The whole case is handled by the lawyers, the papers are prepared by the lawyers and they file the case. The actual date was in September, but if the client requests the lawyer to prepone, the date can be preponed after giving an application, application is filed by the lawyer. It takes just one or two days. The application is to be approved by someone else (cant recall what is the position, but someone in family court), presented in front of the judge. The reason has to be given in the application, which in our case was that both of us are not in India. Judge saw the application, saw the file, asked us some questions and approved.
Last edited by mercury_element; 03-08-2010 at 03:02 PM.
How about credit cards, mortgages, consumer loans? - are any of them joint and several?
If you have an Order that says neither party can come back for more then you are probably OK but recent cases in England & Wales have shown that even this can be overturned in some cases.
However, as you both still have a joint account together you are both at risk from the other racking up debts within that account as you both remain jointly and severally liable. Forgive me for saying this, but the severing of all financial ties doesn't seem to have been handled very well in India and I think you need to go through all your accounts and joint policies and make sure that they are canceled otherwise you could both find yourselves in an embarrassing situation further down the line. At the very least, any money in existing accounts will need to be divvied up between you both. Again that should have been part of the full and final financial settlement. Close the account asap.
>>>>>If you have an Order that says neither party can come back for more then you are probably OK but recent cases in England & Wales have shown that even this can be overturned in some cases.
Thanks, we have already signed an agreement which says that neither party can claim anymore.
>>>However, as you both still have a joint account together you are both at risk from the other racking up debts within that account as you both remain jointly and severally liable. Forgive me for saying this, but the severing of all financial ties doesn't seem to have been handled very well in India and I think you need to go through all your accounts and joint policies and make sure that they are canceled otherwise you could both find yourselves in an embarrassing situation further down the line. At the very least, any money in existing accounts will need to be divvied up between you both. Again that should have been part of the full and final financial settlement. Close the account asap.[/QUOTE]
Thanks. I think its better to close the account then. As far as dividing the money is concerned, he can keep it all and be happy.
Well, that's not true. There have been cases where a father has been left with children and has been awarded both alimony and child support where the ex-wife was the main earner. Not many cases I grant you but it is not unknown especially if the ex-wife was a high-earner.
Usually in such cases the alimony/spousal maintenance would be for a set number of years and for a nominal sum (say GBP 1.00 per year) which is never paid but the fact that it has been granted means that it is open for the receiver to go back to court to apply for more. The judge then has to look at all the circumstances (needs of the receiver and ability of the payer to pay). The parent with care of the children is usually well protected by the Court.
Yup - just get it closed. If you can agree between yourselves who keeps what then so much the better - no point to waste it on lawyers. As a matter of interest, were your respective lawyers aware of the existence of this account (or did you both not inform them)?Originally Posted by mercury_element;989825. [/QUOTE:
Just inform your ex that you want to close the account and do it jointly asap.
Yup - just get it closed. If you can agree between yourselves who keeps what then so much the better - no point to waste it on lawyers. As a matter of interest, were your respective lawyers aware of the existence of this account (or did you both not inform them)?
Just inform your ex that you want to close the account and do it jointly asap.[/QUOTE]
I had completely forgotten about this account so dint mention it to my lawyer, he doesnt know. Dunno if my ex's lawyer knows about it.
Thanks a lot for all the useful information
besides closing the joint asap:
set up your new bank account asap too, and inform your employers / any incoming credits of it as well, so any future salary doesn't go to that account. Some employers may take a month to update depending on when they perform the cycle. you may prefer a different bank altogether for this, or at least, a different relationship manager.
if you have other bills going to the joint account which are yours, move them over as well - this could take a month too.
if you set-up your new account as a payroll account, get the credit card from the bank as well, that'll be easier to manage. you can think about more credit cards in future but probably get one in your own name first.
i do suggest getting your own insurance btw.
double check if you've any social security in India or HK or whichever country, whether there's any automatic beneficiary - usually this is the spouse. In your case, you'd want to make sure it goes to e.g. your own family back in India.
i'm busy this week, but could have time sunday, wanna hang out then? =) PM me!