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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33811
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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My daughter and husband have just agreed to separate (no kids),

Resolved Question:

My daughter and husband have just agreed to separate (no kids), how can she protect her assets she took into the marriage and an inheritance she will soon receive?
Submitted: 3 years ago.
Category: Family Law
Expert:  Clare replied 3 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How long have they lived together and what assets and debts do they each have separately or together
Clare
Customer: replied 3 years ago.

They have been married over ten years and the husband has just left her. They have jointly owned house with poss £100k equity after mortgage. They both have individual pension pots and my daughter took her own house, currently rented out, worth £200k into the marriage it is still in her name.


There is $500k locked into USA green card EB5 scheme too, this money was raised by remortgaging the main house. Also my daughter will receive an inheritance next month from New Zealand worth about £95k. There are some additional savings in ISA and BS savings account to offset main house mortgage plus she has £30k in premium bonds.


The key issues are can she protect her house she rents and her personal savings and inheritance?

Expert:  Clare replied 3 years ago.
Hi
What other assets does her husband have?
How much do they each earn?
Clare
Customer: replied 3 years ago.

Her husband may have some other savings and ISA but nothing significant that I am aware of; he did not bring any substantial assets into the marriage.


She has always earned more than him, I think the split is £50-60k for him and £80-90k for her.

Expert:  Clare replied 3 years ago.
Hi
Has he actually said that he will be attempting to make a claim on these assets or is there just a concern that he might?
Clare
Customer: replied 3 years ago.

Just a concern at the moment so we want to be prepared if he does try to claim 50% of my daughters assets. Splitting main house and joint savings is not a problem.

Expert:  Clare replied 3 years ago.
Hi
A ten year relationship means that whilst the starting point for division of the assets is 50/50 - the family court will still take account of what assets each party brought to the relationship.
The court does look at Inherited assets differently especially when they are received after separation so it is highly unlikely that the Court will take this into account
The house that she owned prior to the marriage is of more significance - however on balance the most likely impact her property will have is to reduce the share of the joint assets that your daughter receives - say 60/40 in his favour
Frankly there is nothing your daughter can do at this point to protect the situation - but she needs to start negotiations with her ex using Family mediation (www.familymediationhelpline.co.uk)
Please ask if you need further details
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33811
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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