VIC Separation and financial matters

[Sshn]

hi there,

I’m hoping someone can help me out with a financial matter.

I have been married for 11 years and two years ago have purchased a house. My in-law gave my wife 400k which we put it into the house and we put in an additional 200k. The net asset of the home (after deducting from loan) is about 700k. My wife now wants to separate and is asking that we return the 400k and split the 300k 65/35 in her favour. My wife is not working and we have two kids. There was no written pre conditions or agreement regarding the 400k. In the eyes of the law, where do I stand in this case?

 

[sammy01]

have a read
Financial cases - Family Court of Australia
So there are no hard and fast rules. But she has lots going in her favour as far as getting more pie and having the $400K quaranteened from the asset division.
So where do you stand? look like I said, there are no hard and fast rules... Most folks come to an agreement without court. So how old are the kids? how much time do you want with them? how much do you earn? How much super do you have and is that being factored into the 65/35 split... So if for example you have $200 000 in super and she isn't interested in getting any of that from you, then maybe the deal that is on the table ain't all that bad..

 

[Sshn]

have a read
Financial cases - Family Court of Australia
So there are no hard and fast rules. But she has lots going in her favour as far as getting more pie and having the $400K quaranteened from the asset division.
So where do you stand? look like I said, there are no hard and fast rules... Most folks come to an agreement without court. So how old are the kids? how much time do you want with them? how much do you earn? How much super do you have and is that being factored into the 65/35 split... So if for example you have $200 000 in super and she isn't interested in getting any of that from you, then maybe the deal that is on the table ain't all that bad..

Thanks for your reply Sammy.

I can only hope we can reconcile the relationship. It’s a stressful time and I guess I just need to take my mind off it.

 

[sammy01]

Yup - hard times. I know your pain. But the more info you can get from punters like me, the fewer questions you'll be asking a solicitor at $500 a hour