NSW Division of assets / kid

[Joe B]

I have been with living with my wife since beginning of 2009 when we were married. We have a 7 year old daughter.

We came to the marriage with
1. My business that was quite successful and turning over $1M per year. The business had grown every year since its inception. My ex business partner offered me $1M for the business at the time.
2. A townhouse I purchased just prior to getting married $0.5M
3. My wife's real estate assets. $1.5M

Since getting together we have been at odds with constant arguments. I have always tried to appease her to try and promote harmony but this has taken its toll on me. Physically and mentally it has been extremely draining.

I would have divorced earlier but for my 7 year old daughter whom I cherish and do not want to lose.

About 1.5 years ago I sold the business to my ex business partner for $200K. The reason for the loss in value was my inability to think due to not being able to get a clear mind with constant arguments with my wife and the house being constantly in a mess (wife leaves stuff everywhere and will not change + I cannot clean up after her for the number of hours required + I was used to having everything completely ordered). I needed to get out as I was no longer able to make decisions at a level need to run a business.

Meanwhile the real estate assets have increased in value.

I have been looking after my daughter for the last year and a half. (taking her to and from school, looking after in the holidays, helping her with her studies after school, etc).

I have recently taken work as an Uber driver during the hours that are available when my wife is not an work or when my daughter is at school. This is the only work that I can find that provides the flexibility to look after our daughter and work the hours that I need to. I am in my 50s.

My wife insists on sleeping with our daughter (so that she can create a dependence). She also talks ill of myself to my daughter in order to drive a wedge.

I have no way of proving the value of the business that I brought to the marriage was worth $1M. I am no longer on good terms with the ex business partner and my wife broke the computer which held any emails (which she will deny).

I also spent $100K on overseas travel for our family in the time (most of which I can prove). I have paid all the utilities, rates, telephone, internet, etc which I can prove. She paid for childcare and some non essential activities/courses that she decided our daughter should go to. We went to restaurants frequently in the first 5 years and I almost always paid for them. Whenever we went to the supermarket together she would ask me to pay as "I was the man". Basically I spent a great deal more on our expenses but cannot prove it.

How would the assets be divided?

How can I ensure that I get custody? If I need to share custody, what do I need to do, to ensure maximum time with my daughter?

 

[sammy01]

ok so the value of the business is $200 000 - because that is what you sold it for.

Asset division is done at the time it gets sorted, so the $100 000 in travel is spent and has no relevance...

as far as child goes - that depends on how hard the ex will fight.. The best I reckon you can hope for is 50/50 care. How to make taht happen, well that is a very hard question to answer and I don't think anyone on a site like this can really give any difinitive answers. The best I can suggest is that you've got a better chacne of getting close to 50/50 care through court rather than through an agreement with the ex, especially if she is likely to get vindictive - and by the sounds of things she will...

 

[Blessing]

if your ex is not cooperative, unfortunately, you will get the best results in Court, very unfortunate. The not so bad news is that you still have to go through mediation first, you can only hope that things can be resolved then and if they do you want to have consent orders approved by the court.

Asset division looks at the value of assets at the time of separation, the contribution of the parties throughout the relationship, both financial and non-financial and any future needs of the parties. It's very difficult to say with certainty how this will go.

 

[Matthew Lynch]

If the daughter primarily lives with you and has been for 1.5 years then that should continue - you should not suddenly alter the parenting arrangements because of separation. If that continues then you have a greater chance of being the primary caregiver, although if the mother was the primary caregiver during the majority of the child's life you will face difficulty arguing the role of primary carer has shifted to you and it should remain that way.

how much is your townhouse now worth?

Who paid the mortgages during the marriage?