Division of Property. Financial Settlement for SP?
@Observe_dont_Absorb snipped for focus.
A generous settlement for SP? Respectfully, not necessarily, depending on multiple favtors.
1. Terms of a financial agreement* they may have entered. Perhaps pre-nuptial or at time of initial separation or even since then.*
If no financial agreement in place, then depends on---
2. Statutes re division of property. Per info from an OZ law firm, courts consider the entire financial pic in determining whether a given asset is included in the pool of assets available to be divided as matrimonial property.**
3. Financial circumstances of EP & SP, but AFAIK, we/gen public do not know:
--- earned income either has,
--- investment either has,
--- assets either has (aside from some real estate EP inherited and some since purchased),
--- debt either has, secured or unsecured.
OP's prediction may be accurate, IDK.
The basis for making any prediction is quite limited imo.
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*A couple may decide.
"A financial agreement can be an effective way for couples to plan for the division of their assets in the event of a separation. Such agreements can be made before or during a relationship, or after separation. There are various advantages to entering into a financial agreement, ..."
Lander & Rogers - Family & Divorce Lawyers. Expert Family, Defacto Relationship Law Firm in Melbourne, Sydney, Brisbane, Australia
www.landers.com.au
** If court is involved in prop. division.
".... In Australia, however, the categorisation of property and how property is owned or registered is irrelevant for the purposes of identifying the pool of assets available for division. Rather, matrimonial property includes all assets, liabilities, superannuation and financial resources that the parties have an interest in under joint names, their respective sole names and, in certain cases, via corporate entities and trusts,...."
".... Rather than focusing on how a property is registered, categorised or owned, the Australian courts will consider how and when property was acquired by one or both parties when they consider whether the property should be included in the pool of assets available for division.
Sometimes, property can be excluded from the assets available for division depending on how or when it was acquired (for example, an inheritance received post-separation), however, such circumstances are uncommon.
In most cases, Australian courts will consider the totality of the property available for division between the parties. How and when the property was acquired and each party's contributions to property may ultimately have a substantial impact on what each party keeps as their final property settlement outcome...."
In Australian family law, property for division includes assets, liabilities, superannuation and financial resources that the parties have an interest in.
www.landers.com.au