Divorce and being Blackmailed

[Royal Albert]

Guys need some help, will try to keep it brief.

My wife and her family are blackmailing me to buy a house, otherwise divorce my wife. we share a 6 month old baby boy and my wife has gone back to her parents house. Previously we were living together with my parents, which my wife cannot stand.

Now, im not stupid enough to realise all they want is money from me, either in form of house, or via maintenace if i reject and it comes to divorce.

My questions

Im a Ltd company, with wife as company secretary. what advice in terms of Ltd company?
I dont have property. i had a car, which ive transferred in my sisters name.
i also have 7k stashed in ISA's. Nothing plus in our current joint accounts.
What do i do? Open a new company in parents names?

I have to give my wifes family an answer within coming weeks whether i accept thier demands or they start legal proceedings.. What has the world come to!!

[~Craig~]

Does she have any shares in the company?

If not and she's only co. sectretary then you should be able to get rid of her and appoint a new one. Even if she is a shareholder she's not entitled to any of the cash unless you declare yourself a dividend, in which has it has to be proportionate to the shareholding

i.e if she owns 50% of the shares and you give yourself £10k; you also have to declare the same for her.

I'm sure someone else will add to this soon. I don't think you should rush ahead and do anything without fully thinking it through. Let the bitch wait!

[dude69]

you can RENT houses y'know. Nice ones too.

Can't imagine why anyone would live with their parents.

It doesn't matter who owns the shares - with a baby the wife has a meal ticket for life, and will be entitled to your deemed future earnings.

Bit of a weird story, the house presumably is for you and her, not the in-laws????

[shelby68]

Got to be honest if I was married to someone who was trying to take me for a ride like that I'd pretty much assume the marriage is over anyway, pay yourself 5k a year and let her try and get maintenance and a house out of that… have a nice day

[exbrm]

Cloud Cuckoo Land

This site takes some beating.
It must be a wind up.
All under the heading "Accounting and Legal"?
Try Ruby Wax & Graham Norton in Saturdays Telegraph; they like a good laugh.

[fridge]

Hi Royal Albert, wot are you worried about? Divorcing her or the pressure the outlaws are putting on you?>

Do everthing by the book, sort out the company secretary thing first with companies house . Just because she is a co secretary doesnt mean she is an employe. Any old duffer can be a company secretary or shareholder so next time get the bog cleaner to do the job instead.
You may have a problem if shes a employee.
Get some legal adise and dont be blackmailed by those money grabbing outlaws, It really p*****s me of to here that as I bet you were thier next meal ticket when you and the wife were together?

[shelby68]

This site takes some beating.
It must be a wind up.
All under the heading "Accounting and Legal"?
Try Ruby Wax & Graham Norton in Saturdays Telegraph; they like a good laugh.

Well at least the subject matter sits quite nicely into both accounting and legal in a roundabout way…

[fridge]

Well at least the subject matter sits quite nicely into both accounting and legal in a roundabout way…

yes i agree with you shelby68 as its about time we had suport and advise from fellow contractors on this as there are WAGS and their exended families etc all out there trying to get some of the action and cream us.

[WindyAnna]

yes i agree with you shelby68 as its about time we had suport and advise from fellow contractors on this as there are WAGS and their exended families etc all out there trying to get some of the action and cream us.

Yeah, yeah we're all a load of money sucking b*tches .... WTF?

[shelby68]

Yeah, yeah we're all a load of money sucking b*tches .... WTF?

I admire your honesty ...