SA What are Ex's Property Settlement Entitlements?

[royboy]

First timer...going through a separation and my ex wants half of everything. I need to know a few things regarding property settlement:

I received 2 payments for disability from injuries caused at work when I was working. It is all still in the bank in a term deposit. Does she have any claim to it?

We have a new car and still owe $25000 on it. She left the car with me which I am paying off and she wants me to pay her for half of it. Does she get half the debt?

She wants half the house...every penny I made went to improve the house while she spent her income on make up jewelry,shoes and clothes. And last, I own a small business - sole trader. Can she claim any of the business? She has contributed nothing to the business.

Any help appreciated.

 

[royboy]

No help?

 

[sammy01]

Aw, mate - you didn't get a response within 24 hours. Cut us some slack.

How long were you married? Kids? What is her income? Who is living in the house?

Lots of questions but the answers will help.

 

[royboy]

3 kids all left home in their 20's. Income is approx 26000pa. She got a removal van and took all her belongings (and some of mine) and is no longer paying towards the upkeep of the house, which is paid for and fully owned, and left me with a heap of unpaid bills.

We have a car on payments which she wants me to pay half to her for. I have a sum of money in term deposit which was my inheritance when my Father passed away. The interest goes to running the household. I received $61000 for pain and suffering and ongoing medical cost which went to paying off the house and previous car.

I am a sole trader owner of a business which she has contributed zero towards which she wants to take half. basically it is a $3000 ute and a few tools worth $1000. I have contributed about 80% of the cost of the house while she fritters her income on clothes and shoes etc..

The only contribution from her income is the weekly groceries about $250...I pay all power, water, rates, phone, gas ,rego, insurance and car payments for the last 15 years we have owned the house since 1990 and have been married 28 years

I also received two redundancies, a small one which was basically the deposit for the house and and fairly large ones, which paid for all the furniture.

 

[sammy01]

Have you received an offer to settle?

Her income is about $26 000? Yours none save for compo payments?

She is probably entitled to close to half, I reckon. Maybe an adjustment in your favour because the inheritance, your compo payments and your future needs / inability to work...

My thoughts - agree to sell the house and split the profits 50/50. Tell her if she wants any more than that she can apply to court but do it all through solicitors. For any financial agreement to be binding, both parties must get legal representation. So if you make an agreement between yourselves - write it on a piece of paper and sign it - you are crazy.

 

[royboy]

Sorry, my income after tax is about $30000. Can only work 20 hours weeks due to injuries and nature of business.

 

[Rod]

Compo is an interesting one. Depends on why compo was received and it may not be straightforward to answer. If compo has various components for future needs these components, in theory, should be retained in full by the party with those needs. Other components of compo can go into the general pool to be split.

And inheritances can be either in or out, depending on individual circumstances.

If the assets you are wanting to protect are a reasonable size and you feel the other party is being unreasonable then see a lawyer, even if only for an initial consultation.