. What things can some savings be spent out without the court being able to reverse transactions?

Charlie1985

Also is it advised to pay off any of my personal debts (loans, credit cards etc) before divorce proceedings start?

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Charlie1985 said:

Thanks everyone for your response. So looks like it’s best to agree a financial settlement rather than drag it out through the courts. My solicitor advised if you have any savings then ‘enjoy yourself’ more than usual. Inadvertently implying reduce the savings pot. What things can some savings be spent out without the court being able to reverse transactions?

my friend used up his savings as he didn't want his wife to have half of it.  he bought himself an expensive car and went on expensive holidays around the globe.  his wife's solicitors got the court to instruct him to stop using his savings until the divorce was completed, which was not even imminent.

he ended up acrruing debt on his credit card as he still wanted to go on holiday and could no longer get access to his savings account.  i think he got completely shafted in the divorce.  he lost the house as the judge awarded the whole house to his wife in exchange for no access to his pension.  and he was able to keep his existing home, where he owns half.  his wife had asked for that as well and he was worried that he would also lose that and would be homeless but the court did not award her this.

the divorce system makes it very difficult to spend the joint assets as they will take it into account.  i am surprised your solicitor told you to spend the money, but it may be that you can do so until the other side get a court order to tell you to stop.

74jax

Charlie1985 said:

Thanks everyone for your response. So looks like it’s best to agree a financial settlement rather than drag it out through the courts. My solicitor advised if you have any savings then ‘enjoy yourself’ more than usual. Inadvertently implying reduce the savings pot. What things can some savings be spent out without the court being able to reverse transactions?

I'd say a holiday but you can't go anywhere, so your son gets the benefit. Make financial provisions for your son and university perhaps.
Pay off any debts you both have so when you split your son isn't financially affected by either of you having to pay debt rather than keep a house going. 
Set up power of attorneys, and pre paid funeral plans for you both so your son won't have to thing about it when the time comes. 
I'd keep some though so you both have a reasonable start with your son when you separate.
Does your wife have any suggestions? Do you discuss these things as she may have ideas you and I can't think of. 

Aranyani

Charlie1985 said:

Thanks everyone for your response. So looks like it’s best to agree a financial settlement rather than drag it out through the courts. My solicitor advised if you have any savings then ‘enjoy yourself’ more than usual. Inadvertently implying reduce the savings pot. What things can some savings be spent out without the court being able to reverse transactions?

Isn’t this just cutting your nose off to spite your face?  

Is it so important to you to hurt your wife?