{"id":785,"date":"2017-11-07T16:30:35","date_gmt":"2017-11-07T16:30:35","guid":{"rendered":"http:\/\/www.just-family-law.com\/blog\/?p=785"},"modified":"2020-05-12T14:15:07","modified_gmt":"2020-05-12T14:15:07","slug":"ring-fence-protect-assets-on-divorce","status":"publish","type":"post","link":"https:\/\/www.just-family-law.com\/blog\/index.php\/2017\/11\/07\/ring-fence-protect-assets-on-divorce\/","title":{"rendered":"Ring fence and protect assets on divorce"},"content":{"rendered":"<figure id=\"attachment_1371\" aria-describedby=\"caption-attachment-1371\" style=\"width: 534px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2017\/11\/Ring-Fence-and-Protect-Assets-On-Divorce-1.jpg\"><img data-attachment-id=\"1371\" data-permalink=\"https:\/\/www.just-family-law.com\/blog\/index.php\/2017\/11\/07\/ring-fence-protect-assets-on-divorce\/ring-fence-and-protect-assets-on-divorce-2\/\" data-orig-file=\"https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2017\/11\/Ring-Fence-and-Protect-Assets-On-Divorce-1.jpg\" data-orig-size=\"534,400\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Ring Fence and Protect Assets On Divorce\" data-image-description=\"&lt;p&gt;Ring Fence and Protect Assets On Divorce&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2017\/11\/Ring-Fence-and-Protect-Assets-On-Divorce-1-300x225.jpg\" data-large-file=\"https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2017\/11\/Ring-Fence-and-Protect-Assets-On-Divorce-1.jpg\" decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-1371\" src=\"https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2017\/11\/Ring-Fence-and-Protect-Assets-On-Divorce-1.jpg\" alt=\"Ring Fence and Protect Assets On Divorce\" width=\"534\" height=\"400\" srcset=\"https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2017\/11\/Ring-Fence-and-Protect-Assets-On-Divorce-1.jpg 534w, https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2017\/11\/Ring-Fence-and-Protect-Assets-On-Divorce-1-300x225.jpg 300w\" sizes=\"(max-width: 534px) 100vw, 534px\" \/><\/a><figcaption id=\"caption-attachment-1371\" class=\"wp-caption-text\">Ring Fence and Protect Assets On Divorce<\/figcaption><\/figure>\n<p>Is it possible to ring fence and protect assets on\u00a0divorce? The answer is, yes, sometimes. But this is a complex area: if you are at all unsure, please take advice from an\u00a0<em><a href=\"https:\/\/www.just-family-law.com\/\" target=\"_blank\">expert family lawyer<\/a>.\u00a0<\/em>In this blog I consider the following questions:<\/p>\n<ul>\n<li>matrimonial or a non matrimonial asset<\/li>\n<li>can I protect my\u00a0inheritance<\/li>\n<li>can I ring fence my business<\/li>\n<li>shall I transfer my\u00a0assets to someone else<\/li>\n<li>how are assets split on divorce<\/li>\n<li>what&#8217;s the best way to\u00a0ring fence and protect assets on divorce?<\/li>\n<\/ul>\n<h3><strong>Let&#8217;s start with an example<span style=\"color: #333399;\">\u00a0&#8230;<\/span><\/strong><\/h3>\n<p><span style=\"color: #008080;\"><em>I have a friend who\u2019s a magician.\u00a0Her husband wants a divorce and furthermore he wants half of everything, including\u00a0her magic cabinet.<\/em><\/span><\/p>\n<h3><strong>Is it a matrimonial or a non matrimonial asset?<\/strong><\/h3>\n<p>Non matrimonial assets can sometimes be kept out of the pot for division. They can include:<\/p>\n<ul>\n<li>assets built up before the marriage<\/li>\n<li>inheritances<\/li>\n<li>businesses<\/li>\n<\/ul>\n<p>But if there aren\u2019t enough matrimonial assets left to fulfil her husband\u2019s needs &#8211; for example for housing &#8211; non matrimonial assets can be used to plug the gap.<\/p>\n<h3><strong>Is it possible to ring fence and protect inheritances?<\/strong><\/h3>\n<p><span style=\"color: #008080;\"><em>My friend is particularly fond of\u00a0her magic cabinet as her grandfather left it to her in his will.\u00a0<\/em><\/span><\/p>\n<p>Timing is important. Was the inheritance received before or during the marriage, or as the couple separated? And what happened to the inheritance in the meantime.\u00a0Did they mix it with their matrimonial assets? Did they keep it separate?<\/p>\n<h3><strong>Can a business be ring fenced?<\/strong><\/h3>\n<p>I advise my friend that her husband might make a claim over her business &#8211; if it has any value.<\/p>\n<p><span style=\"color: #008080;\"><em>She laughs. She tells me her assets comprise trick cards and a white rabbit. As for income: she does it all for charity. My friend and her husband live off their wages from their respective jobs.\u00a0<\/em><\/span><\/p>\n<p>What if\u00a0her business\u00a0had valuable assets and an income?\u00a0See my blog\u00a0<em><a href=\"https:\/\/www.just-family-law.com\/blog\/index.php\/2017\/10\/04\/how-to-protect-business-on-divorce\/\" target=\"_blank\">How to protect business on divorce<\/a>.\u00a0<\/em><\/p>\n<h3><strong>How about transferring assets to someone else?<\/strong><\/h3>\n<p><span style=\"color: #008080;\"><em>My friend has a savings account and some shares. She&#8217;s thinking of transferring them to her sister<\/em>.<\/span><\/p>\n<p>She risks\u00a0the Court freezing her assets and imposing a costs order.\u00a0If she hides her assets she could go to prison\u00a0for contempt of court. Both she and her husband must give full and frank disclosure of their finances. See my blog\u00a0<em><a href=\"https:\/\/www.just-family-law.com\/blog\/index.php\/2017\/07\/17\/financial-disclosure-on-divorce\/\" target=\"_blank\">Financial disclosure on divorce &#8211; 10 things you need to know<\/a>.<\/em><\/p>\n<h3><strong>How are assets split on divorce?<\/strong><\/h3>\n<p><span style=\"color: #008080;\"><em>What\u00a0will happen to their house, their savings and pensions?<\/em><\/span><\/p>\n<p>I advise her the starting point for division is a fifty fifty split although there are special considerations. These include the care of children, the extent of the couple\u2019s wages and their earning capacity. Also their standard of living during the marriage, and their ages. The length of the marriage is important, too. As is their health. Lastly what the couple put into the marriage financially, and their individual financial needs.<\/p>\n<h3><strong>What&#8217;s the best way to ring fence and protect assets on divorce?<\/strong><\/h3>\n<p><span style=\"color: #008080;\"><em>The good news is she has met someone new, a fellow magician. It\u2019s early days, and she wants to get her divorce sorted out first, but who knows, this could be the real thing.<\/em><\/span><\/p>\n<p>I advise her if they decide to tie the knot, she ought to think about a\u00a0<em><a href=\"https:\/\/www.just-family-law.com\/what-we-do\/relationship-agreements\" target=\"_blank\" rel=\"nofollow noopener\">prenuptial agreement<\/a><\/em>. She says she will certainly keep this idea up her billowy sleeve along with her magic cards and scarves.<\/p>\n<p>Contact\u00a0 Joanne Houston on 01962 217640 for\u00a0<strong>free<\/strong>\u00a0<strong>advice<\/strong>\u00a0on ring fencing and protecting your assets on divorce. In this 20 minute session we will review your matrimonial financial situation and how you can achieve your objectives.<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<blockquote><p><a href=\"https:\/\/www.just-family-law.com\/about-us\" target=\"_blank\">JUST FAMILY LAW<\/a>\u00a0are specialist divorce and family law solicitors offering\u00a0<a href=\"https:\/\/www.just-family-law.com\/blog\/index.php\/2017\/06\/02\/pay-as-you-go-divorce-family-law-costs\/\" target=\"_blank\">personalised legal solutions<\/a>.\u00a0We offer\u00a0<a href=\"https:\/\/www.just-family-law.com\/blog\/index.php\/2017\/11\/29\/collaborative-law-uk\/\" target=\"_blank\">collaborative law<\/a>\u00a0which is especially relevant in providing\u00a0solutions tailored to your family\u2019s needs. This includes same sex couples and their families. Visit our website\u00a0<a href=\"https:\/\/www.just-family-law.com\/\" target=\"_blank\">just-family-law.com<\/a>\u00a0The topics covered in this blog post are complex and are provided for general guidance only. Therefore if any of the circumstances mentioned in this blog have application to you, seek expert legal advice.<\/p><\/blockquote>\n<p>image credit: Ung\u00e1r Anik\u00f3 b\u0171v\u00e9sz by Fortepan\/Urb\u00e1n Tam\u00e1s on\u00a0<a href=\"https:\/\/commons.wikimedia.org\/wiki\/File:Ung%C3%A1r_Anik%C3%B3_b%C5%B1v%C3%A9sz._Fortepan_88792.jpg\" target=\"_blank\" rel=\"nofollow noopener\">Wikimedia Commons<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Is it possible to ring fence and protect assets on\u00a0divorce? The answer is, yes, sometimes. But this is a complex area: if you are at all unsure, please take advice from an\u00a0expert family lawyer.\u00a0In this blog I consider the following questions: matrimonial or a non matrimonial asset can I protect my\u00a0inheritance can I ring fence [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[582],"tags":[80,90,221,237,236,238],"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/785"}],"collection":[{"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=785"}],"version-history":[{"count":73,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/785\/revisions"}],"predecessor-version":[{"id":4578,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/785\/revisions\/4578"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/media\/1371"}],"wp:attachment":[{"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}