SA My financial rights during a seperation

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Rod

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27 May 2014
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If I commence separation, how do I protect our assets or debt if he takes out credit or has an accident drink driving? What are my rights? Does evidence of a separation protect me and my children?

These questions are not readily capable of being answered through an online forum except in a very generic fashion that do not take your circumstances into consideration.

The best way of protecting your assets is to move to separate sooner rather than later.

Your rights are to:
  • initiate proceedings to split property - assuming your relationship qualifies as a defacto relationship; or
  • split property by agreement.

Evidence of separation provides some degree of protection. How much protection depends very much on the circumstances. I could run through a 100 different scenarios and it still may not cover your exact situation, especially as you are concerned about events that have not yet happened.

If the relationship is over it is nearly always better to separate sooner rather later. Some couples make separation work while still living under the same roof but they are very much in the minority.