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Premarital Assets (Solved)

Posted by GreatestExpression 
Premarital Assets (Solved)
July 15, 2019 08:17PM
Before we married, I was fortunate to have a substantial sum of cash I that had earned myself. Once married, my house was sold, and I paid cash for our new home. I also used some of the remaining cash to buy a flat to rent out, which I gifted to my wife because she was not using her personal tax allowance.

No we are looking to divide the assets, she is looking for half of everything. I'm wondering if that is fair, was the cash used to buy the house and flat pre-marital or did it somehow become marital assets.

One view is that if she has enough assets to ensure the needs of the children are looked after (we have them roughly half each) and that she doesn't suffer a lack in circumstances, then that would be enough?

Many thanks for any most generous thoughts or advice.



Edited 1 time(s). Last edit at 07/16/2019 06:10PM by GreatestExpression.
Re: Premarital Assets
July 16, 2019 10:10AM
You do not say how long you have been married, how many children there are and how old they are. And, of course, roughly how much you earn compared to your wife.

I suspect that you attach too much weight to so called 'pre-marital assets' in your particular circumstances. There is a world of difference between

A. The case of a marriage which lasts for a year, both parties earn about the same, there are no children and one spouse came into the marriage with substantial capital.

B. A marriage which has lasted for ten years, where one spouse earns much more than the other, there are three dependent children and the spouse who earns more brought substantial capital to the marriage.

In the case of A significance is likely to be attached to the fact that the capital was premarital. In the case of B it is very unlikely that it would have any significance.
Re: Premarital Assets (Solved)
July 16, 2019 06:12PM
Many thanks for your very much enlightening response, it was very useful.
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