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WA Post Separation Savings - Ex Not Entitled?

Discussion in 'Family Law Forum' started by Franz Allardyce, 27 January 2015.

  1. Franz Allardyce

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    I have a question that I would appreciate any help on: When I separated with my ex partner, I left her half the money in the joint bank account that she quickly removed. I have been now told that because of this she is not entitled to any of my post separation savings in a property settlement?
     
  2. Sophea

    Sophea Well-Known Member

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    Hi Franz,

    how you and your wife decide to split your assets depends on what you negotiate between yourselves. What you agree on can be made final and binding. There are no rules or laws that govern what each party is entitled to take away from a marriage. However, if you cannot agree on a property settlement yourselves, then you will need to get lawyers to negotiate on your behalf and if that doesn't work, apply to the court to split your assets. In doing this the court will look at all jointly held and individually held assets which will form a "shared asset pool". From this the court will divide it between the parties in what it deems to be a fair and equitable manner, having regard to the financial and non-financial contributions of each party to the marriage and the special needs (such as disability, health requirements of a child etc) of each party. It will also take into account who will have custody of the children and who will bear the financial and emotional cost of raising them.

    Therefore you cannot be certain that if a court were to decide on your property settlement, that all of your savings would not be drawn into the shared pool. It would depend on all the circumstances.

    Take a look at these previous LawAnswers Family Law Forum posts which will give you a little more info.

    https://www.lawanswers.com.au/threa...ll-house-in-my-name-stay-mine.2147/#post-7813
    https://www.lawanswers.com.au/threa...itled-to-ask-for-my-half-back.1435/#post-5169
    https://www.lawanswers.com.au/threads/divorce-property-settlement-expectations.1536/#post-5503
     
  3. Franz Allardyce

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    Hi Sophea
    Thank you for taking the time to reply I appreciate it ,have a great day.
     

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