How to Protect My Properties in a Divorce

[EarlyRetirement]

Hi Greg,

my heart goes out to you and your wife as that is a devastating thing to go through.
I pray you guys can work together and get through it to come out stronger .
I realise sometimes thats doesnt happen.There can be one half of the partnership that isnt willing to try ,or maybe unfaithfulness , i dont know .

In terms of financial seperation-If the marriage (including time you were living together before you married) was less than 4.5yrs(approx),they call that a "short marriage".Thus generally the courts agree to give back each party what they owned before getting together.(what they brought into the relationship)
Then whatever equity (or loss) you have made /gained since being together is divided up between the two.
But having a child in the mix changes this -All sorts of other things come into the mix-eg-support until the age of 16 etc etc.

Also on a side note-Binding finacial agreements can be challenged in court .So solicitors now recommend to write the agreement up then get Consent orders stamped by the court.(these cant be challenged later on down the track .

Just so you are aware, Consent Orders can be challenged in much the same way that a Binding Financial Agreement can be. The view held by most family lawyers, though, is that Consent Orders are harder to set aside because an officer of the court has approved and stamped them before they became binding - an added layer of protection that does not exist with Financial Agreements.

 

[warrioress]

Unfrotunately we do have a child, so that might make things bit complicated

This is really harsh. The child is the biggest victim in all of this. The child should be the reason why you exhaust all avenues before deciding on a divorce. It shouldn't be based on what you'll get in the settlement.

A family member of mine is currently going through a separation and the split is 70/30 in favour of the mother.

Hope you can work things out

 

[tubs]

What will most likely happen is you value the IPs you have with your sister.

50% of the value will form part of your matrimonial asset pool.

Your asset pool will be split as a % yours and a % hers.

You will need to make sure she gets her split. She cannot force the issue of getting the physical houses. You just need to make sure she gets the cash or value somehow.