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Asset Sharing on Divorce- A Question

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Asset Sharing on Divorce- A Question

Old 7th Nov 2018, 11:36
  #21 (permalink)  
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Join Date: Apr 2004
Location: Richard Burtonville, South Wales.
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LNS, thank you for that- didn't see that one coming. Cheers.

CG
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Old 7th Nov 2018, 15:49
  #22 (permalink)  
 
Join Date: Nov 2008
Location: Darkest Surrey
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Most decent Divorce lawyers will provide a 1st consultation free or for a nominal amount.

Best friend and her hubby had substantial house, pensions and stuff with 3 kids. They saw a lawyer in London who openly told them that £10,000 plus was likely bill if used them but then gave them a whole lot of detail on resolving it independently. Lawyer said less involvement you have with a lawyer the more likelihood you may actually communicate with each other in 5 years and she was happy not to see them again as if it wasn't adverserial why involve lawyers.

They took the advice and resolved it between them only using lawyers to ensure everything legally was in order.

They still talk and kids didn't suffer............................ well not at the extreme end anyway.

In relation to the flat I beleive it is possible to sign an undertaking with solicitor waiving any further benefit in relation to this and getting both solictors to agree. Mortgage can stay in both names to prevent a huge financial hit on remortgage. Also important to notify HMRC that he has no longer any beneficial interest in Flat.
Setting up a Standing Order to pay of an amount per month off mortgage will over time get it below Loan to value ratio to remortgage.
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Old 7th Nov 2018, 16:22
  #23 (permalink)  
 
Join Date: Jun 2009
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As common sense and divorce law are very different things they need to get proper paid for legal advice for their situation.

If that isnít clear read it again
Jetstream67 is offline  
Old 7th Nov 2018, 16:53
  #24 (permalink)  
 
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So let me get this straight CG:
You are going to hoist in everything that is said on this thread and then act on it, in the interest of your daughter?
If she happens to ask daddy where he got this information, daddy is going to say what?
Stop being a cheap skate FFS, it's your daughter. Get financial and legal advice from recognised experts - and yes, you'll have to pay for it dellboy!
Thomas coupling is offline  
Old 7th Nov 2018, 17:44
  #25 (permalink)  
 
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Originally Posted by Thomas coupling View Post
So let me get this straight CG:
You are going to hoist in everything that is said on this thread and then act on it, in the interest of your daughter?
If she happens to ask daddy where he got this information, daddy is going to say what?
Stop being a cheap skate FFS, it's your daughter. Get financial and legal advice from recognised experts - and yes, you'll have to pay for it dellboy!
Stop being a PITA, CG is asking more to ensure when he has a discussion he is aware of ups and downs in relation to anything that is happening.
Could of course ask Solicitor every question.................... key thing being is many will only tell if you ask the right question and then add it to the cost.
If you friend asked you for advice because they believed you may have some experience would you automaticall say No or give them some advice so
when they talk to an expert they at least had some knowledge or background.
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Old 7th Nov 2018, 19:04
  #26 (permalink)  
 
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Originally Posted by LowNSlow View Post
Firstly, if he transfers the flat from joint names to her name only there will be a further stamp duty impact but only around £150 (3% of £100,000/2, 3% as it's a 2nd property).
3% of £100,000/2 is £1,500, not £150.

PDR
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Old 7th Nov 2018, 19:26
  #27 (permalink)  
 
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Well spotted PDR, you are indeed correct! My fat thumbs got it wrong again!!
LowNSlow is offline  

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