Finance Settlement Urgent help needed desperately!!!!111!!1!!1!!!!

Basically my mum and dad are fighting for the company and house.

If the house is sold then half the problems will be solved. My dad refuses because he wants something to be made out of it rather than making a loss. You MUST CUT YOUR LOSSES is a good phrase to be followed. He still refuses he's not letting go of the house.

If my mum lets my dad have the company and house then my dad becomes rich because all the properties in my mums name will be generating rent for my dad and not for my mum.

Another problem is that the money in the pot is almost all my mums and although the divorce isn't a problem my dad wants all the money for himself.

The situation is that right now the house mortgage still needs to be paid off and my mum will be paying that.

A few examples of my dad being a huge ****. He won't let go of anything, since they can't agree on anything my dad is using all the money in his bank account and when that runs out he''ll take my mums money because it's in the pot and "shared" between them. Essentially stealing off my mum legally.

Another example is that because court will be a minimum of 10k for my mum and 10k for my dad that money will come out of the pot, thus my mum loses 20k again because she's paying for it and she'll gain barely anything for it.

The solution is to have a "base race" my mum needs to spend her 61k first before my dad can spend his 18k and starts legally stealing my mums money. What can we spend her 61k on?

There's one way to win it and my dad has more equity in his properties than my mum does so my dad has to give my mum some money be it in whatever form. SO if we win this base race we win a good battle and almost win the war.

We must spend the 61k on expendable meaningful things. Stuff such as rent and school fees. Essentially we can assume my dad will spend his 18k in 1 years time until he starts taking my mums money so what can we spend this 61k on?

Please if anyone can suggest a better method please do. I'll answer any other alternatives you think may work but i really need help otherwise my dad will run my family into the ground and there's nothing we can do about it because my mum loses most of the time.

My mum lives in london with her brother and is paying him ent but only so much can go to the guy, my dad has 2 properties and my mum has 3 my dad has no tenants inn his but my mums properties are all filled.

(edited 7 years ago)

Reply 1

AmeliaLost

You wouldn't necessarily need to spend it on expendables - she could buy a small studio flat cash with that sort of money and put in trust in your name. As far as I'm aware it would then effectively be considered your property then and wouldn't be considered in any divorce settlements.

Also the sad truth is that your mother would be favoured by the courts usually assuming you're a minor (under 18) and intend to live with her, so she's likely to not lose everything.

Really she should get a lawyer to go through this all with though x

Reply 2

Reality Check

You seem to have an usually in-depth knowledge of your parents' finances.

Reply 3

will'o'wisp

Original post by AmeliaLost

Really? Is it similar to say, opening a trust fund for me and my brother? If so she told me the bank told her that she can't do that.

No fam that's good i want my mum to be favoured, all my dad is, is a lying mofo who has no shame and just tries to scam my mum out of any money she has left.

She's been through it with a solicitor but my dad refuses to agree to anything :/

Original post by Reality Check

You seem to have an usually in-depth knowledge of your parents' finances.

???? I don't quite understand?

Rich? No fam, i would never call our family rich ever, this is all the money we have left, if this keeps going we'll go bankrupt in a little more than a year, i certainly couldn't say rich.

Reply 4

999tigger

I dont think the situation is clear from what youve posted.
What does your lawyer say?

Reply 5

will'o'wisp

Original post by 999tigger

I dont think the situation is clear from what youve posted.
What does your lawyer say?

Ok more clarification that's ok ^-^

My mum has a solicitor and said that everything should be split 50/50 so basically
Dad - 45k cash 83k equity(in properties)
Mum- 61k cash 35k equity

add it all and split this way my dad loses because he has more equity in properties but he's spending all his money and when his debts can't be covered he'll dip his hand into my mums money and steals legally off my mum. To make matters work the court of law doesn't care what's moral because the money is in the pot so it should be used to cover whatever debts they both have and since my mums money makes most of the pot, as soon as my dad finishes using his money my mums will be used.

Reply 6

999tigger

Original post by will'o'wisp

And what does your lawyer say anout your father intentionally diminishing funds?
Have you asked if theres any way to freeze assets?

Are there any children under 18 or in FT education?

Ultilmately if they cant agree, then they will have to go to court and the judge can decide.

Reply 7

will'o'wisp

Original post by 999tigger

Technically he is but isn't because he's using it to build up his empty properties and spending it on keeping the house when selling the house imma living in rn will solve about 50% of the money problems, or even splitting 50/50 will stop my mum paying for a house she doesn't live in 90% of the time. The hidden intention is there but it doesn't matter if he's wrong in every way he'll get what he wants and rn waiting things ou and not answering my mum is benefiting him.

No there's no good reaosn unless my mum dies to freeze assets so nope unfortunately :/

My brother and I are both under 18, i will be 18 soon next year but i will also want to go to uni

There's no point in going to court, here's the reason why, see if you go to court you might have to wait some time and even then you gotta pay lots to go to court, who's paying for it all? My mum will be, when the time comes to january my dad will have probably spent the majority of his money in which case he'll get my mums. So basically my mum is paying with her money to fight for her money. derp. By then it'll be too late, my mum will have already been stolen off and there's nothing we can do.

It's basically between a rock and a hard place(yes the cliché) because it's not worth going to court because it'll be too late by the time it happens but if we do go to court then the gain is minimal for both parties, they both get almost nothing.

Reply 8

999tigger

If you have ruled out any legal redress hen you have decided to sort it out between yourselves. There are no rules.
Simply take the money and hide it or spend as you see fit.
Ofc you will never reach a financial settlement and there will never be a divorce, just more hate between your parents..

Reply 9

will'o'wisp

Original post by 999tigger

How do you take 61k from the bank with a valid reason to do so?

Reply 10

will'o'wisp

Because my dad got them and they're legally split between my mum and dad each having 3 but my dad sold one of his.

Yes he can because it's family money and thus both the money they have are able to e used by each other.
My mum has filed for divorce the problem is the finance settlement which is kinda like a last step if you will.

The problem like i said with going to court is that it costs a lot and you might have to wait some time for it. And after all that it's not worth fighting for what little money is left. By then all my mums money will be gone because my dad will have used it for repayments on the house, a house which my mum isn't even living in.

Reply 11

will'o'wisp

Not the divorce the "last step" i.e how to split the money between the parents, right now the money hasn't been split, the longer it's not split my mum loses and the more time goes on the likelier my dad is gonna legally steal my mums money