WA When is the Effective Date of Valuation for Property Settlement?

[NathanT]

My ex and I were separated 3 years ago (a 16-year marriage and 2 kids under 18 years still living at home), at which time I took a snap shot of our financial position at the separation date. The divorce was only granted 3 months ago at which I took another snap shot of my financial position.

As we have still not agreed on a property settlement figure, what is to be considered the effective date for the purpose of valuation if I am to file the financial order today since the separation of both my income and asset position have changed substantially?

 

[sammy01]

You're not gonna like the answer. Assets are valued at the time of settlement, not time of separation. The courts will take some consideration for changing circumstances, but right now would not be the best time for you to win the lotto. So get it sorted.

Alternatively - it might be more prudent for you to wait another 9 months. Once you're divorced for 12 months, it is harder to make a claim on the assets. But that would depend on your circumstances.

 

[Clancy]

You're not gonna like the answer. Assets are valued at the time of settlement, not time of separation. The courts will take some consideration for changing circumstances, but right now would not be the best time for you to win the lotto. So get it sorted.

Alternatively - it might be more prudent for you to wait another 9 months. Once you're divorced for 12 months, it is harder to make a claim on the assets. But that would depend on your circumstances.

If that is true, would it not cause people to deliberately delay settlement if their partner had a much higher income? Or if they knew their partner was going to come into money say from an inheritance? You could simply refuse to cooperate with the settlement for as long as possible and the courts will happily reward you for that behaviour with fistfulls of extra money? Weird, very weird.