[Solved] not married can she still claim sum from me ?

The CMS are able to go after lump sums - I beleive anything over £65000 at which point they assume you are getting 8% interest on that money and use that as an income, though I could be wrong on the exact figures. It also depends on the terms of your divorce and as to whether there were any provisions in the financial order with regards to child maintenance.

so you think the CMS would take into account interest on any money I had on deposit.but not the actual deposit itself ?

but what if it was say an ornament worth a million pounds ? can i be made to sell it ?

8% interest in this day and age seems high
we were not married and there has not been any finance talks between us and she has not gone to the CMS

Hello cartmell,

I have used actd's figures as I too am not sure of the exact amount.

In this economic climate with savings rates at 0.25% to be able to realize the 8% I believe would eat into the remainder of your capital which is above the £65,000 limit.
For ease of calculation, if you have savings of £115,000, £65,000 would be untouched. The remaining £50,000 would be viewed as income and a rate of 8% charged that being £4,000. £50,000 minus £4,000 leaves you with £46,000. Whilst your savings remained above £65,000 the charge on the remainder would be annually applied and the capital depleted year after year if interest rates stay below 8%.
If interest rates were at 8% all of your capital would be untouched as you would be able to meet the demand made of you without losing any capital.

I do not know about being forced to sell a valuable ornament or the Children's Act.

I would advise seeking the opinion of a specialist solicitor in family law and possibly an accountant too.

Hi

I would advise speaking to a solicitor on this so that you definitely know where you stand.

One option would be for your parents to leave their property int trust to your children with a beneficial interest to you - this means that the property is never yours, but you get the benefit of the property while you are alive. You would definitely need to speak to a solicitor about this before you do anything,

Hello cartmell,

With the greatest of respect to actd I totally disagree with his suggestion of a Trust. I personally would not consider your parents putting their property in a Trust for your children and you having the benefit of it while you are alive.

If you lived in the property you would not be able to sell up and move if you wanted to, you could if you had sufficient assets of your own but then the property would revert back to your children and any benefit for you from the property would be lost. If you didn't live in it you could rent it out in which case a Trust is unnecessary.

If a Trust was created there are many considerations, one being who maintains the property and garden, do you live in it free of charge, etc.? Who would be the trustees, (it would be very important to get two or three people whom you trust implicitly)? Your children I expect are only young and I believe they need to be considerably older to respect the responsibility of the commitment made to you by your parents should they create a Trust.

One's life and circumstances with the passage of time change, what is applicable now when a Trust is created may not be in ten or twenty years time and a Trust can end up causing a considerable amount of trouble and heartache for those involved.

Furthermore you may own your own house already in which case you would not require your parents home to live in. There would be no need to create a Trust. You may just as well keep the property or any assets in your sole name and avoid unwanted influence from others and distribute your assets at an appropriate time of your choosing should you wish. I don't know how old you are but as I have got older I have realized there are very, very few people who are principled, loyal and have integrity, in short be wary and keep as much as you can in your control.

Addition - A financial claim on your assets from an unmarried partner is virtually nil, very different to that of a wife who can claim 50% of your assets. Having said that your Ex partner could go to the C.M.S. and open a case for child maintenance at any time which you would be responsible for paying. Added to this she could take you to court under the Children's Act for a lump sum for example, if monies were needed to buy a house for the children to have a roof over their head. The Ex would pay her own cost if you were taken to court.

As mentioned in my previous message please seek advice from a good solicitor and accountant.

The information I offer is based on my own experiences and my Son's having gone through separation and the process of gaining access to his children.

OK, with the post above, there are some very valid points - MoaF - not problem with you disagreeing with me, mine is an opinion and it's not by any means the only or best one 🙂 though I believe that if the trust is drawn up properly, you would be able to sell the house as long as the proceeds still remain in trust (possibly a new house). I would suggest that it might be worth getting some professional legal advice on the best way forwsrd. Of course, it might be worth knowing what the assets are likely to be and also speaking to the CMS to find out the exact position should it happen.

Hello actd, I quite agree, a trust must be drawn up properly and it could contain a clause as you suggest of being able to sell a house as long as the proceeds remain in trust, possibly buying a new house. I believe a trust can be tailored to the needs of the persons involved at the time.

I hold the opinion I do in that they should be avoided if possible although I acknowledge they can be useful in certain circumstances. My concern with trusts are that the power is in the hands of the trustees. Also over the passage of time circumstances change for the individuals involved and one of the two parties can end up at "war" with the other as they are at variance in what they wish do with the asset. The trustees, if they had any flexibility regarding decision making could make the wrong choice. Once a trust has been drawn up it cannot easily be dissolved, it would be on the death of the beneficiary other than that I think I am right in saying it would have to go to a court of law to be dissolved.

My only experience of trusts is as a family where previous generations have with the best intentions placed an asset in a Trust. As I have said previously what is applicable at a given time can cease to be so in the forthcoming years and they can end up "a noose round one's neck." Having said that I am not against them BUT very, very serious consideration needs to be given to All aspects when creating one.

actd ....... I am pleased we can agree to disagree on this one and that we shall not be "duelling at dawn." lol