Where parties have a Family Law property dispute or a spouse maintenance dispute or a dispute about financial matters generally, a question that often arises is “do I have to disclose everything I have or earn?”.
Often people cannot understand why what assets they now have is relevant, especially where they may have bought the asset after separation.
This is a natural reaction. Where you have accumulated property, savings or other assets since separation, why should they be taken into account?
The answers are not straightforward, and they need to be discussed with your Family Lawyer at the time of giving instructions.
There are some simple responses however which might help you understand. For example:
- If a matter proceeds to Trial, the Courts will generally divide the assets which exist at the time of Trial.
- Whilst people might take the view that it is only the assets at separation which are relevant, the Court does not take this view even though many people negotiate a settlement on the basis of what existed at separation.
- Whilst property might have been accumulated since separation, the property may well have been accumulated as a direct, or indirect, result of having had the benefit of assets which were accumulated during the relationship. Property acquired post-separation may well be included.
These are but a few reasons. Everybody’s case is different. It does not matter whether you are separating from a de facto relationship or seeking a marital property settlement, these principles (and others) will generally apply.
Please contact our Adelaide Lawyers and Modbury Lawyers in the event that you wish for your matter to be properly considered and advised upon.