Seek advice on "will" during mutual divorce
I am going to marry a person who is taking divorce from his wife mutually. He is giving huge amount in terms of alimony and child maintenance to his wife. Petition is filed and 6 months waiting period is given.
But now his wife has demanded that before the final hearing he should write a "Will" that in his absence all his money, investments or property should go to his child from first marriage. And his wife wants to attach this "will" document with the final divorce petition.
Now obviously such a "Will" is going to effect my future and child out of my marriage with him. Hence, I want to know what exactly needs to be done to make my and my child's life secured in my marriage with him so that in his ABSENCE or DEATH, his ex wife or his first child doesn't claim from anything he leaves for me as a husband:
1. We have a plan to buy a property which he will keep in my name only but he will take the home loan. But the lawyer he consulted told him that though the flat will be in my name but the EMI money will be from him even if he transfers the money to my savings account in cash and then pay the loan EMI from my savings account. Hence, on the basis of the "Will" attached with divorce paper, his ex wife or first child can still claim from the property in his (husband's) absence or death as it will be my husband's money.
a - what should I do in this situation?
b - he earns 10 times more than me, so even if he transfer money in cash to my account every month, I can never show that money as my income because my official salary is very less. How will I justify saying it's my money from which I paid the home loan EMI, or have done any other investment if in his absence, his ex -wife or first child claims from my savings or property which is in my name?
2. He has a plan that every month, he will withdraw his salary and deposit that in my personal savings account as cash and from my savings account, I will pay towards mutual fund in my name, or towards PPF in my name or any other investments which will be in my name so that he will not have any investments or MF in his name. But all this money will be his money that he will first Transfer to my personal account in cash and then we will pay towards the other investments from my account. So in his absence, can his ex-wife or first child still claim from these assets or investments which will be in my name on the basis of the "Will" attached with their divorce paper by claiming that it was her ex-husband's or her child's father's money? If yes, what should I do to save those investments or property from their claims?
Please suggest different ways so that I can save our finances, property from his ex-wife & his first child if they claim anything in his absence.
Asked 11 days ago in Family Law
@Ajay Sethi and everyone, thanks for guiding us.
Home, savings, investments are every couple's basic future needs. I earn 2.5 lacs pa & if I apply for a home loan to buy our flat in my name only, I can't get that much loan to buy a decent flat of say 35-40 lacs. As you suggested, that after marriage too we shouldn't have any online transaction, so every month he'll withdraw cash only, for investments to be made via my a/c. So our plan and the queries:
1. He'll be free by June'22. Before he makes the "will" prior to divorce hearing, he'll liquidate all his investments & transfer the money to a new a/c which his wife won't be aware of. Then it'll be transferred to my a/c & we'll buy a flat in my name with that money (instead of a home loan). Then both his & my a/cs will be closed so it doesn't leave a footprint & it looks as if I bought the flat with my money. Will it be safe? Or his ex-wife/1st child can investigate how I purchased the flat, from where I got the money to buy it? If it's unsafe, any alternative to make myself or my child secured in his absence?
2. Regarding other investments - after we marry, if he withdraws CASH, put it in my savings a/c & from my a/c he does all investments in my/our child's name ONLY, can his 1st child/ex-wife still claim just because it can be proved as his money (as my salary is less)?
3. In future, if he makes a "WILL" that all the money he has invested in my name should remain with me & our child only & can't be claimed by ex-wife/1st child & that the 1st "WILL" was forcefully made by his 1st wife during mutual divorce (we do have a phone recording where his wife said he has to make the "WILL" or else she won't sign the divorce paper), if his ex-wife or first child tries to create mess, will the 2nd "WILL" & the phone recording be enough to reject their claim?
He's my everything, has gone through an abusive marriage so I seek your expertise as I want a peaceful life with him, not with a fear from his ex-marriage.
Asked 10 days ago