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Vineet S
Vineet S,
Category: Law
Satisfied Customers: 2810
Experience:  Freelance Solicitor at Self Employed
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I am planning on getting married this year and would like to

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I am planning on getting married this year and would like to understand how I can protect the wealth I have acquired prior to my marriage
JA: What steps have you taken? Have you filed any papers in family court?
Customer: no
JA: Family Court normally sits in a local County and Magistrates' Court. Do you know the location of the court? If not, what county do you live in?
Customer: we will be living in Kensington at the start of our marriage
JA: Anything else you want the Lawyer to know before I connect you?
Customer: yes we are not living together and have not lived together prior to marriage we are both working and plan on working throughout the marriage

Welcome to JA. I’m Vineet, a UK qualified & practicing Solicitor and I will be dealing with your case today.

Customer: replied 1 year ago.
Hi Vineet

Hi there,

You can sign a prenuptial agreement with your would-be wife regarding your assets and how they would be divided if things go wrong

If the option of divorce becomes unavoidable, you can produce the agreement which would be considered by the courts

Customer: replied 1 year ago.
hi are you available to chat
Customer: replied 1 year ago.
sorry I have just seen the response

So, for a pre-nup agreement, you should make sure:

  • The pre-nup is entered into by both parties freely and knowingly - that means you must both understand the agreement fully and agree to it voluntarily

  • The pre-nup is signed at least 21 days before the marriage to avoid claims that it was arranged in a rush or by putting one party under pressure

  • You each make a full disclosure of all your assets and property in existence

So, you can save your assets by signing a prenuptial agreement with your would-be wife.

Customer: replied 1 year ago.
if we do not progress with pre nuptial agreement what are the consequences
Customer: replied 1 year ago.
it is a difficult conversation to have
Customer: replied 1 year ago.
i trust my fiance but this is more for my understanding

If the event of a divorce, the assets would get divided as per the pre-nup agreement,

If there is no pre-nup agreement, then the assets gets divided equally between both the parties at the time of divorce

Customer: replied 1 year ago.
this includes assets acquired prior to the marriage

It is a legal document and binding on the parties.

Assets acquired prior to the marriage would depend , if the house is acquired before the marriage , but used as family home /marital home, would get equally divided.

Customer: replied 1 year ago.
i have not acquired any property but have built up some savings
Customer: replied 1 year ago.
we plan on buying our home together
Customer: replied 1 year ago.
however my fiance has not built up her savings
Customer: replied 1 year ago.
is relying on money from family as bulk of her deposit

Fiances /money/liquid cash acquired before marriage would not be taken into consideration at the time of divorce.

If that house is used as a marital house, then it would get divided

May not get divided equally though,

Customer: replied 1 year ago.
ok thanks and in the event my deposit significantly out weighs my spouses deposit, would you recommend a deed of trust

Unfortunately there is no straightforward calculation that can be done and any award will be at the court’s discretion

Yes, you can opt for deed of trust to fix your and your wife`s share in the property

Customer: replied 1 year ago.
would it not be divided equally even if the contributions were equal ?

Under the deed of trust , you can opt for any share amount as per your agreement

Customer: replied 1 year ago.
ok and it is a legally binding document

Yes it is legal and binding

If you need further assistance, please let me know.

&

If that answers your question, Kindly remember to rate my service by selecting the 5 stars at the top of your screen before you leave JA today,

Customer: replied 1 year ago.
Ok so to summarise:
Liquid assets acquired prior to marriage will not be taken into consideration at the time of divorce
To fix shares in the property a deed of trust is best way to do it
Customer: replied 1 year ago.
thanks for the help, I am just educating myself
Customer: replied 1 year ago.
if there are any resources useful for me to expand my knowledge would be grateful if you can point them out to me

Exactly. All liquid assets acquired before marriage would not be taken into consideration at divorce.

Deed of trust to fix share you can make at the time of the purchase.

You can further information about Deed of trust by clicking below link-

https://www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2017/what-does-a-declaration-of-trust-do/

If that answers your question, May I politely remind you to rate my service by selecting the 5 stars at the top of your screen before you leave JA today.

Vineet S and 3 other Law Specialists are ready to help you

Please don`t forget to rate the answer before you leave JA today, so that I could get credited for my time

Thank you and all the best.

Customer: replied 1 year ago.
Thank you