QLD Future Property Settlement - Equity Hidden by Spouse?

[Jason Carter]

Hi, my partner recently sold a business which was in her name only but bought and sold within the 15 years we have been together and run by both of us. She then used the equity to enter into another business with her mother.

We have been having a rough time of late and the future does not look rosy. We have tried to work out an equitable arrangement for separation but she has told me point blank that the equity held in the business has been put into a trust which only holds our kids as beneficiaries and I will never see a red cent of it.

We still live together in another property which I pay the upkeep and mortgage on which she plans to get more than half of as well.

I thought family law protected both parties and equity generated whilst together was dividable by both. Can she do this?

Thanks for any help.

 

[Rod]

Did you consent to placing the business equity in a trust?

 

[Jason Carter]

I did not know the equity was going into a trust so never signed anything.. First I found out was today.
She had the spoils of the business sale in her account and has done this behind my back.
According to her there is no way I can get my hands on it.

 

[Rod]

You need to:

• send her an email objecting to what she did.
• start keeping a document trail of assets to get ready for a property split.

It will be up to a Judge to decide whether or not you have a claim to marital assets, not your wife.

 

[Jason Carter]

Thank you Rod, I really appreciate the feedback.
Is it correct to say that judgements are usually pretty cut and dry in these matters not
taking into account the events which lead to the separation ?

ie: infidelity out of wed lock.

Regards