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Hi, thanks for the question. I’m Chris and I’m a Solicitor in litigation/family matters. I will be happy to assist you and hope to provide a full response as quickly as possible.
This is a question and answer service rather than an instant chat service, and I may not be able to reply immediately. However, rest assured that I am dealing with your question and will get back to you as soon as I can.
If you start divorce proceedings in the future, the finances will have to also be dealt with. Until there is a clean break financial order in place anything you or your wife owns at the time of the divorce proceedings starting will form the matrimonial pot. You will both be entitled to shares of that pot when it comes to division of the assets. Therefore, if your father gives you a cash gift it will form part of the information given during the divorce process and financial order. There can be some legal argument to try to ensure it doesn’t become matrimonial assets but it is much better if you didn’t have the money at that time. Do you need the cash gift at this time? How much is it?
A sizeable sum. What are you going to use it for?
I would not advise that you take it yet for the reason that I have set out above. However, if you have been separated for this amount of time then you may want to consider starting the divorce process and finalising the financial order. When you do that you’ll get a clean break so that if you get any monies (like you’re about to receive) it won’t matter because she will not be able to make any further claims against you.
If you want to set it up as a loan then it has to be a loan. A court may think that it’s being set up like that to try to avoid things then they may well consider that is not a loan and in fact a gift.
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