Form E - Financial Settlement and Inheritance

[PunchingBag]

Hello Dads,

What do you think about the following points for financial settlement?

1) I paused my work in Dec 2023 since my child arrangement case started - I wasn't planning but couldn't get back to work. Fortunately, my family helped me with my expenses.

2) The final order step for divorce was done in Nov 2024.

3) I understand that the previous 12 months' earnings are looked at to share finances -- I wasn't earning anything so how this will work out?

4) We had about £50k cash in savings from my earnings before separation and she was keeping it in her personal account which I agreed to at that time. This money disappeared and she claims that she doesn't have it. There are bank transactions where money is going to her account. -- what happens with this money? She seems to have given to her brother who purchased an expensive car with a large DP. Also, there is one property purchased in her brother's name, about £20k seems to be used to pay for DP. Money has been spent on something which is not ex name.

5) Her father sold property and gave all the money to her brother who purchased a second property in his name - this was inheritance money from her father which I believe she didn't keep in her name and allowed on purpose to keep everything in her brother's name so that she doesn't have to split with me. What happens to this money?

6) I will start working in Jan 2025 and if I manage to buy any assets...now that the final order for divorce is done but the financial settlement is pending - Ex is eligible for the share in this case for the new assets or earnings acquired from Jan 2025? excluding CMS.

Thank you for reading!

 

[Ash]

Bump

 

[Jumper85]

Hi @PunchingBag - responses below;


3) I understand that the previous 12 months' earnings are looked at to share finances -- I wasn't earning anything so how this will work out?

You can only declare what you can declare, in this case it's £0 but did you not even obtain benefits? You need to declare any income, even benefits. What the courts will look to do is look at your profession and try to determine what your earning capacity is. What is it you earned prior to being out of work, what's the likelihood you can return to that sort of work, etc? I'd suggest you support this estimate than rather allowing the court to make their own conclusions however from my experience, they would never over estimate but you may want to attempt to underestimate to give you some breathing room.

4) We had about £50k cash in savings from my earnings before separation and she was keeping it in her personal account which I agreed to at that time. This money disappeared and she claims that she doesn't have it. There are bank transactions where money is going to her account. -- what happens with this money? She seems to have given to her brother who purchased an expensive car with a large DP. Also, there is one property purchased in her brother's name, about £20k seems to be used to pay for DP. Money has been spent on something which is not ex name.

Sounds like you've got the statements, so as part of the court proceedings, you should give her a questionnaire which covers your questions about her finances, raise all the questions above formally. This then needs to be shared with the court. Your challenge is simple here, she's disposed or martial assets and passed them to her brother, therefore the courts need to take this into consideration that she has already received £50k. If there is a clear audit trail, she won't have a leg to stand on.

5) Her father sold property and gave all the money to her brother who purchased a second property in his name - this was inheritance money from her father which I believe she didn't keep in her name and allowed on purpose to keep everything in her brother's name so that she doesn't have to split with me. What happens to this money?

Not much you can do here in my opinion other than question the legal ownership and make sure that nothing actually is in her name. Sadly if her father has given his money to his son and not his daughter, then you don't have an argument. Technically she hasn't benefited from any of that money and any informal arrangement between her and her brother is very much that, it's informal.

6) I will start working in Jan 2025 and if I manage to buy any assets...now that the final order for divorce is done but the financial settlement is pending - Ex is eligible for the share in this case for the new assets or earnings acquired from Jan 2025? excluding CMS.

I'm unclear on what you've actually completed here. So have you actually finalised your divorce and obtain the final order so legally divorced but you have not settled finances beforehand? You have no financial settlement? If so then yes, she is eligible.