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Stuart J
Stuart J, Property Solicitor
Category: Property Law
Satisfied Customers: 24625
Experience:  Senior Partner at Berkson Wallace
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I have some investment properties that I bought with my

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Hi. I have some investment properties that I bought with my wife. They were put in her name for tax purposes. We have recently divorced. The divorce settlement included terms for the joint management and the division of funds. But I'm concerned about the future. And would like to get me legally included in the ownership so I don't lose them in the future and lose the chance to bequeath my half-share to my children. Can you help?
JA: What steps have you taken? Have you filed any papers in family court?
Customer: Only divorce papers.
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: Liverpool Familit Court. UK
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: Not tht I can think of

Hello. Thank you for the question. It is my pleasure to assist your with this today.

Please bear with me and I will be online and off-line from time to time and therefore, may be delayed getting back to you. You will receive an email when I reply.

Was this a financial settlement?

and what did the settlement consist of please?

Customer: replied 18 days ago.
It was a financial settlement. It covered the agreed pension split and an agreement to sell one of the properties and divide any funds. This has been done. It further covered the other three properties we had. And an agreement to share any costs associated with the properties and to share the earnings. The earnings share was a 75/25% split in my favour until I reached retirement age in Dec 23 and a 50/50 split after that,

Ordinarily, unless there is a compelling reason otherwise, when you divorce, the assets are dealt with on a financial basis rather than a legal basis.

Ie.  It doesn’t matter whose name they are in.

If you are on good terms with your wife, you can either transfer the properties to joint names or have a separate deed of trust which says that she holds them on trust jointly with you.

If you draw that document it’s essential that she takes independent legal advice on it.

If a person who is potentially being disadvantaged does not have solicitors, it is not sufficient for a person to be told to take legal advice but then declined, it is essential that they do actually take that advice.  The solicitor must provide a certificate (a letter) confirming that he provided the advice).  The certificate doesn’t say what the advice is, the advice is confidential but the certificate just confirms that the advice was given.

Otherwise, it’s an argument.

Remember that there are 3 parts to every divorce.

1              The divorce itself

2              Finances

3              Children

1      is relatively straightforward and infinitely a DIY job and you can save a whole load of money by doing just that.  Even if solicitors are involved, the bill shouldn’t be more than a couple of grand although the court fee alone is GBP550.
It is arguing over 2 & 3 which costs big-money if solicitors are involved.
Nonetheless, people don’t have to have a court order in respect of 2 & 3 and they can actually agree what they like between us.  Many couples never have arguments and have no court orders.  My ex-wife and I never argued and never had a court order other than the actual divorce itself.

As part of the divorce process, to draw a line under the finances you will need a financial order.

The courts will not get involved in marital finances unless divorce or legal separation proceedings have started.

Remember that the divorce itself is not that expensive, if you use solicitors, it is arguing over money and children which costs the big bucks.

And here is some reading on applying for a financial order.

https://www.lawteacher.net/cases/financial-matters-on-divorce.php

Which draws a line under the finances of the marriage and prevents either of you coming back to the other, in some years time, asking for more money if circumstances have changed (the lottery?).

That’s what happened here when the spouse popped out of the woodwork years after the divorce, when there was no financial order.

https://www.dailymail.co.uk/news/article-3634949/Victory-hippy-millionaire-s-unemployed-ex-wife-wins-500-000-share-fortune-money-decade-broke-up.html

and here

https://www.dailymail.co.uk/news/article-1331925/Lottery-winner-Nigel-Page-pay-ex-wife-2m-left-10-years-ago.html

You can agree what you like between you, then it really is a case of putting the application into the court and the judge will rubberstamp the arrangements you have agreed.  Otherwise it’s a potentially expensive argument.

Here are some notes from the government

https://www.gov.uk/government/publications/i-want-to-apply-for-a-financial-order-d190

On applying for a financial order

This is the form you need to start the process: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/885814/form-a-eng.pdf

And how you go on from there depends on whether you agree with what is happening with the finance or whether you are going to have an argument.

Stuart J and other Property Law Specialists are ready to help you
Customer: replied 18 days ago.
OK. Sorry for my delayed response. I was in a work conf call. I've understood the above advice. My only questions would be a. what type of solicitor do I need for a Deed of Trust and b. Will a deed of Trust cover me and my family in the event of a death of either party?
Customer: replied 18 days ago.
Hello again. Cancel the phone call. I have everything I need now. Thanks for the advice. The Deed of Trust seems to be the way to go. Thanks again :-)

No problem.

It was my pleasure to assist you. Please come back if anything else crops up and needs clarification.

Thank you for trusting Just Answer, and of course me,  with your legal problem.