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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


Trust fund

  • hadenoughnow
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29 May 12 #333812 by hadenoughnow
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I think we all need to go back to basics here.

This trust is effectively inheritance. Unlike an inheritance that may happen in future, it is real. Therefore its value - or rather the ex''s share and that which the OP loses on divorce must be considered even if only as a negotiating tool.

Say for example the Trust fund was 100k with 5 x beneficiaries. That would be 20k apiece (eventually).

If one of the beneficiaries was excluded by divorce, there would then be four who would get 25k apiece. The divorced spouse would "lose" £20k and the ex would "gain" 5k. The tricky bit is whether it is the loss .. or gain ... that is significant. I would suggest it is the gain as that is real ... but someone else may think it is the loss that matters.

Chances are, depending on the number of beneficiaries, that it is not worth having much of a fight about. I suppose though that the OP''s stbx may be persuaded to join with her in asking for the trust to be wound up and pay out .. which seems to be perfectly in order. I guess a new trust could be set up for any minors.

Using the scenario above, this would mean they each get 20k so a total of 40k between them to help with housing costs ... as opposed to 25k as a result of her ceasing to be a beneficiary on the end of the marriage.

Of course this may all be purely academic if there is enough cash to house both the OP and her stbx without recourse to the trust/inheritance. An adjustment can be made to the equity shares to reflect the inheritance due. After all, if it had actually been inherited rather than put in trust, it would have been subsumed into the family finances long ago.

Hadenoughnow

  • Fiona
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29 May 12 #333824 by Fiona
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Hadenoughnow is spot on. Future inheritances aren''t usually considered because they aren''t certain. When an inheritance is certain it will be a resource available to one party and has to be considered as part of the overall circumstances, although if the inheritance is likely to be a long way off materializing it may not make much difference.

  • soulruler
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29 May 12 #333848 by soulruler
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Cookie, I couldn''t agree more. My husband has racked up legal costs in excess of £500,000 and yet each time we go to court his legal team is told no and yet he does not attend or give any evidence that my mother is dead and I have received an inheritance.

On the other hand she does turn up and give affidavits to court to say she is alive.

Yes, quit whilst ahead or you will end up in prison or going insane.

I am "winning" not that I see that that way as I have three children, have lost my own marital businesses, my mothers assets have been frozen for 3 years, I am not on benefits at all and I am a victim of extreme domestic violence and legal abuse.

As I said my case is about to hit the headlines in open court in RCJ in Queens Bench in London.

The abusive should know when enough is enough. I know I am innocent and responsible in law and I also know my grounds and have been told I am right by top UK High Court Judges and Masters.

  • Molly72
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29 May 12 #333857 by Molly72
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soulruler wrote:

Cookie, I couldn''t agree more. My husband has racked up legal costs in excess of £500,000 and yet each time we go to court his legal team is told no and yet he does not attend or give any evidence that my mother is dead and I have received an inheritance.

On the other hand she does turn up and give affidavits to court to say she is alive.

Yes, quit whilst ahead or you will end up in prison or going insane.

I am "winning" not that I see that that way as I have three children, have lost my own marital businesses, my mothers assets have been frozen for 3 years, I am not on benefits at all and I am a victim of extreme domestic violence and legal abuse.

As I said my case is about to hit the headlines in open court in RCJ in Queens Bench in London.

The abusive should know when enough is enough. I know I am innocent and responsible in law and I also know my grounds and have been told I am right by top UK High Court Judges and Masters.


Well I don''t have £500k to spend on legal costs and have no intention of being abusive or chasing something which is a no brainer.

The original query was is this an asset that my husband (neither of us have done anything about divorcing yet) should put on form E? It isn''t a possible, maybe one day, inheritance it is a real lump of money which in theory they inherited 12 years ago when my MiL died and could realise now if they wanted to. The reason for not doing so is the none binding wish in the will that they consider my FiL as the primary beneficary while he is alive.

Twelve years ago it was worth £232,000 so with growth etc it is probably worth about £350,000 now? The beneficaries at time of death were FiL, children (ie my husband and BiL), childrens spouses (me at time but BiL now married), grandchildren (2 at time now 4 more born), grandchildrens spouses (none then or now). The trustees can pay out whatever they deem fit to each and any of the beneficiaries or completely wind it up by irrevocable deed.

I don''t want it but if its value being on the form E means I can negotiate keeping the house for me and the kids to live in so much the better.

  • soulruler
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29 May 12 #333860 by soulruler
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Your husband is not the sole beneficiary and the trustees are responsible. Take legal advice from a trust solicitor. You can hope that the trustees are willing to disclose but their is no obligation unless the trust has been paying out to you and your husband.

I repeat, be careful as my husband is being prosecuted in Queens Bench for making false claims against a trust.

I would also add get any advice in writing so that if things go wrong for you you can make a claim of professional negligence against the lawyers who have advised you to take the course you are. Trusts are not in the public domain whereas wills are.

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29 May 12 #333865 by soulruler
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I would also add that my husband did not have £500,000 to spend on legal fees for some reason which I cannot explain his legal teams (plural) have decided to represent (actually misrepresent) him on a no win no fee basis.

As far as I am aware he has only paid £6,000 on legal fees whereas I paid £80,000 much of it borrowed but also savings before I had to give up and self rep (the best decision of my life).

He keeps going on false promises and fails to attend court and the legal teams keep going just because I am a self litigant thinkging that I am wrong even though I have never taken a case out in court (until now when I am making one).

Fools rush in where angels fail to tread. I know I am not an angel but I also know that I am no longer a fool.

Be careful.

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29 May 12 #333875 by Fiona
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The original query was is this an asset that my husband (neither of us have done anything about divorcing yet) should put on form E?


The straightforward answer is yes, the trust is relevant and your husband''s interest should be disclosed. As said above it is a resource that will be available to your husband and needs to be seen in context of the overall circumstances.

A bridge that may need to be crossed is obtaining the relevant information from the trustees which can be problematic.

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