NSW Financial split of assets. Should I or shouldn't I ?

[Naught]

Hi All,

This is my first post. Some how I have found my self in need of advice.

I am getting divorced and have a property and asset split question. My ex wife has now decided to want to split 50/50 after taking the car and fridge and returning it to her parents whom had originally gifted the two items to us. She is now rushing to formalize the asset split via lawyers as 50/50 minus the car and fridge.

Back ground info on us.

No kids, two dogs she wants to keep and 4.5 years married. She is 5 years younger than me and has greater earning capacity.

My contributions into the relationship;

200k from sale of my property (We purchased another property with this money which we jointly own)
25k car which I sold
20k worth of furniture which I sold
Her contributions;
Approx 10k
7k car
3k furniture
Her parents contributed approx. 45k

Is this worth fighting after all the lawyers fees and time.

I am really confused as this divorce and relationship has taken a lot out of me emotionally. How does the court see similar situations in terms of financial contributions into the marriage?

Any advice will be greatly appreciated

 

[sammy01]

not to sure on some of the details. More detail required
but your contributions = $245 000? when you say you sold stuff? where is the proceeds from the sale
Her's = $66 000 and an old fridge and an old car?

Nope. Short marriage both parties should take from the relationship the same value (give or take) that they brought in...

I'd suggest you offer her a hand-shake and a packet of smiths chips. But seriously...


My advice, write back to solicitor, offering an asset split of 70% to you 30% to her.
Don't let your emotions get in the way.

so is there anything else? what about superanuation? Did she pay more of the mortgage for the time you were together? how long did you live together before getting married? How old are you? who is living in the matrimonial home?

 

[Naught]

Thank you for replying!

In regards to the sale of my car and furniture. The money was spent on Holidays, furniture for the new house and décor (She did not like my taste in furniture)

I have more in my super so for example if I have $150k she would have approx. 100k in super

When we met, she moved into my house after a few months together and we lived there for approx. 1 year. I sold the property and proposed (Yes, crazy and stupid in hindsight on my part and I will endeavor to do it right next time). We decided to sell and build a new house together and lived with my parents for approx. 8 months rent free whilst the house was getting built and the wedding planning/wedding was taking place - As I write this, I almost feel sick thinking where my better judgement has done throughout this entire time

The current property that we both share is being tenanted and we are both living apart, we are organizing it's sale now.

I am 39 years old and she is 34 years old.

If there is anything else I should add kindly let me know.

 

[Atticus]

In regards to the sale of my car and furniture. The money was spent on Holidays, furniture for the new house and décor

Probably not worth bringing these amounts into the equation... They were depreciating assets anyway & the proceeds have long gone... The $200K on the other hand should be given some weight in your favour after only 5 years... A division along the lines of what Sammy suggested, ie 70/30 in your favour

I have more in my super so for example if I have $150k she would have approx. 100k in super

Splitting super is not mandatory in settling property, I wouldn't bring it up... You both still have many years of earning potential in front of you & there are no kids

 

[Naught]

Thanks guys for replying, the info has helped to provide a bit of clarity into the matter for myself.

My next step is to organize a timeline of events, gather financial statements and anything else that I will need to provide to a solicitor.

Any ideas what a solicitor will initially need from me?