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QLD Ex-Husband's Unreasonable Spending and Property Settlement

Discussion in 'Family Law Forum' started by Kscib, 13 February 2015.

  1. Kscib

    Kscib Active Member

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    Good afternoon,

    Quick question. 3.5 years ago upon separation, my ex-husband left the family home without a cents worth of debt, owned his own car, and had a mid-level, $60k per year management role. Since he left he has managed to accumulate about 5 or 6 loans including credit cards, short term high interest loans, a home loan and a personal loan. All this whilst moving to an employ in the mines on a $120k job about 18 months ago. Of course, now we are going to court for final orders (property) to be decided (I had to go court versus mediation as he threatened to file for bankruptcy) and he has no savings or equity of any kind (other than a car and a house that's value is the same as the mortgage) and in the three years I have managed to overpay my mortgage and car loan so that they both have considerable equity.

    Is there anything I can show that I can done the 'right' thing in the years post separation (with two children, mind you) and he has merely 'squandered' away all funds and potential savings?
     
  2. Rod

    Rod Well-Known Member

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    During my divorce >20yrs ago, my ex did something similar. Family Court however refused to look at prior recent history (post separation) and just wanted to know what the current financial positions were. :( Wasn't happy but nothing I could do about it.

    Not sure if things have changed in the meantime.
     
  3. Kscib

    Kscib Active Member

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    Hmmm. I thought as much but had heard something from a previous lawyer I had an initial consultation with about 'wasting' funds and that the consideration is provided for pursuant to section 75(2)(o) of the FLA.
    Any one else with any ideas?
     
  4. Sophea

    Sophea Well-Known Member

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    Hi Kscib,

    Are all of the loans he has taken out since separation in his own name? or are they existing joint mortgages / debts that he has overdrawn on? If they have been taken out by him - he will of course will liable to pay them off, but since he has gone and got a significantly higher paying job now then that will all be taken into account.

    As I understand it the court looks at the whole financial position of both the parties, the "asset pool" and the reasonable financial needs of each party post separation and divides the assets in the most fair and equitable way. I would think this would take account of any wasteful spending of resources taken away from the relationship and I am sure you will have an opportunity to put forth evidence at the hearing.
     
  5. Kscib

    Kscib Active Member

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    Yes.. all loans and credit cards were taken out since the separation in his own name. He left our family home with zero debt and has accumulated it all in the years since our separation.
    I'm hoping I'll have some opportunity to show this in court. We'll see I guess.
     
  6. Sophea

    Sophea Well-Known Member

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    All the best with it Kscib!
     

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