Divorce - Assets Agreement?

[Rachel W]

Hi all family lawyers. My husband and I have separated as he’s been having an affair with a younger woman. We have one child who I would expect to live with me primarily as his father is always away for work. Will our property and assets be split 50:50? And should I be pushing for him to cover 50% or more of my expenses plus child support in the future?

 

[Michael T]

Assets are not automatically divided 50/50. A court must consider many things to determine a fair split. This includes:
- assessing the assets and debts, and their values,
- evaluating the contributions that both parties have made,
- addressing both parties’ future needs, and
- assessing whether the overall settlement is fair.

The fact that you’ll take primary care of your child will be taken into account, and superannuation will also be split in a way that’s fair.

In terms of child support payments for the future, your husband as the parent living away from his child is obligated to provide a degree of support to the family. 50% of expenses is not a default position, the Child Support Agency will make an assessment based on both of your incomes, how old your child is and how much time your child spends with each of you.

 

[Harry E]

Be careful - sometimes separating couples agree to divide assets 50:50 split, only for it to result in one party being short changed! Go see a family lawyer as each person’s circumstances are so different and you’ll need specific advice to get the best result, which is fair for you.