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Hi
Quick question:
Me and ex-wife (divorce under process) will probably soon start finanical proceedings. My wife definetly had (or have) more savings just before we split up.
I have about £43K savings of which I owe roughly £18K to my family. If it wasn't for the divorce they would have let me keep this money. However my dad is worried weather this will go into marital division (£43K). I have no idea what her balance sheet is currently as she may have spent it since the split.
The main dispute is the property and I am entitled to 50% based on contribution and it was a short marriage. If she had spent the money (or hidden it somehow) and I appear to have more money than her then it is likely she can be entitled to more share of the property.
My dad has spoken to his auditor overseas and will be sending a letter to prove that he has given me the money back in 2006/7ish. When the money was given it was only a verbal agreement and he can only provide proof of the loan given to me retrospectively (i.e, a letter confirm that a bankers draft was given to me back in 2006/7ish endoresed by a professional auditor overseas)
My financial proceedings is more likely either a mediation or solicitor led negotiation (I don't know yet) where I will probably have to disclose 12month statements.
I have two options:
1. Show my entire balance of £43K and send a letter from my father showing the debt that I owe him and advise their solicitor that only around £28K should be considered as my asset considering the family debt.
2. Pay the debt off to my family now and show whatever is remaining which is around £28K and show the letter of proof of debt with a retrospective date. This will show up on statements that I have given them the money.
I am not sure which one to do. Any advise please?
Thank you
Quick question:
Me and ex-wife (divorce under process) will probably soon start finanical proceedings. My wife definetly had (or have) more savings just before we split up.
I have about £43K savings of which I owe roughly £18K to my family. If it wasn't for the divorce they would have let me keep this money. However my dad is worried weather this will go into marital division (£43K). I have no idea what her balance sheet is currently as she may have spent it since the split.
The main dispute is the property and I am entitled to 50% based on contribution and it was a short marriage. If she had spent the money (or hidden it somehow) and I appear to have more money than her then it is likely she can be entitled to more share of the property.
My dad has spoken to his auditor overseas and will be sending a letter to prove that he has given me the money back in 2006/7ish. When the money was given it was only a verbal agreement and he can only provide proof of the loan given to me retrospectively (i.e, a letter confirm that a bankers draft was given to me back in 2006/7ish endoresed by a professional auditor overseas)
My financial proceedings is more likely either a mediation or solicitor led negotiation (I don't know yet) where I will probably have to disclose 12month statements.
I have two options:
1. Show my entire balance of £43K and send a letter from my father showing the debt that I owe him and advise their solicitor that only around £28K should be considered as my asset considering the family debt.
2. Pay the debt off to my family now and show whatever is remaining which is around £28K and show the letter of proof of debt with a retrospective date. This will show up on statements that I have given them the money.
I am not sure which one to do. Any advise please?
Thank you
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