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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34105
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My wife and I have always had joint named UK investments during

Resolved Question:

My wife and I have always had joint named UK investments during our 22 years together, however we are now in the process of getting divorced.We have lived on and off in France throughout our marriage and she has filed for divorce there, not in the UK.
Our last bond matured a few days ago and the proceeds were paid in to our joint bank account.On accessing the account I found to my horror that it had been emptied of the proceeds by my wife.She refuses to repay my half of the large sum involved.Big problem as I rely on the income from this to supplement my meagre pension.
Submitted: 3 years ago.
Category: 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 far have the divorce proceedings reached?
Clare
Customer: replied 3 years ago.

Hi Clare-jurisdiction for the divorce proceedings was granted in France, but all the assets apart from the house are UK based.The reason for the French jurisdiction was inheritance does not come into the division of assets.


We have had discussions re the division of assets and what my wife wants is totally unacceptable.The reason offered why she refused to give me my half of this £85k bond was to make me more amenable to her demands.I am concerned that if this money is taken out to France it will be lost for good as the legal wrangle would be a nightmare.I am minded to apply to Bury St Edmunds County Court to try and resolve matters.


Regards XXXXX XXXXX

Expert:  Clare replied 3 years ago.
Hi
You cannot do so I am afraid.
The French court is already seized of the matter.
Your ex has done nothing legally wrong (morally of course is a different story) by removing funds from the joint account
I am afraid that this money will have to be dealt with within the French divorce proceedings
I appreciate that this is bad news but sadly I can only be honest with you about the position that you are in
Please ask if you need further details
Clare
Customer: replied 3 years ago.

Hi-I was lead to believe that only investments, property etc etc actually situated or resident in France come under their jurisdiction not overseas assets.


My wife has assets in Switzerland which are exempt.I do not understand why this is so.


Regards-Iain.

Expert:  Clare replied 3 years ago.
Hi
Is this what your. French Advocate has told you?
Clare
Customer: replied 3 years ago.

Hi-it's a trust based in Switzerland, with trustees operating in Liechtenstein.All part of an inheritance which the French deem outside any divorce settlement.


Regards-Iain.

Expert:  Clare replied 3 years ago.
Hi
I was referring to what you have been told about the UK bases assets
Clare
Customer: replied 3 years ago.

Hi-all I've been told by my French lawyer [and to be fair I have not wanted her running up a huge bill, so to date she has not been involved, save to tell my wifes people that the latest offer was derisory] is get the best agreement possible with your wife, but her inheritance is a non starter.The very reason why she filed for divorce in France, unlike the UK rules, where inheritance certainly wouldnt be 50/50 as with some of the latest judgments, but maybe 60/40.


This move of hers is just another turn of the screw to get me to surrender!!!! I guess I was dumb not taking my half out immediately, instead of asking her where she wanted her £42,500 transferring to?


Beginning to look like I cant win with this one!


Iain.

Expert:  Clare replied 3 years ago.
Hi
Actually even in the UK there would have been no chance of the inherited assets being shared 50/50 even if they were shared at all.
However I am afraid that the fact remains that since the monies we are discussing are not inherited assets athey will have to be dealt with within the divorce proceedings in France
Clare
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