Protecting wealth before marriage ?
Discussion
Adam B said:
Du1point8 said:
Aye... this is why my OH is suggesting a document that means assets before relationship/marriage are our own and will not be part of a break up.
She realises that I have a lot (10+ times more) to lose by going into this and she wants to put my mind at rest.
except the legal advice I got is that isn't worth the paper its written on, as once married a year it counts as 10 (ie including pre-marriage relationship) and those terms would not be deemed fairShe realises that I have a lot (10+ times more) to lose by going into this and she wants to put my mind at rest.
If so that's basically saying every OH was not of sound mind when signing that according to the legal system as its unfair and forced, so technically was not of sound mind in marriage and hence forced, so if she goes for divorce, can you go for annulment stating she was not of clear mind when entering the marriage so therefore a sham?
Du1point8 said:
Thats even with them signing documents that they realised the details of I have 4 million and she has nothing and signs that she wants no part of that?
I can only tell you what I was told, pre-nups are not statute yet, so you are relying on a contract which a court may not enforce if a) parties were coerced, b) parties didn't get independent legal advice, c) terms are deemed reasonableyou may be ok on a and b but not c (although in much better position than no contract at all)
TEKNOPUG said:
He needs to get the wealth out of his name, so it's untraceble should divorce lawyers come looking.
That's what I'd do if the situation arose.The other side is, why does she even need to know about the £4m (assuming it's not a huge house)? If she doesn't know your wealth or where assets are she's far less likely to go after it.
If I had £4m I'd admit to £500k and hide the rest. Damage limitation.
*It should be noted I haven't been in the position, either £4m nor marriage.
Cold said:
p1stonhead said:
God some of you lot are depressing!
Aren't the responses just based on real-life experiences? You can't really be surprised that some have a negative view of a process that has treated them negatively. WestyCarl said:
Maybe it's just me, but I don't recall any financial "what if" discussions or pre-nup talks before I got married. It was all talk about how we are looking forward to it, shared house, living together, etc,etc.
And were you a multimillionaire marrying a penniless woman..? TLandCruiser said:
I'm married and there's really no point except exposing himself to financial risk. He's better off spending the money from the future wedding costs on a lawyer to protect his assets from potentially splitting up with a long term partner.
Obviously trying to dodge the question as to why he does not want to get married from his partner maybe more difficult
Protect his assets from what, exactly..? Obviously trying to dodge the question as to why he does not want to get married from his partner maybe more difficult
Cold said:
Aren't the responses just based on real-life experiences? You can't really be surprised that some have a negative view of a process that has treated them negatively.
PH on relationships reminds me of the Jack Nicholson "just no one in this car" speech in As Good As It Gets.A couple links I thinkyour friend may need:
This one before he gets married:
https://www.mgtow.com
And if he still persists with this madness then:
http://www.dailymail.co.uk/femail/article-4438216/...
This one before he gets married:
https://www.mgtow.com
And if he still persists with this madness then:
http://www.dailymail.co.uk/femail/article-4438216/...
If they are married for anything more than about a year and then decide to divorce, any decent solicitor she gets involved will probably get her half the estate. If there are kids involved, expect spousal maintenance for either fixed term or life, and child maintenance enforced through the courts (although this is only enforceable for a year, then it goes to the CMS if one party so decides) depending on how long the marriage was. As another poster has said, children will significantly complicate the issue and increase both the legal and ongoing costs. The courts will very much take a view that a standard of living has to be expected for both parties, and will divide assets accordingly.
When I got divorced three years ago, my ex wife got literally everything in the house, I had to pay the mortgage for three years whilst paying my own rent, give her a fairly significant sum of money, let her have the use of my company car (which I had to pay the tax on and maintain), and commit to spousal maintenance for the length of the term of the marriage, which was seven years. I also had court enforced child maintenance and had to agree to give 50% of the equity in the family home when it was sold. My solicitor reckoned I got off quite easy in comparison to other cases she had handled, but we did at least £30k in legal fees during the divorce between us, it took 18 months and was a bloody nightmare.
My advice? Do not get married. It is not worth it. It's a piece of paper. Commit to someone and live with them by all means, but keep your monies separate, make a note of what you've brought into the relationship (bills paid, things purchased) and try to keep money out of it as much as possible. If you argue over not getting married, "you don't love me enough to marry me" and all that crap, then why are you marrying someone who wants to emotionally blackmail you right from the start? I can tell you how that will end.
When I got divorced three years ago, my ex wife got literally everything in the house, I had to pay the mortgage for three years whilst paying my own rent, give her a fairly significant sum of money, let her have the use of my company car (which I had to pay the tax on and maintain), and commit to spousal maintenance for the length of the term of the marriage, which was seven years. I also had court enforced child maintenance and had to agree to give 50% of the equity in the family home when it was sold. My solicitor reckoned I got off quite easy in comparison to other cases she had handled, but we did at least £30k in legal fees during the divorce between us, it took 18 months and was a bloody nightmare.
My advice? Do not get married. It is not worth it. It's a piece of paper. Commit to someone and live with them by all means, but keep your monies separate, make a note of what you've brought into the relationship (bills paid, things purchased) and try to keep money out of it as much as possible. If you argue over not getting married, "you don't love me enough to marry me" and all that crap, then why are you marrying someone who wants to emotionally blackmail you right from the start? I can tell you how that will end.
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