A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Lines open: Monday to Friday 9am-5pm
Call for FREE expert advice & service info


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.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


how to stop stbx spending entire assets

  • JulieP
  • JulieP's Avatar Posted by
  • Senior Member
  • Senior Member
More
19 Mar 12 #319047 by JulieP
Topic started by JulieP
I am wondering if anyone has advice, or has been in a similar situation.

My stbx husband has spent £40k+ so far on legal bills, and we have NOT got to Decree Nisi, or ancialliary relief or children''s arrangements yet.

He is threatening to spend everything he has on legal fees so that I don''t get a penny from him. He is also going to switch to working part time - thereby reducing his income. He has given many of his assets to his relatives, saying he has to support them (started this in the weeks after I gave him the divorce petition). Today he threatened me that it could cost us our house.

My question is - if he runs up huge debts in legal fees, ie has spent all his savings - will I be liable for these debts?
Will he be able to force the sale of our FMH to pay his legal fees debts? (we jointly own this).

If he becomes bankrupt could the courts take our family home and leave me and our daughter homeless and with nothing?

Is there something I should/can be doing legally to stop him spending all this money on legal fees? I am self representing as I don''t have the money for legal fees, I earn a decent salary (too much to qualify for legal aid) but spend every penny on bills and maintaining our home and for our daughter who is 9. (married 13 years, trying to get divorced for 11 months so far...).

thanks
J

  • redwine47
  • redwine47's Avatar
  • Platinum Member
  • Platinum Member
More
20 Mar 12 #319058 by redwine47
Reply from redwine47
I dont have an answer but my ex has spent 20K+ on luxuries etc since our seperation 2 yrs 6 mths approx eg holidays, golf, surfing lessons, expensive cloths for lady friend. Spoke to solicitor/barrister about this and they said that they will definitely be making judge aware of this, but once money spent cannot bring it back. :angry:I will be pushing for this to be taken into consideration and it should be included in pot for division.

Shocking considering he is on 52K a year and I am unemployed and have the children and not spent anything like this and I am living off savings as not entitled to benefits.!!

I do not have faith in the judicial system though at present due to previous issues and believe he will get away with it?

Good luck and you get some answers.

  • JulieP
  • JulieP's Avatar Posted by
  • Senior Member
  • Senior Member
More
01 May 12 #327620 by JulieP
Reply from JulieP
Hi, thanks for replying, I''m sorry to hear your situation. It sounds similar to mine.
The question is can anything be done to stop this kind of spending. I am also living off savings, and these are almost gone. My stbx has emailed me to say he is going into debt, and that there are financial hearings, child hearings and divorce (he is defending the divorce) hearings - he pays a barrister and lawyer to attend these, and he has spent now nearly £70K - its all gone.
I will try posting my original question again, and hopefully someone who knows something legal might give some advice. There must be a way of protecting the joint assets from reckless spending of one person.
good luck with everything and thanks
J

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11