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 Harris Your Own Question
Harris, Law Specialist
Category: Law
Satisfied Customers: 2851
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
Type Your Law Question Here...
Harris is online now

My wife and I have separated recently. 2 years ago I bought

This answer was rated:

My wife and I have separated recently. 2 years ago I bought a 50% share of a business. We have so far paid off around £80,000 for the shares but I still owe around £100,000.
If we both agree a figure is it possible to get a legally binding settlement agreed now that I owe her for 'her' part of the business. I don't want to agree say 50 k now and then she says in 2 years she wants 70k for example
Hi, thank you for your question. Yes, it is possible to put in any settlement for a lump sum to be paid at a certain time or if a certain event happens. However, you should be aware that unless there is a court-approved settlement or a court order in place regarding what you have agreed, nothing is binding.If you wish to obtain further information regarding finances in a divorce, please confirm the following:-are you intending on obtaining a divorce?-how long have you been married?-do you have any children together, if so their ages and arrangements-what other assets and liabilities you both have-what your respective income position isIn the meantime if you found this information helpful please provide a positive rating. I will not be credited for answering your question without a positive rating. Thank you
Harris and other Law Specialists are ready to help you