Conflicting viewpoints

[BangkokTony]

My wife and I have been discussing the financial affairs upon our divorce. We are both living in Thailand

I had 17,000GBP already saved on our marriage day. I have a flat in my name in UK, say, worth 120,000 GBP. She says I can keep the 17k upon sale of the flat. She works it out one way, I work it out another way.

1...120,000 less 17,000 =103,000 / 2 = 51,500...therefore I get 68,500GBP

2..120,000 /2 = 60,000 each, then she gives me the 17,000 personal money saved.. I would get 77,000GBP

What do forum members think?

[David48]

Did you own the Flat before you got Married?

[BangkokTony]

I applied under the Right to Buy about January 2001...married September 10 2001 and the house was in my name as of December 5 2001.

However it is only the mathematics that we cannot agree on. I am giving 50% less the amount that I had already saved upon marriage.

If we can agree on this point we can go ahead with the divorce.

[steve187]

is the flat paid for if so who paid for it.

[BangkokTony]

Extra info, but all I really need is the mathematics dealt with. She has agreed to waive any future payments to her and the children. I am not working and doubt I ever will; I am less than 2 years away from retirement. I will have no income in 3 months time.

We are willing to split legal costs 50/50

Regarding payment for the flat ....We took out a 10,000GBP mortgage so with my savings and the loan, we purchased the flat whilst married in December 2001. My wife started work shortly after and contributed to the family income. The mortgage was finished after about 4 years, we paid early.

Edited December 24, 2014 by BangkokTony

[lannarebirth]

Extra info, but all I really need is the mathematics dealt with. She has agreed to waive any future payments to her and the children. I am not working and doubt I ever will; I am less than 2 years away from retirement. I will have no income in 3 months time.

We are willing to split legal costs 50/50

Regarding payment for the flat ....We took out a 10,000GBP mortgage so with my savings and the loan, we purchased the flat whilst married in December 2001. My wife started work shortly after and contributed to the family income. The mortgage was finished after about 4 years, we paid early.

This one is the correct accounting:

1...120,000 less 17,000 =103,000 / 2 = 51,500...therefore I get 68,500GBP

If entire proceeds from sale are only 120k GBP and debt service (to yourself) is to be paid, net proceeds are only 103k GBP. Divided equally that 51.5k GBP each. You are forgetting that part of that 17k GBP you owe to yourself allowing for your capital gain.

As an aside, what kind of flat and in what municipality does one purchase a flat for 27k GBP's?

Edited December 24, 2014 by lannarebirth

[BangkokTony]

...even though I had saved the money, 17k, prior to our marriage and my wife says I am due that money?

[lannarebirth]

...even though I had saved the money, 17k, prior to our marriage and my wife says I am due that money?

She is paying back half that money to you as she only realized half the gain. Would you prefer she pay it all back and realize the whole gain? You could always chaarge her a loan fee and interest but that could throw a spanner in your otherwise amicable divorce.

[BangkokTony]

I want to put the limping dog out of its misery (aka my marriage) so I will accept your answer. Thanks

[monkeycountry]

Yes option 1 is correct. Option 2 means she effectively gives you 17k of her money which does not seem fair as I assume you have spent the 17k together, hence you should also pay it back (to you) together (half each).

Since you paying yourself back will not gain you anything, you will only get the half that your ex pays you of her money (8,500k)

You will end up 17k richer than her, just as you were when you met (not including the property as I do not know who paid for that)

[Berkshire]

She has agreed to waive any future payments to her and the children.

So the children are not yours?

[ozyjon]

And how much does the tax man and lawyer get ?

They always get.

[snowgard]

If divorce in Thailand the 50/50 rule is only for assets in Thailand not in UK.

[Estrada]

I think she is being quite reasonable as she is not asking for maintenance. Fortunately both my English wives did the same deal, however my first Thai wife said "What's yours is mine and what mine is my own", and I finished up with nothing. Sound familiar?

[ThaiSanookGuy]

I think that I would sell everything secretly and tell her to go get F.

This is what I did and what I will always do.

Nobody has right about the money I make, not even governments...

[timewilltell]

Assuming the 17k is now spent and she is offering it to be deducted then you are getting a good deal to deduct it from the sale of the flat along with all the other costs of the divorce and split the total between you. So take the 120k deduct 17k deduct other expenses and divide what's left by two. You get your half plus the 17k.

If you still have the 17k then you just ignore it and keep it. Split the flat proceeds less expenses ignoring the 17k completely.

[mitsubishi]

Unless she is non-divorced material (previously) with no kids. Tell her to fck off. You don't own her anything. If you had kids to her then it would be different but I suspect you've been taking care of her kids as a subsy father.

You seem to be letting her wear the trousers, plus getting married to a Thai bird is a bit silly nowadays.

[Expat Brad]

I think that I would sell everything secretly and tell her to go get F.

This is what I did and what I will always do.

Nobody has right about the money I make, not even governments...

What about the children F them too aye mate!!!......selfish & irresponsible thinking but hell at least you've got your money!!!

[Krataiboy]

If divorce in Thailand the 50/50 rule is only for assets in Thailand not in UK.

Does that mean in the event of a divorce, a Thai wife would have no claim on financial assets held, say, in an EU country or offshore?

Any link to the relevant Thai law?

Thanks.

[GOLDBUGGY]

It is a very confusing the way in which you and your wife are trying to settle this. I keep the cash now and give it back to you later after I get my share from the property? Or you keep the cash and I get half of the sale of the flat? Or I keep the cash, you sell the property, I give you back this cash when you give me the cash for the property? Geeze!

First off, are you splitting the assets 50-50 or not? Are you selling the property right away? Is she keeping the 17,000 GBP now as security until you sell the property, at which point she only wants half of the net sales from that? Keep in mind the what you think your property is worth, and what it sells for, could be 2 different prices.

If it was me and I was splitting 50-50 I would give here half of the 17,000 GBP now, and half of the Net Sale Price of the property as soon as I could sell it, and get all this down on paper from a Lawyer. You don't want any lose ends to deal with later when you are both headed for a Divorce. So the sooner you can settle this the sooner you can live free.

You may be surprised on how many women change there minds and sworn deal with you, after talking to a lawyer or friends.

The point everyone here is try to make, in case you don't know, that in Thailand you are allowed to keep what you bring into the marriage. So it doesn't matter when you bought this house but who paid for it is more important. If she helped you, and perhaps supported you for years then split ever thing with her 50/50, forget the fancy math, and move on.

[snowgard]

If divorce in Thailand the 50/50 rule is only for assets in Thailand not in UK.

Does that mean in the event of a divorce, a Thai wife would have no claim on financial assets held, say, in an EU country or offshore?

Any link to the relevant Thai law?

Thanks.

Thai law can only ruled out in Thailand!!! In Ask the lawyer Forum you can find a similar answer:

http://www.thaivisa.com/forum/topic/729493-divorce-question/

Regarding claiming your assets in the UK it all depends on the law there, she can make the claim but the amount she can claim will according to the UK divorce law.

[rotary]

If divorce in Thailand the 50/50 rule is only for assets in Thailand not in UK.

I would give her lots of hassle over the UK property, she might just go away on that one as Thai courts have no control over assets outside the country.