VIC Property Settlement - When Should it be Done?

[Marian]

I have been separated a year ago and just got divorced. Over the year, we haven't finalized the property settlement as my ex keeps arguing about the value of the business in different dirty but legal ways.

My question is, at what stage should we count the asset pool and split, is it at the time of separation or divorce or trial hearing? What if he intended to make the business lose to minimise its value or what if he pushed to sell it to his partner with very low value and claimed that this is its real value?

 

[MartyK]

You have 1 year from the date of the divorce to file for property settlement.

There needs to be full and frank disclosure of assets by both parties.

 

[Blessing]

The asset pool will be examined as is at the start of proceedings and this will look at every thing you acquired as well as lost from the start of the relationship till the final hearing.

If you worried about depleting the pool you can get orders through court preventing him from dealing with the pool in any way, including running a loss on the business.