Fiancial Resolution

[Milly123]

Hi All!

First time poster and hoping that someone may be able to offer some advice please.

My husband of 15 years and I are now divorcing. My husbands side of the family are very wealthy and over the period of the marriage have 'gifted' us money to help with getting a house and the costs of raising 4 children etc. Every time my mother-in-law gave us money, she asked us to sign a typed note confirming that the money was an interest free loan with no need to pay it back and that if it was still unpaid on her death, that the funds would be deducted from the inheritance we would receive.

I am now living on benefits with my husband paying the minimum maintenance and I am concerned that these 'notes' will be produced saying that I owe money. She lives in the Channel Islands and it is my understanding that she had us sign these to cover herself as she has always been concerned about the UK tax getting involved.

I will no longer be receiving any inheritance from her.

Am I likely to be expected to pay back half of these gifts/loans?

Any advice or guidance would be really appreciated as I'm getting myself in a bit of a state over this.

Many thanks, Milly

[des8]

Hi Milly, welcome

"an interest free loan which doesn't have to be paid back , but on the donor's death is deducted from any inheritance"

If the notes confirm the "loans" do not need to be repaid IMO there is no way the terms of the gift can be changed unilaterally by either the donor or the other recipient.