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Ask Clare Your Own Question
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34492
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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Most of my assets are in my second wife's name.Are they

Customer Question

Most of my assets are in my second wife's name.
Are they protected from my first wife if she seeks capitalisation as I approach retirement?
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 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.
Did all the money for those assets come from you?
Clare
Customer: replied 2 years ago.
Hi
No but about 40% has for about 4 years or so.
Regards
Expert:  Clare replied 2 years ago.
Hi
is there any evidence that this was a deliberate step on your part (an dI mean Evidence of the intent - not the intent itself!)
Clare
Customer: replied 2 years ago.
Not sure whatnot mean but at the time I paid higher rate taxon the interest when she did not so it was driven by that .
Expert:  Clare replied 2 years ago.
Hi
That is fine - and exactly what I needed to know.
The assets will be safe - but of course it may mean that the Spouse maintenance remains in place.
Please ask if you need further details
Clare
Customer: replied 2 years ago.
Would the maintenance be adjusted to reflect my reduced income in retirement and could it be supplemented by my wife's assets?
Expert:  Clare replied 2 years ago.
Hi
It cannot be supplemented by your wife's assets - but if the Court feels that her assets are in fact equally yours then they could refuse to reduce the maintenance on the basis that income from those assets should be available - although that is NOT a likely outcome
Clare