Divorce and Entitlement to Share of Savings in ISA Account Question?

[teaboy2]

Right guys, basically my brother is getting divorced and he was wanting (was also agreed to by his ex, originally) half of what they had in the ISA savings account which he was claiming under divorce proceedings via solicitors/mediation along with a share of the house when their child is 18.

Now the money in the ISA account was all hers, but all other bills and costs of living, they went more or less 50/50 on. Though my brother was the bigger earner so he paid more towards larger costs and larger bills throughout the whole time they were living together (including prior to marriage).

Now since they split up and have been separated and after his ex had agreed originally to give him half of what was in the ISA account, she has now gone and spend the whole amount in the ISA account on a new car and is now claiming she can not give him the share of the ISA that she had originally agreed to, basically leaving my brother with ZERO.

So my brother wants to know if their is anything he can do about it such as getting her to pay so much a month to him till the full amount of what was originally agreed as his share is paid off? Or if there is any other action or options he can take?

Any help/advice would be appreciated as divorce and ISA accounts are not my area!

Not if you need to ask questions bear in mind i shall have to put the questions to my brother before i can respond to them so it may take a while for me to respond to them, but i will do eventually.

[Inca]

Re: Divorce and Entitlement to Share of Savings in ISA Account Question?

Has he got the original agreement re the ISA in writing? Was it part of the divorce settlement?

[leclerc]

Re: Divorce and Entitlement to Share of Savings in ISA Account Question?

I am afraid that unless a pounds and pence amount was within the agreement then effectively up to the point in which the divorce is granted she can spend whatever money is in the ISA since the account cannot be frozen since it is not in joint names.

To be honest, I think he has gotten a raw deal in this one and unless something was signed prior to the agreement then he has been done by the former wife.....

[teaboy2]

Re: Divorce and Entitlement to Share of Savings in ISA Account Question?

As far as am aware it was in writing but shall have ask my brother to make sure.

They are not yet divourced by the way, so anything in writing will have been part of settlement negotiations.

[leclerc]

Re: Divorce and Entitlement to Share of Savings in ISA Account Question?

Teaboy2, if she has spent the money then I suggest that your brother renegotiates the financial settlement on the basis that she has spent the money that was promised ie she mislead him into believing that there was a 50/50 split which meant that he took on more financial things that he would have had that "incentive" not been on the table.