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My sister is going through a complicated divore, her husband

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owns 2 limited companies, she...
my sister is going through a complicated divore, her husband owns 2 limited companies, she put in jointly 50,000 capital investment at the start of the bussiness and he took out 80,000 on another property which she jointly owns. this was also invested into the bussiness. does she have rights into a limited company from this capital investment. the land is said to be freehold can she make a claim under the materimonial clauses Act 1973. she has three children i which is disabled with down synrome. her legal advisor says she is entitled then she says she isnt. she keeps swaping rightsall the time. can she draw a wage from the bussiness and get a spousal income. he has dropped his wages from 40000 ayear to 20.ooo a year this is done intebntentionally. but there is still good net property. this companies are owned joinytly with his brother. therr is two houses properties one which my sister is living in 3 bedroomed worth 110,000 the other he is living in worth 550000. he has just dropped her child support maintaince from 850 a month to 450 amonth. intent to deprive. she is running out of money on legal costs he using his financial postion to bully her.
Submitted: 2 years ago.Category: UK Law
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Answered in 1 hour by:
6/1/2015
Solicitor: Clare, Solicitor replied 2 years ago
Clare
Clare, Solicitor
Category: UK Law
Satisfied Customers: 34,712
Experience: family solictor with 25 years experience
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Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How much are the various assets worth and how much is outstanding on the mortgages
What exactly is her solicitor saying about a settlement?
Clare
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Customer reply replied 2 years ago
hi clare,
freehold assets are said to be worth 291,000 busssiness assets, but it is a trading ltd company this could as an overall pakage be worth alot more, there is three companies that are on there land, which they recieve rents off. the limited companies are donoghue engineering teesvally engineering and donoghue property services. teevalley sales 383,626, net profit 138,953 2013/ 2015. donoghue engineering ltd sales 176,051 net profit 97,414.24 2013 2014. donoghue property services net loss 466.\there a another company called group they made aprofit of 34,874 2014 think this is connected to rents. confusing.seamer small holding worth bungalow worth 550.000 mortgage 195,000 3 bed semi worth 110,000, 60,000 mortgage.husband also has a property which is owned by him and three brothers his share 30,000he has delibratley dropped his wage from 40,000 to 20,000 to pay less maintaince
Customer reply replied 2 years ago
the solicitor said that even though it is difficult to get money out of a limited company, she said that cos my sistrr had invested cash with her husband she will beable to make a claim on the bussinessas she has investedmoney into it. she said if the bussiness land is freehold she can make a claim of half of her husbands share which is 25 percent. under the 1973 matermonial clauses act.she is now saying that she might not be able to make a claim cos its a limited company. strange.he wants the bungalow and all the bussiness, he will let her just have the 3 bed house. she hasto bring his three kids up one with down syndrome, she carnt work as its full time looking after a child with down syndrome. that bussiness and property when sold could be worth well over a million. my sister will have nothing after 20 years of marriage itsgreedy an wrong
Customer reply replied 2 years ago
he is psychologically bullying her using his postion and wealth, she carnt get legal aid and has spent 7,000 on legal fees, he spends that on motor bikes, he pleads poverty on the e 1 form, its intent to deprive the spouse and children. samantha has learning difficulties and her rights should be protected under the equality Act 2010 in provisions for her.
Customer reply replied 2 years ago
her solicior is hot an cold but i think she is good freinds with her husbands solicitor. coud there be a conflict of interest.
Customer reply replied 2 years ago
my sister needs a 4 bedroomed house for the child so they can grow up in the right enviroment, he will not mediate for a settlement, my sister is trying to obtain a litigation loan.
Solicitor: Clare, Solicitor replied 2 years ago
Hi
Is the bungalow on the business premises - or is it entirely separate?
Clare
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Customer reply replied 2 years ago
its entirely separate.
Customer reply replied 2 years ago
yes i no its a difficult question,
Solicitor: Clare, Solicitor replied 2 years ago
Hi
My apologies for the delay.
Do you have any idea what the businesses would be worth if they were sold tomorrow - and would your sister be happy living in the bungalow?
Clare
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Customer reply replied 2 years ago
its hard to have an accurate figure, i would supect 750,000 to 1000,000, she doesnt really want to move into bungalow as his brother lives next door. why. is there a chance that she could have the bungalow, it may be considered as a last resort.
Customer reply replied 2 years ago
could she claim monies from the bussiness and rental incomes as she has i believe 25 percent of the bussiness rehold through matremonial law.
Solicitor: Clare, Solicitor replied 2 years ago
Hi
How much would your sister actually need to purchase a suitable home for herself and the children?
Clare
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Customer reply replied 2 years ago
hi clare, about 260,000
Solicitor: Clare, Solicitor replied 2 years ago
Hi
How far has the divorce reached and what settlement is her solicitor suggesting?
Clare
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Customer reply replied 2 years ago
just waiting for the absolute to be signed, but her solicitor said wait until the settlement has been agreed. i suppose that makes sense . her solicitor said its difficult divorce with limited companies. she said that she could make a claim for his half of the freehold land the bussiness is on this would equate to 25 percent of the freehold. she could ask for a claim from the three companies who are paying rent from the land. she owns 50 percent of the bungaloww and 50 percent of the 3 bed terraced house. she can also have a claim of half his share in a house. she has a claim for the bussiness asset the bulding the factory unit. and machinery.
Customer reply replied 2 years ago
her solicitor is still looking at the e1 form.
Solicitor: Clare, Solicitor replied 2 years ago
Hi
Do you mean his Form E?
How experienced is her solicitor?
Clare
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