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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34264
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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Hello. I am about to inherit a modest sum. I am also engaged

Resolved Question:

Hello. I am about to inherit a modest sum. I am also engaged to be married. Having been stung in the past financially by a previous partner, I would like to know how to protect this inheritance from being used by my fiancee. What rights does he have to my inheritance once we are married? The inheritance is likely to be paid to me before the wedding.
Submitted: 3 years ago.
Category: Family Law
Expert:  Clare replied 3 years ago.
Hi
Thank you for your question.
My name is XXXXX XXXXX I will do my best to help you but I need some further information first.
How modest is the amount involved and what other assets do you each have?
Clare
Customer: replied 3 years ago.

The sum is likely to be in the region of £20,000.


 


I also have c.£35,00 equity in a property which I rent out. I also have liability of credit card debts of around £9,000, £2,000 of which has been incurred by funding a joint vehicle which is registered in his name.


 


He has personal property only. No major assets, nor liabilities, except owing to months council tax on a previous rental property. He owns no property as he has worked most of his life as a contractor in several countries and been somewhat itinerant. He now has permanent employment and we are renting a property together.

Expert:  Clare replied 3 years ago.
Hi
Just to check - I assume that you are anxious about what would happen in the event of a divorce?
Clare
Customer: replied 3 years ago.

Yes.


 


Sorry for delay in replying...

Expert:  Clare replied 3 years ago.
Hi
Much depends on the length of the relationship
If you separate within a few years of marriage then your spouse will have little claim on your assets at all since the aim of the court will be to simply return you to your former financial positions as far as possible.
After those years have passed then the concept of a Matrimonial pot grows stronger - so that once yo have been married 20 years it is assumed that assets should be shared equally
However the Court does still try and not divide Inherited assets - unless there are insufficient other assets to allow both of you to move on
As a starting point you should always keep this money in a separate account in your own name - this will help keep it clear that this is a separate tranche of money.
I hope that this is of some assistance - please ask if you need further details
Clare
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