Civil

Out of his depth

My husband and I are about to separate and are both buying new properties but he's decided to buy two run down flats with a view to renovation and letting them. My concern is that he hasn't thought it through and will struggle financially as he's self employed and work is not as busy as it has been. My question is, what would my position be if in the worst case scenario he declared himself bankrupt. Could anyone make a claim on me as our separation is a mutual arrangement rather than through legal channels. Should I be doing something to safeguard my assets or am I ok if my new house is solely in my name?

medsecslave Wed 21/05/08 20:58

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sammy snake
Wed 21/05/08
22:41

If everything is in your sole name , as it should be if you have separated, then it is nothing to do with you and any future bankruptcy will not affect you in any way.

medsecslave
Fri 23/05/08
18:09

Question Author

Thanks SS.

joxville
Sun 25/05/08
00:02

You really should get a separation agreement written up by a lawyer, clearly setting out who gets what and that you forfeit the right to claim on the others future wealth. My ex-wife and I split up amicably but still had an agreement written out legally before divorcing, saved us a lot of hassle and stress when we did divorce.

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