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gifts transferred between petition and decree abso

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31 Oct 09 #158801 by pp956
Topic started by pp956
My Decree Nisi was granted 2 months ago. I have gifted some assets to my son in the last 6 weeks.
If me and my wife can't agree the financial settlement and have to go to court, will the judge include these gifts in the financial pot?

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31 Oct 09 #158809 by dukey
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Its not easy to answer without more information length of marriage children ect,

But if you do end up in court and cannot agree and it goes to a judge to decide they can adjust a settlement from what it would have been if they believe one party deliberately disputed marital assets in order reach a better settlement.

As a general rule you cannot give away marital assets to prevent them being shared with a spouse.

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31 Oct 09 #158810 by Elle
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Under s37 Matrimonial Causes Act 1973 the courts have powers to set aside the disposal of assets if the disposal reduces a spouse's claim to financial provision.

Elle x

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31 Oct 09 #158827 by pp956
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Thanks a lot for your quick response.

I have been married for the last 32 years and the gifts I transferred to my son are the assets which were acuired during this marriage.

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31 Oct 09 #158828 by Elle
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pp,

These are maritl assets and therefore should be thrown in the marital pot for consideration.

Elle x

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31 Oct 09 #158830 by dukey
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If you have passed on your father's wedding ring no problem if it was a 1000 preferential shares in Volvo then it is a problem, it depends what you mean by gift.

As Elle says after a long marriage like yours all assets are marital and go in the pot.

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01 Nov 09 #158895 by pp956
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Let me clarify my situation again.
I have been married for the last 32 years and have three children, the youngest being 22. We were granted decree Nisi about two months ago. I have transferred 60% of the assets( property, stocks and shares and cash) to my sons since last three months.We intend to apply for Decree Absolute, leaving the financial matter for the time being because property market is not favourable and the stock value of the stocks I have transferred is far less than the original cost. We hope to settle the financial matters in the next 2- 3 years.
My question is that if after 2-3 years, we can't agree on the financial settlement, and the matter goes to the court, Would the court count the assets I tansferred to my sons as the matrimonial pot and these assets will be taken into consideration when the final order is made?
Thanks

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