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Hi
I'm a total newbie on here so I want to ask a question which I'm sure will have been asked and answered a million times before. I apologise upfront for any duplications.
Here goes with the back story and facts
......
1. I have been separated 9 years, for ease of reference I shall refer to my estranged wife as "my ex" even though we are not legally divorced at this point in time.
2. I'm on "quite good" terms with me ex.
3. We have two children aged 20 and aged 12 who are loved, respected and valued. They are living happily and safely with me in a very calm family home in the UK. The children are of primary importance in my considerations and planning.
4. She suffers from terrible anxiety and bipolar disorder making her behaviour unpredictable and based on volatile emotions. A bit like handling dynamite she could be stable for 1 day, 1 week or she could explode without any notice for no clear reason. Lets just say her behaviour is complex.
5. We have two properties.
i) a uk house owned for the past 9 years 50:50 but she hasn't lived here for more than 1 day. I have always paid the large mortgage on the house on my own along with all bills. I live in the house with our 2 children. I pay for everything to do with our 2 children and the UK house. She has no connection with the house and the maintenance of our two children. She see's the children 2-3 times per year away from the UK house in her own little flat on a basis the "works for us" as a family unit.
ii) a villa in Greece given to me as wedding present by her dad 25 years ago. To avoid Capital Gains Tax issues (CGT) I would like gift her the Greece house to "my ex" as full and final divorce settlement. She would then do with the villa what she wants, gift it on to her dad, sell it, keep it. Don't know, it's her decision what she will do with it.
6. The UK house and related mortgage would be moved 100% into my ownership under the divorce settlement agreement.
7. My new girlfriend would gradually move into my UK house over the next 12 months and we may or may not marry, but we would live like a married couple.
8. It is my intention to (financially) "look after" my new partner but not expose my financial assets to risk, as any assets I have are ultimately the assets of children.
9. I have completed a will which states on my death all my assets pass to my children.
10. I'm afraid that my new partner might have a legal claim on my UK house after some time of living with me under our "new arrangement" follow my imminent divorce. I love my new partner and see her as "the one" so I do not imagine breaking up ever, but life is strange. You blink and 10 years goes by and you never know what happens in 10 years.
11. I need a way I can ringfence my house and investment assets so they could not be claimed by my partner, instead they would be safe for my children. But at the same time I need to keep the mortgage company happy that they are lending money to me and I will continue to make all mortgage payments without putting the property at risk of future ownership challenges from my new partner.
I can't imagine I'm the first person in history to ever have this predicament.
Question: Is there a simple and standard way that I can structure the process to provide the protection I need.
Thanks
ZZZ
I'm a total newbie on here so I want to ask a question which I'm sure will have been asked and answered a million times before. I apologise upfront for any duplications.
Here goes with the back story and facts
......1. I have been separated 9 years, for ease of reference I shall refer to my estranged wife as "my ex" even though we are not legally divorced at this point in time.
2. I'm on "quite good" terms with me ex.
3. We have two children aged 20 and aged 12 who are loved, respected and valued. They are living happily and safely with me in a very calm family home in the UK. The children are of primary importance in my considerations and planning.
4. She suffers from terrible anxiety and bipolar disorder making her behaviour unpredictable and based on volatile emotions. A bit like handling dynamite she could be stable for 1 day, 1 week or she could explode without any notice for no clear reason. Lets just say her behaviour is complex.
5. We have two properties.
i) a uk house owned for the past 9 years 50:50 but she hasn't lived here for more than 1 day. I have always paid the large mortgage on the house on my own along with all bills. I live in the house with our 2 children. I pay for everything to do with our 2 children and the UK house. She has no connection with the house and the maintenance of our two children. She see's the children 2-3 times per year away from the UK house in her own little flat on a basis the "works for us" as a family unit.
ii) a villa in Greece given to me as wedding present by her dad 25 years ago. To avoid Capital Gains Tax issues (CGT) I would like gift her the Greece house to "my ex" as full and final divorce settlement. She would then do with the villa what she wants, gift it on to her dad, sell it, keep it. Don't know, it's her decision what she will do with it.
6. The UK house and related mortgage would be moved 100% into my ownership under the divorce settlement agreement.
7. My new girlfriend would gradually move into my UK house over the next 12 months and we may or may not marry, but we would live like a married couple.
8. It is my intention to (financially) "look after" my new partner but not expose my financial assets to risk, as any assets I have are ultimately the assets of children.
9. I have completed a will which states on my death all my assets pass to my children.
10. I'm afraid that my new partner might have a legal claim on my UK house after some time of living with me under our "new arrangement" follow my imminent divorce. I love my new partner and see her as "the one" so I do not imagine breaking up ever, but life is strange. You blink and 10 years goes by and you never know what happens in 10 years.
11. I need a way I can ringfence my house and investment assets so they could not be claimed by my partner, instead they would be safe for my children. But at the same time I need to keep the mortgage company happy that they are lending money to me and I will continue to make all mortgage payments without putting the property at risk of future ownership challenges from my new partner.
I can't imagine I'm the first person in history to ever have this predicament.
Question: Is there a simple and standard way that I can structure the process to provide the protection I need.
Thanks
ZZZ
