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Unread 1 May 2008, 01:32   #26
Ultimate Newbie
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Join Date: Mar 2001
Location: Perth, Western Australia
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Re: Child poverty in the UK

Quote:
Originally Posted by Yahwe
Other than showing you up as an utterly ghastly human being this statement raises the question of why you are buying property outside your own country rather than in it.
Right, after a quick bit of research turns out my statement is wrong. But, the expensiveness of Perth is on par with London, so its still not inconsiderable.

Quote:
Originally Posted by You Are Gay
I've actually think about stuff like this quite regularly. I have one question (well lots but one key question), say you're trying to dodge the whole "splitting your assests at divorce time" kind of vibe then how does having your assests in a corporation stop you from having to split them? You must have some kind of ownership of the corporation (shares or whatever, even if it is all of the shares) so i would think that your (now ex) partner's lawyer would go after them.
Well, i'm not a lawyer so i'm very hesitant to express my opinion. Further, i've done very little reading about what happens during a divorce, because its depressing and because i'm presently single and not thinking about marriage at all atm.

However, to the extent of my understanding, it depends entirely on how you would structure your corporation. If the sole legal owner and shareholder was you, then you're in a commanding position. If you, personally, lived off your wife's income or she somehow or other supported you financially, then its possible that she might be entitled for compensation in that regard. If you have children, and you are not the primary caregiver, then its possible that you will be required to arrange for the provision of your children (particularly education), however that's much more contestable (though, why would you??). If your wife was a co-owner of the company, then its all hers too. If she made contributions to the funds of the corporation, then that also opens the door (at least, her lawyer would argue that she is a creditor or somesuch).

But seriously, if you're concerned about this go seek legal advice.

The point is, having a corporation which is legally distinct from you means that its probable that much more of "your" assets would not be "lost" to your spouse should you divorce, than if you personally actually owned them.
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