SA Financial Obligation after Separation?

[Debbie Lynch]

My husband and I have separated (separation). We are in the process of dividing our assets amicably until we are at the stage of drawing up the Binding Financial Agreement (BFA), which is when we will need a lawyer.

My question is, now that we have been legally separated for over 8 months, with separate bank accounts, if either of us wins, or obtains a large amount of money as a redundancy or entitlement payout, is the other party entitled to half before the BFA?

 

[CathL]

Hi Debbie,
Until the BFA is in force, then your assets would be dealt with as assets during your marriage.
Assets are not automatically split 50:50 - its what is fair between the parties (the Court takes into account a number of considerations, which you can also consider when making your BFA arrangements that you agree between the both of you). See these previous LawAnswers Family Law Forum threads that are relevant to your question:

• "Property Settlement if I Got a Divorce"
• "Separation and Selling Family Home"
• "New Husband wants half of everything - Where do I stand?"