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Harris
Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 2739
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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My husband was sacked from his job as a Chartered Accountant

Resolved Question:

My husband was sacked from his job as a Chartered Accountant for misleading accounting back in 2009. His case along with other Directors was eventually heard by the FSA and he was personally fined £200,000, which obviously we as a family had to find. He was also barred from being a Chartered Accountant for 6 years.
Now the case is going to criminal court in London in May. He tells me that the costs and fine this time would be covered by the original company insurance. Costs were last time, but not the fine so I need to know where I stand personally. My father died recently and I have inherited some money which is in my name. I cannot bear the thought that he could lose my dads hard earned savings for me. I presume that as we are married my money would be seen as his money is this the case?
Submitted: 1 year ago.
Category: Family Law
Expert:  Harris replied 1 year ago.
Hi, thanks for your question.
No, not necessarily. Inheritance is not an automatic matrimonial asset unless you specifically brought it in and used it for matrimonial purposes. Therefore, it would be your decision whether to use the inheritance to assist him with his legal issue or not.
Please let me know if you have any further questions regarding this.
Customer: replied 1 year ago.
What are matrimonial purposes?
Expert:  Harris replied 1 year ago.
So for the benefit of the family - for example if you were to use the funds for day to day expenses, mortgage etc.
For example, if you were to divorce and there is a negotiation regarding a financial settlement, inheritance will not be considered as long as the needs of the parties can be met from the matrimonial assets. Inheritance will usually be considered when the needs of the family cannot be met solely on the matrimonial assets.
Customer: replied 1 year ago.
That is rather worrying. At the moment Pete is working but he is very unstable mentally and if he couldn't work then we would have to use the money to live on. Thank you for your help.
Expert:  Harris replied 1 year ago.
Hope it goes well. Please do come back if you have further questions in the future.
If you found my information provided helpful please could you rate my response positively as I will not be credited for my response without a rating.
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