NSW Asset split on divorce for my personal circumstances

[Hangover]

So I’m the primary bread winner and also happen to be the primary care giver (I think) of 2 young kids. Partner is wanting separation/divorce. I’m roughly 15 years away from retirement. And my partner is still young and has more than 30 years before retirement. I own my property and have accumulated a lot of savings while my partner barely has any assets. After tax my partner makes about 70% of what I’m making. Has anyone gone through or heard of a similar scenario and if so advise how much the asset split was on separation?

 

[sammy01]

there are other factors. How long you've been together is a signficant one... So in my case we were together about 8 yrs. I had 15 yrs full time work so substantial super.... The super I had prior to the relationship was accepted as mine (kinda). So while I still got taken for a ride it wasn't all that bad...

But it is hard to advise with limited detail - how long you're together, is one, arrangements for kids, etc etc. Your age matters. the ex has more time to earn $$ in super than you, for example.

 

[Hangover]

there are other factors. How long you've been together is a signficant one... So in my case we were together about 8 yrs. I had 15 yrs full time work so substantial super.... The super I had prior to the relationship was accepted as mine (kinda). So while I still got taken for a ride it wasn't all that bad...

But it is hard to advise with limited detail - how long you're together, is one, arrangements for kids, etc etc. Your age matters. the ex has more time to earn $$ in super than you, for example.

Married for close to 7 years. We only knew each other for a short period of time before that. Roughly what percentage of your super was taken from you if you don’t mind.

 

[sammy01]

So we finally sorted assets and kids ourselves. It was a blood bath. But still managed to stay out of court.... What might be of interest to you was that one of the factors that worked in my favour was I agreed to keep most of my super, meanwhile she got most of the cash from the sale of the house. But because I have to wait to get old to access the super and I am at the risk of the markets BUT she got the cash now and as such she could use the cash to do what ever - hence I was disadvantaged and that was another reason for a few more pennies to come my way.

Look, no two cases are the same. But as a rough guide in my case she got about 60%.... That was based on me having a substantially higher earning capacity, she was going to be the primary carer of 3 young kids and while I brought in substantial super, she had about the same as cash from an inheritance...
But even at that she got about 20% of my super, all the proceeds from the sale of the family home and all the furniture etc..

 

[Hangover]

Thanks for that. It’s just the house is worth 4x what my super is at the moment. I have higher earning capacity in the relationship but also primary care giver given I have a work from home arrangement since the pandemic while my partner has to work onsite 4x a week and usually weekends.

 

[sammy01]

Hey,
look the laws around separation are pretty good. The problem arises when one person thinks that divorce is a cash grab. Just because Angelina Jollie got millions out of Brad Pitt does not mean my ex is gonna get millions out of me. I still have a letter somehowere that tates the ex wanted 105% (yup) of the assets. She got about 60% and that was fair. Sadly.... WE both blew about $50 000 each on solicitors and that seriously impacted the size of the asset pool.

My advice - handing over 5% more to stay out of court is a good idea if you can achieve it.