Bad Form ?

[Kiwi XTR2]

So what's the form guide, should cars be listed in a pre-nuptial agreement?

I would have thought that only [b]VERY[/b] special cars with particular sentimental value would be specifically listed. Otherwise isn't a car just an asset (or a liability :hehe:) with a dollar value ?

[small]Maybe Pistonheads is not the place to ask this question[/small]

[htsd]

If your company that is owned by your family trust is the owner of the car you're in the clear . However I imagine that you'd simply be able to pay out half the agreed value of the car in cash to your ex-significant other upon his/her departure. My old man kept his car when my parents split.

But we all hope that this situation remains hypothetical and doesn't ever arise, don't we!

[Esprit]

htsd said:

If your company that is owned by your family trust is the owner of the car you're in the clear . However I imagine that you'd simply be able to pay out half the agreed value of the car in cash to your ex-significant other upon his/her departure. My old man kept his car when my parents split. But we all hope that this situation remains hypothetical and doesn't ever arise, don't we!

Incorrect... if your patrner WANTS the car, they're entitled to claim on it... basically if your missus splits with you and wants to be a cow she (or he) can be bloody-minded and go for the things that you care for the most..... Before the split just "sell" the car to a mate for a token sum ($10) then buy it back off him when the heat's settled down .... make sure it's a mate you trust though

[dejoux]

Not quite correct. If the assets are in a family trust which you are the benificiary of and you wife isnt if you split up she will have no claim on them as the trust is a separate legal entity.

However your wife may say you have $x in the family trust so I want 1/2 of your assets plus 1/2 the value of your share of the trust. All paid out of your personal assets, leaving you with nothing.

Women, who'd have them

[Esprit]

I plan on breaking up with my girlfriend every two years for one day and starting the relationship over again so that she has no "de-facto" claim on my cars

[htsd]

dejoux said:

However your wife may say you have $x in the family trust so I want 1/2 of your assets plus 1/2 the value of your share of the trust. All paid out of your personal assets, leaving you with nothing.

This also is not quite true. If you have a trust you are named as a beneficiary of that trust along with (most likely) your kids and potentially your wife as well. At most, she can claim your share of what you receive from the trust and if it is well set up thats nothing. Either that or purely name your kids as the beneficiaries then she gets nothing but whatever you were silly enough to leave in your own name. Nice eh?

[dejoux]

Yeah thats what im saying too.

However that dont stop her saying you have this family trust and I have nothing therefore I wont include that but I want 96% of your other assets.

Sure its not very just but isnt that usually the way when a marriage breaks up

A divorce settlement is just a way of splitting your assets equally between your wife and your lawyer

[htsd]

So long as the assets are wholly owned by the trust she can't touch them and there is no way for her to be compensated by taking a larger share of your current assets. Where you run into issues is when she has no income of her own and the court orders you to pay her enough money 'to keep her in the fashion to which she is accustomed'. Then you're paying through the nose forever. At least you'll be able to keep the car, maybe not quite afford to drive it...