How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Clare Your Own Question

Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33521
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
13262538
Type Your Family Law Question Here...
Clare is online now

Would a deed of separation protect 100% of my portion of the

Resolved Question:

Would a deed of separation protect 100% of my portion of the house equity from any debts my partner may run up after the deed is signed?
Specifically trying to protect my part (which we have agreed would be over 50% of the equity) from creditors on my partners side; we want to avoid selling the house now and continue living together.
The house is joint mortgaged.
I have money in a separate bank account (my name only) which I assume is already protected from any of my partners future debts in their name only. Am I correct?
Submitted: 3 months ago.
Category: Family Law
Expert:  Clare replied 3 months ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further informtaion first?

Are you actually married?

Customer: replied 3 months ago.
We have been married for 21 years.
Expert:  Clare replied 3 months ago.

What percentage division were you thinking of?

Customer: replied 3 months ago.
My husband and I would agree on a division of the equity value of the house of around 70% to me and 30% to him.I just discovered that he is addicted to gambling and that he has lost almost all our savings in the past 5 years without my knowledge. Practically all is left to save now is the house.I am a museum educator and my wages have always been less than 1/5 of my husband's. Unfortunately I had very recently decided to leave my job to pursue a PhD so, of course, I am now looking for new employment.I hope that this additional information will be helpful.
Expert:  Clare replied 3 months ago.

50% of the equity is protected by Default.

If any of your husbands creditors took action against the house then your share is automatically safe.

Any monies held in your sole name are also safe

You can sign a Declaration of Trust stating that the ownership of the property is 70/30 in your favour and this can be registered at the Land Registry - however it will not necessarily protect the extra 20% against debts that he has already accrued.

Please ask if you need further details

Customer: replied 3 months ago.
Thank you. Just a clarification, if possible:
When you say that a declaration of trust "will not necessarily protect the extra 20% against debits that he has already accrued", does this means that the extra 20% would be protected if debits were to be accrued by him after signing the declaration?
Expert:  Clare replied 3 months ago.

Yes that is correct!

Customer: replied 3 months ago.
Thank you so much, Clare. Very helpful and clear.
If I can, I have another small question: would the content of such Declaration of Trust be binding in case of future divorce, or, like the Deed of Separation, be subject to revision?
Expert:  Clare replied 3 months ago.

It will not necessarily be binding - but the Court will think carefully before going against either of those

Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33521
Experience: I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
Clare and other Family Law Specialists are ready to help you

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Kasare

    Kasare

    Solicitor

    Satisfied Customers:

    204
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
< Previous | Next >
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    204
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/TG/TGraham12/2012-7-17_81212_bigstockBusinessHandshake508163.64x64.jpg Thomas's Avatar

    Thomas

    Solicitor

    Satisfied Customers:

    160
    UK solicitor
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Solicitor

    Satisfied Customers:

    7
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    340
    LL.B (Hons), Higher Prof. Dip. Law & Practice
  • http://ww2.justanswer.com/uploads/GL/Glossolicitor/2013-5-14_214834_TWMParkinsonWright.64x64.jpg Glos solicitor's Avatar

    Glos solicitor

    Family Solicitor

    Satisfied Customers:

    2
    10 years experience in all areas of family law, now specialising in cases involving social services and children
  • http://ww2.justanswer.com/uploads/CL/clairep80/2013-8-25_191218_dreamstimexs267279822nd.64x64.jpg Clare's Avatar

    Clare

    Family Solicitor

    Satisfied Customers:

    4598
    I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
  • http://ww2.justanswer.com/uploads/HH/hhlaw/2015-12-8_22495_unnamedlanczosbicubic.64x64.jpg Harris's Avatar

    Harris

    Family Law Expert

    Satisfied Customers:

    1064
    Family Law - Specialist in Divorce, Financial Relief and Children Matters