Anti money laundering precautions for ISA savings

anselld

Lerennie said:

Thank you for your comments.  We have decided to become civil partners, I didn't realise mixed sex couples now could, (I must've been under a rock the last five years!) There will then be legal recognition of our relationship without having to get married (both divorced so personal choice not to remarry).  Property will be in my name with a pre-nup stating only joint assets following the partnership will be counted should we dissolve the partnership. He is intending to purchase a property overseas in his name only.  Is there any issues in doing properties in your own names in a civil partnership?

Pre-nup has no legal standing in UK law.  The starting point is a 50:50 split of all assets.  A Court may take pre-nup into account as a starting point of intent, particularly in a short marriage/partnership but it is not legally binding. 

user1977

Is your mortgage lender happy with that arrangement?

We can't advise on the overseas rules without even knowing which country you're talking about, but within the UK if your spouse/civil partner owns property then it may for certain purposes (e.g. stamp duty) be treated as also being your property.

Yorkie1

If you have wills, the civil partnership will invalidate them, so you will need to remake them. 

Lerennie

user1977 said:

Is your mortgage lender happy with that arrangement?

We can't advise on the overseas rules without even knowing which country you're talking about, but within the UK if your spouse/civil partner owns property then it may for certain purposes (e.g. stamp duty) be treated as also being your property.

Thank you, I am British but the property is in Ireland.  There will be no mortgage, cash buyer as it's a renovation project.

Lerennie

Yorkie1 said:

If you have wills, the civil partnership will invalidate them, so you will need to remake them. 

Thank you, I do have a will so will have it re-written.  My partner doesn't so I will at least become relevant in the future rather than all going to siblings.  And we will be able to have a claim on each others pensions.

monkey-fingers

anselld said:

Lerennie said:

Thank you for your comments.  We have decided to become civil partners, I didn't realise mixed sex couples now could, (I must've been under a rock the last five years!) There will then be legal recognition of our relationship without having to get married (both divorced so personal choice not to remarry).  Property will be in my name with a pre-nup stating only joint assets following the partnership will be counted should we dissolve the partnership. He is intending to purchase a property overseas in his name only.  Is there any issues in doing properties in your own names in a civil partnership?

Pre-nup has no legal standing in UK law.  The starting point is a 50:50 split of all assets.  A Court may take pre-nup into account as a starting point of intent, particularly in a short marriage/partnership but it is not legally binding. 

Not true.
https://www.graysons.co.uk/advice/prenups-how-far-are-they-legally-binding/|

Under most circumstances, they are legally binding. In addition, there's discussion about making that a bit more concrete than simply the Supreme Court's ruling.

anselld

monkey-fingers said:

anselld said:

Lerennie said:

Thank you for your comments.  We have decided to become civil partners, I didn't realise mixed sex couples now could, (I must've been under a rock the last five years!) There will then be legal recognition of our relationship without having to get married (both divorced so personal choice not to remarry).  Property will be in my name with a pre-nup stating only joint assets following the partnership will be counted should we dissolve the partnership. He is intending to purchase a property overseas in his name only.  Is there any issues in doing properties in your own names in a civil partnership?

Pre-nup has no legal standing in UK law.  The starting point is a 50:50 split of all assets.  A Court may take pre-nup into account as a starting point of intent, particularly in a short marriage/partnership but it is not legally binding. 

Not true.
https://www.graysons.co.uk/advice/prenups-how-far-are-they-legally-binding/|

Under most circumstances, they are legally binding. In addition, there's discussion about making that a bit more concrete than simply the Supreme Court's ruling.

 As stated in your link "at present, prenuptial and postnuptial agreements are not technically legally binding".   Increasing weight given if properly drafted but not legally binding and that doesnt seem to have changed much since 2014.