The court gives utmost importance to the duration of the relationship while determining how the assets are divided in Australia. It's quite possible that one spouse made a significant financial contribution to the marriage.
Ultimately, the court employs a high degree of discretion when considering what effect one party cohabitating with a new partner has on the property settlement. It all depends on the circumstances of the particular case.
There are many factors to consider, including assets, incomes, living expenses, inflation, alimony, child support, taxes, retirement plans, investments, medical expenses and health insurance costs, and child-related expenses such as education.
The most common percentage split in the division of assets in Australia is 60/40. For many couples, one partner will contribute more financially, while the other may contribute more in way of caring for children and looking after the home.
The most typical division, however, is a 60/40 split. This typically happens when one person makes more money while the other has a greater share of the obligation for caring for the children after the divorce, or may have a limited ability to earn money or less superannuation.
The superannuation splitting laws allow separating couples to value and divide their superannuation after a relationship break down. Under the laws, one partner may split the amount remaining in their superannuation fund and make a payment to the other partner's superannuation fund after separation.
WHAT IS A RULE 43 INTERIM MAINTENANCE APPLICATION? Rule 43 of the Uniform Court Rules as well as Rule 58 of the Magistrate Court Rules provides litigants in divorce proceedings with the opportunity to approach the court for an order granting interim relief pending the finalisation of a divorce.
Most property proceedings result in a division of 55 to 65% in favour of the economically weaker spouse, historically the wife, before payment of legal fees. Nevertheless, the outcome of your property settlement will depend upon your practical circumstances, judicial determination in this field being discretionary.
In Case Of Divorce, Who Gets What, Australia? If the parties cannot decide how the assets are to be decided, it's left up to the family court to decide. As per the law, there's no strict formula for a divorce settlement in Australia. Contrary to popular perception, there's no 50-50 split rule.
If you start living with a new partner before the financial settlement is agreed upon or have an intention to do so after the divorce and you have not disclosed the relationship or your intentions during the negotiations your settlement may be re-opened when the non-disclosure is discovered.
Usually, it seems as though the woman is the one who gets the better end of the deal. While many men are quick to say that their ex-wives took everything, including the dog—or that is what many country songs lead you to believe, anyway—the truth is that women often fare worse in a divorce.
A Fair Share of Assets
The longer you and your partner were married, the more likely it is that you have tons of intermingled marital assets that need to be separated and divided. If your marital assets include businesses, antiques, or real estate, ensure that you are getting a fair hand in the division.
The Four Horsemen are four communication habits that increase the likelihood of divorce, according to research by psychologist and renowned marriage researcher John Gottman, Ph. D. Those four behaviors are criticism, defensiveness, stonewalling, and contempt.
If you are going through a divorce and you are living with your new partner, then you must disclose this to your former partner when you are sorting out the finances on your divorce.
There is no fixed rule when it comes to new partners and the divorce settlement. The court is obliged to consider the impact of a new partner but whether the new partner influences the final decision can come down to numerous factors including; The length and stability of the new relationship.
Entering into another marriage before your divorce is finalised would therefore render you in a polygamous marriage and the court will view your first marriage as the one in existence. The legal consequences afforded to marriages, and married couples, would only be applicable to the first marriage.
Practical steps to help protect your assets
Keep your property and finances as separate from those of your partner as possible. Hold separate bank accounts. Contribute equally (or at least by clearly agreed shares) to household expenses. Avoid having your partner work in your business.
Both you and your spouse are equally entitled to live in the marital home during separation – ownership of the property is not relevant. Anyone can also leave the marital home during separation but no one can be forced to. This means you cannot make your spouse leave and then change the locks.
Under the Family Law Act 1975, a person has a responsibility to financially assist their spouse, or former de facto partner, if that person cannot meet their own reasonable expenses from their personal income or assets.
After they are divorced, the wife has the right to ask for maintenance and livelihood costs for her and her children, however, she cannot ask for the property in a divorce settlement. For example: The husband buys an apartment for his wife and himself after they get married, and it is registered in his name.
The Court will normally consider a 50/50 split of the matrimonial assets when dealing with a long marriage following the 'yardstick of equality'. With short marriages, capital contributions become more relevant in deciding how assets are divided in a divorce. Age is also an important consideration.
What is a Rule 43/58 Interim Maintenance Application? Rule 43/58 can be used for an order granting one or more of the following: Maintenance pendente lite "whilst the divorce proceedings are pending” (this includes child and spousal maintenance);
the spouses not living together for a continuous period of one year; abusive behaviour by one spouse towards the other spouse or the children; adultery (for example, when one of the spouses has a sexual relationship with someone else);
It is a myth that you can just get an automatic divorce after five years of separation without your spouse being involved. If you can't locate your ex-partner then you must show the court that you have done your utmost to find them.