[busipaln]

Sorry to bore you guys with this. Slightly off topic, but maybe someone who knows a bit more about law, or has been through a similar situation can help me.

I am currently going through a divorce. I am in the final stages (Decree Nisi has been granted). Problem is, ex darn wife wants to make a claim for some cash, and i may have to declare my assets.

Hence when this happens i may be the pround new owner of an S5, and i dont want her getting her hands on this.

Question i want to ask is should i delay my purchase? we could be talking a few months here - when im only days away from purchasing!

Or is there a brighter solution.

 

[gtlexec]

Patience....

Busiplan...

I cannot speak for the laws in the UK, however here in the US (based upon a few friends that have gone through a divorce), you do NOT want to be making any large purchases of any kind before your divorce is final.

Best of luck to you and patience may be your best virtue here.

GTL

 

[busipaln]

Thanks gtlexec. I'm hoping she cant take me to the cleaners, as we have only been married 3 years and have no kids. Im 28, and she is 25. The problem is, I was pretty much going to buy the car all cash. One way or the other, If i have to disclose my financial situation, they will either see the cash kept aside in the account or a new car as an asset.

Another way round would be to put the car under my fathers name possibly? and then get it transfered once the divorce is final. Of course i can find plenty of ways to gift my father the money for this car....

 

[nicko916]

Thanks gtlexec. I'm hoping she cant take me to the cleaners, as we have only been married 3 years and have no kids. Im 28, and she is 25. The problem is, I was pretty much going to buy the car all cash. One way or the other, If i have to disclose my financial situation, they will either see the cash kept aside in the account or a new car as an asset.

Another way round would be to put the car under my fathers name possibly? and then get it transfered once the divorce is final. Of course i can find plenty of ways to gift my father the money for this car....

If you really want the car, have your father purchase the vehicle for you. That's the best way to have the car, drive it, and not have a legal tie financially to the vehicle.

 

[ckeck]

If you really want the car, have your father purchase the vehicle for you. That's the best way to have the car, drive it, and not have a legal tie financially to the vehicle.

I second this...and you won't have to wait either! Better let your dad take it for a ride now and then though

 

[busipaln]

Normally I would be able to hold off, but i just sold my own car last week, as i was going to buy the S5. Hence i cannot really be without a car for 2 months, as i use the car to get to work.

I think im going to follow my own advice on this one and put the car under my fathers name. I had a look at insurance, and it actually comes down a little with both our names on there

Most important factor, i can sleep at night knowing my new baby is safe... and she's not getting her dirty paws on it.

 

[Rab88]

Surely the only assets that should be declared are assets bought for by yourself and wife TOGETHER. If you've made a purchase after separation, and you show that it was funded by your own income (entirely independant from you wife's), then it shouldnt be part of the settlement figure decided by the court.

Ideally you should have set up a new bank account upon separation, and taken any payments towards the car from that, in order to show that payments towards the car were from yourself, rather than a joint account.

Depending on when you separated, you might find she'll claim half of your previous car, rather than your new car. (hopefully it would be half of the trade-in value/resalve value, rather than the new value, if she got use out of the car - in that case, both parties should share depreciation).

 

[busipaln]

Cheers for the info Rab88.

I have booked an appointment with my solicitor today. I'm hoping he can advice me accordingly. As soon as he gives me the green light, I will go for it.

I was thinking along the same lines as you, but want to make sure its fullproof before i go ahead. Hopefully i will get confirmation of that today.

 

[robb]

Shes going to want you back if she see you driving it. Hope all goes well for you.

 

[busipaln]

lol @robb... I split up with her - shes already tried to patch things up, but now im young, Single and hopefully will be driving an S5 in a week.. Im sure i can fill that passenger seat

 

[jenbutmad]

busiplan i go with the father option at least if you get a speeding ticket you can say "officer it was not me this car belongs to my father "

 

[Mack Buffet]

Your solicitor will clarify it but I would imagine the question here is not on what format your assets are, but on what basis she has a claim to any of it. A 40 grand car on your drive or 40 grand in your bank i would have thought would be a moot point as far as a valuation went, other than you could maybe argue depreciation on the car so write down the value.

Does she have her own assets, income etc ? At 25 with no kids she can hardly claim to be reliant on you.

Not sure putting it your Dad's name will avoid the issue as if she does have a legitimate claim, you will have to produce a statement of assets and her solicitor will I imagine ask where that £40k has suddenly vanished to. If you give it to your Dad not sure if that solves the problem or it could be clawed back as a blatant attempt to frustrate the court.

One things for sure though, harder to split an S5 in half than a bank account, and they have to catch you first !

 

[busipaln]

Thank for the advice guys. After speaking with my solicitor, he stated that anything i purchase after we had seperated does not really count, however it may not look good in court if I have purcashed at 50K car, so he suggests i wait till its all over. Well.... ive already been waiting over 6 months for this to be over when i was told it should take approx 3-4 months... so hell if im waiting any longer!

Im going to go on the father route... Insurance works out a little cheaper, and its guranteed she cant touch it. Solicitor also gave the thumbs up to this idea.

 

[jenbutmad]

Thank for the advice guys. After speaking with my solicitor, he stated that anything i purchase after we had seperated does not really count, however it may not look good in court if I have purcashed at 50K car, so he suggests i wait till its all over. Well.... ive already been waiting over 6 months for this to be over when i was told it should take approx 3-4 months... so hell if im waiting any longer!

Im going to go on the father route... Insurance works out a little cheaper, and its guranteed she cant touch it. Solicitor also gave the thumbs up to this idea.

fab news member to get the pics up

 

[busipaln]

Will do, hopefully this weekend. I have kept it a bit of a suprise... but is a limited edition colour. Only 10 in UK - So the dealer says....

 

[gtlexec]

Unique Color?

Busipaln -

What unique color did you choose for your S5?

I'm also looking on going outside the standard Audi color palette.

GTL

 

[busipaln]

I managed to find a fantastic grey. Its Called Northen Lights Grey. It looks similar to the daytona grey, metalic with a pearl effect.

Really superb. I will shoot some pics for you this weekend if it comes through

 

[jenbutmad]

I managed to find a fantastic grey. Its Called Northen Lights Grey. It looks similar to the daytona grey, metalic with a pearl effect.

Really superb. I will shoot some pics for you this weekend if it comes through

Ohhh looking forward to seeing this grey better not be better than mine

 

[busipaln]

I changed my mind on this colour... Even though spec of the car was great, I chose the Meteor Grey, as the car pretty much had a full spec including the 20" rims...

I feel sad about loosing out on the colour, but i feel good sitting on 20's

 

[ckeck]

Oh, and if you have all the advice you need, ask a moderator to delete this post