Protecting assets from potential divorce

[hairycob]

Is the only way to do this to avoid marriage?

What's the maximum I would stand to lose - 50% of everything?
Thanks.

 

[NewEdition]

Could be more than 50% if you have house and young kids.. you may have to provide a roof over their head and financial support until they reach 18 or finish college.. Although every situation is unique I suppose.

 

[Vanessa]

Pre nupital agreements are not recognised in Ireland (yet) so even if you have some agreement the courts may or may not pay any regard to it. The Courts will always give preference to women and children.
Even if the Court makes an agreement one spouse can come back and get it changed if the other spouses financial circumstances improve.

 

[NoRegretsCoyote]

Pre nupital agreements are not recognised in Ireland (yet) so even if you have some agreement the courts may or may not pay any regard to it.

What you mean is that they are not binding.

As you say judges may give some regard to it, along with other factors.

 

[The Horseman]

Is the only way to do this to avoid marriage?

What's the maximum I would stand to lose - 50% of everything?
Thanks.

Even if you are not married your partner is your common law wife and is entitled to the same rights as if you married. If you live together for 5 yrs then same rights as if you are married.

If children involved only need to live together for 3 yrs.

My knowledge of this is a bit rusty so may have changed.

 

[elcato]

Is the only way to do this to avoid marriage?

or avoid divorce

 

[Vanessa]

What you mean is that they are not binding.

As you say judges may give some regard to it, along with other factors.

Sorry m'lud, not binding.

It is possible that a Judge could view a pre nup and come to a decision that it is a fair approach to assets. However once children are involved it will change the approach taken by a Judge.

 

[Bronte]

Is the only way to do this to avoid marriage?

What's the maximum I would stand to lose - 50% of everything?
Thanks.

Great way to start a marriage. Talking about divorce.

 

[NewEdition]

Well.. in hindsight, I wish I thought a bit more about this topic before I married.. and sunsequently divorced!!

 

[Gordon Gekko]

There are very few people I’ve met who should be worried about a spouse taking their money.

It’s not that some of them don’t have a lot of money; it’s that both have worked together in the trenches to grow the family’s income. So the concept of “his” and “hers” is archaic to say the least.

 

[NewEdition]

There are very few people I’ve met who should be worried about a spouse taking their money.

It’s not that some of them don’t have a lot of money; it’s that both have worked together in the trenches to grow the family’s income. So the concept of “his” and “hers” is archaic to say the least.

Yes.. If they both meet and marry with equal assets. If one has more wealth prior to meeting the other, if they then divorce, the the whole pot is split which is not right.

 

[twofor1]

For better, for worse, for richer, for poorer……

Is that all gone now ?

 

[Gordon Gekko]

Yes.. If they both meet and marry with equal assets. If one has more wealth prior to meeting the other, if they then divorce, the the whole pot is split which is not right.

And what I’m saying is that it happens far less than people think.

What is more common is where a party’s parents have material wealth and they use trusts to protect family wealth from passing to the scarlet woman or cad.

 

[Purple]

There are very few people I’ve met who should be worried about a spouse taking their money.

It’s not that some of them don’t have a lot of money; it’s that both have worked together in the trenches to grow the family’s income. So the concept of “his” and “hers” is archaic to say the least.

That's certainly the way it should be.

 

[Purple]

The Courts will always give preference to women and children.

Indeed, even when the children spend more time with their father.