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Impact of Separation on Future Property in Will

Discussion in 'Wills and Estate Planning Law Forum' started by Tracey, 29 May 2014.

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  1. Tracey

    Tracey Member

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    Hi, I am currently separated and we are selling our property assets and going our own way. We are not getting a divorce at this stage. My question is in my dads will I will be left some money when he passes away (hopefully not for a long time) and I was wondering if I have to share it with him. In his will he states he has solely left it to me - does this make a difference. thanks
     
  2. rebeccag

    rebeccag Well-Known Member

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    G'day Tracey,
    Have a look at this previous LawAnswers post "If you've inherited property and money, is your spouse entitled to any portion?".

    The consensus seems to be that if you receive your dads money prior to divorce and property settlement from your current partner, then it would come into play in the family law proceedings. See the Family Law Courts 'Financial cases' page that sets out the general principles for a court to settle financial disputes under the Family Law Act:
    • working out what you've got and what you owe; that is, your assets (including superannuation) and debts and what they are worth
    • looking at the direct and indirect financial contributions to the marriage/de facto relationship, such as wage and salary earnings
    • looking at indirect financial contributions such as gifts and inheritance from families
    • looking at the non-financial contributions to the marriage/de facto relationship such as caring for children and homemaking
    • factors such as standard of living during the marriage/de facto relationship and the length of the marriage/de facto relationship
    • future requirements, including things like age, health
    • future resources, including financial resources, care of children and ability to earn, child support which is being or is likely to be paid, the financial situation of someone with whom you are now cohabiting, any legal obligation to support other people in the household.
    However, if its received after your divorce and property settlement, then it would appear be in accordance with the will, so solely to you. At the moment, the money/property to be given to you under your father's will is a mere expectancy, but at least you have an idea of what might happen if you receive it before or after you finalise your divorce and property settlement. It may be worth finalising it sooner rather than later.

    Hope that helps. Let us know how you go.
     

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