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Prenups- yay or nay watch

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    (Original post by 999tigger)
    Kind of , but the court has exrensive powers to take all property into consideration.
    But i thought the point was that any property doesn't belong to you, only the trust, and is treated as separate property. Ik that;s simplistic, but for example if the trust is completely discretionary and established by the parents (as is the likely case in marriages since people tend to be young) then it can't be touched, right?
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    (Original post by UTG8)
    But i thought the point was that any property doesn't belong to you, but the trust and is treated as separate property. (Obviously simplified) And also if the trust is completely discretionary and established by parents for ex/ (as is the likely case in marriages since people tend to be young) then it can't be touched, right?
    Courts will consider and decide what benefit you get from the trust and how to consider it.

    The types of orders a court can make depend on what type of trust is in question.
    Sometimes the court’s powers are very limited. If the interest is not immediately available, and if no distributions have been made by way of income or capital, then there may be little impact on the financial settlement.

    Alternatively, if one of you has been receiving income and/or capital on a regular basis, then the courts are more likely to look at this as a financial resource – and one that can be relied on as continuing in the future.

    If the trust is “nuptial”, then the courts have much wider powers.
    One of the biggest assets is normally the house, so they could just alter the share of the procees o take one parties benefit from a trust into acccount.

    Thats all a bit off topic, which is pre nups, if updated and not unfair will be upheld by the courts.
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    (Original post by Nile.)
    Lol good luck

    Posted from TSR Mobile
    The older you get the less money is that important to you. I've been married 15 years and am not far off being a millionaire. If my wife wanted out I'd hapilly give her half. In fact, I'd not worry too much if I was left with 10% of it. I'd either (a) just make it again or (b) not bother - go and live somewhere like Guatemala on pennies doing sweet FA all day.

    Money isn't that important. Nice to have but I spent years living in 1 bedroom bedsits and cheap motels. I can handle it pretty well.
 
 
 
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