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Divorce - No Children - Will Assets be Split 50:50?

Discussion in 'Family Law Forum' started by cbd_pune, 24 June 2014.

  1. cbd_pune

    cbd_pune Member

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    Hi all family lawyers. My husband and I have separated as he’s been having an affair with a younger colleague. I tried many way to rescue the marriage but he refused in every way. Till now, we count as separated under the same roof of our own property, but we have no evidence for that. Its already been for 12 months. Now he's decided to sell the house.

    Will assets split 50:50 without children in a divorce property settlement? Also, what else should we split, such as savings money and super? Should I have my own lawyer for this because I am the only one here and I don't have any family to help me? If I need a lawyer how much would that cost in total and what service will I receive?
     
  2. rebeccag

    rebeccag Well-Known Member

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  3. Alan Weiss

    Alan Weiss Active Member

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    Hello,

    This is a common question that seems to get many people into strive.

    I would first recommend that you try to agree on many things, such as the next asset value and what is that each party want or is hoping for.

    Off-course, if you do not agree, you have the option to initiate an application with the court . This is very expensive.

    The court utilizes a four step approach in resolving property settlement disputes. The following is the four step process:

    1. Creation of a net asset pool. The net asset pool pertains to the value of all properties owned or acquired by the parties before, during and after the marriage or de facto relationship. In ascertaining the net asset pool, courts will have regard to properties over which parties have influence, control or future entitlement (ex. Inheritance).

    2. Assessing each party contribution to the marriage or de facto relationship.The contributions considered may be financial or non-financial. Homemaker contributions are also included in the assessment. The Family Law Act recognizes homemaker contributions as relevant to a property settlement case.

    3. Identifying the future needs of all parties concerned

    4. It has to be fair and equitable

    I would seek a legal advice from a family law expert.
     
  4. cbd_pune

    cbd_pune Member

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    Thank you both of you guy, Rebecca and Alan.
    I know it is very common question, but I see in this case mostly they have children involved.
    I think I can agree with him for the assests , however I don't know any legal.
    Right now he try to convince me to sign on the paper to selling the house.
    I do not sign anything yet as I feel my instinct said it is not right.
    I was not sure we need to do finiancial agreement / consent order before selling house?
    For my case, I just need legal adbise to help me to sort out our financial and just to make sure I do not lost anything.
    I will be very appreciate to get eveything 50/50.

    Thank you in advanced
     
  5. Alan Weiss

    Alan Weiss Active Member

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    There are two ways that you can secure your property settlement.
    1) Financial binding agreement (you will need a lawyer to prepare it and your partner will need an independent legal advice as well). The other way is via consent orders.
     

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