In TD-now married a...
 
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In TD-now married and moving abroad- advice please

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 bob
(@bob)
Active Member
Joined: 16 years ago
Posts: 10
Topic starter  

Hi,

I've been in a TD for 1 year.

I got married last week to a foreign national. I intend to move abroad to live with her (to USA). At the moment we will remain apart in our own countries as we go through the Visa process. In 6-12 months from now I'll leave the UK to go and live in USA. When I get there I'll have about 1 year to go on my TD. I fully intend to maintain the TD and payments into it ÔÇô I won't have as much surplus income after the move but I should be able to stick to my normal payment.

Apart from getting married, my circumstances are essentially the same ÔÇô eg, still living on my own on only my income, same rent and expenses, etc. My wife has her own house in USA and supports herself over there. We are financially separate from each other. We met and got married after I was already in a TD.

So now I'm in a position to inform my Trustee that

a) I'm married
b) I'm moving abroad at some point in the future (during my TD term)

Taking into account my circumstances mentioned above, what effect is this likely to have? She has kids and an ex-husband who co-owns a house he and the kids live in. I'm asking- will it remain simple and I remain financially separate? Or will it get complex and my wifes affairs be dragged into it all?

Also, aside from being married, is there any effect I need to consider regarding moving abroad? I know it's allowed, but is there anything I should know?

Cheers, Bob.


   
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Julie Heaton
(@julie-heaton)
Estimable Member
Joined: 16 years ago
Posts: 246
 

Hi Bob

Congratulations on your wedding!

Your contribution to your Trust Deed will probably be reviewed once you move to America, so if your financial circumstances change then your contributions may too. If your wife is working then it may be that you can afford to pay more as you will be sharing the household bills. If however your wife isn't working you may find that your contribution may reduce.

Julie

Julie

Julie is not currently posting in the Trust-Deed.co.uk forum.


   
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Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 16 years ago
Posts: 4798
 

Hi Bob

I have 3 or 4 Trust Deed cases with almost exactly the same circumstances and as long as you maintain the agreed contribution and there's no real material difference in circumstances, everything should run as planned. Just watch out for exchange rate fluctuations!

Mark

Mark is not posting regularly in the Trust-deed.co.uk forum.


   
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 bob
(@bob)
Active Member
Joined: 16 years ago
Posts: 10
Topic starter  

Thanks all. Mark- looks like you'll have another case then- you're company is dealing with mine! Details in writing are in the post. Cheers


   
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Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 16 years ago
Posts: 4798
 

Hi Bob

Phew! Just as well I gave the right answer!

No problem, I'll have a look at the info and wish you all the very best in your new adventure. It will certainly be a bit of a change from your current surroundings.

Regards

Mark

Mark is not posting regularly in the Trust-deed.co.uk forum.


   
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