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  1. #1
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    Default Separation

    Hi, single dad with two young girls separated 10+ months ago still waiting outcome of all the financial side of things.
    Ex left me for another person, moved out and said doesn't want anything but her car and another classic cars purchased for her. Since then it's changed so many times till now she says a solicitor won't sign unless she gets 60/40. Any solicitor advice I've had from a few all say the final decision is hers but if it goes to court without this finalized first she will get plenty.
    Met and together less than 7 years she had nothing not even car when we met and I had everything even a small motgage. Now we've moved house and have big mortgage and nicer place but currently don't know if I'll own it much longer.
    My actual financial equity hasn't really increased in our 7 years together yet she's going to get half.
    Has anyone heard of different outcomes based on similar circumstances, or solicitors that will listen and sign papers whatever the financial breakdown.
    Any advice would be great, BTW I have my girls every weekend fri, sat and sun nights. So it's almost 50/50 custody.

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    60/40 does seem kind of fair, but I don't really know what you are wanting to know.

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    Hi huffybear I'm sorry I have no advice.

    I'm a single mum with 2 x 2 year old girls but my Husband passed away so very difference circumstances & I don't know much about custody/asset division. Just didnt want to read & not post.

    I hope you can get some help & that things work out for you & your girls.

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    My husband is currently going through settlement for his dad as his guardian (his dad had a stroke years ago and the biartch is now divorcing him and trying to take everything), and his solicitor has told us that in divorce settlement the law always favours the woman, regardless of history, past psycho moments etc. And it sucks!!!

    is she saying HER solicitor wont sign a settlement unless she gets 60%? Because it isnt up to her solicitor, she might be using it as an excuse without trying to claim it all herself?

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    *general info below*

    60/40 is a common split when one parent is the primary care giver and/or where the earning capacity of one party is significantly more.

    The Family Court assesses four factors when determining the division of assets and liabilities;

    1. What each party brought into the relationship (so this is money, assets, debts)
    2. What each party contributed financially and non financially during the relationship (raising children and maintaining a home are considered as equally as important as bringing in a wage so unless there are extenuating circumstances in an individual case the financial/non financial tend to cancel each other out).
    3. Each parties future needs - usually the most important factor and takes into consideration things such as each parties earning capacity, whether they are the primary care giver for children, whether either party have any medical needs that will impact upon their ability to earn an income or whether the same may mean that they have higher financial needs, the age of each party and a few other considerations.
    4. Other factors - eg domestic violence, length of the relationship, any criminal element to a relationship such as fraud and really anything else that is brought to the courts attention as relevant.

    If both parties reach an agreement for 50-50 then this can be drawn up into a financial agreement or consent orders which are often the preferred method as they are stamped by the court.

    You can do this without solicitors, you can download the forms from the court website and you can both complete your sections and sign it. It does not have to have been signed by a solicitor for the court to accept it.

    If a solicitor thinks that their client is being ripped off, or is acting unconscionably then they may agree to do the actual typing up of the agreement/orders but they will not put their name to it.

    The fact that one party left a relationship for another person is irrelevant to the division of the assets/liabilities.

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    Not really sure if this helps but my partner and I split after 7 years also and everything went 50/50. We both worked full time in that period so all our assets were split down the middle. We each kept our own cars and super. We also received 50/50 custody of our daughter which means neither of us pay child support. I wouldn't think it makes a difference if your wife worked or not as home duties are taken into account as contributing in a financial sense.

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    Buttoneska is offline Winner 2010- Most Community Minded Thread Award
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    man, seperations sound tough!

    I have heard 50/50 is pretty common (with some consideration for pre-relationship assets) but didn't realise it could be as high as 60/40? Does that include super? Do you pay child support on top of that?

    I agree with the others that during the living together thing working/not working isn't really taken into account as the person at home is equally contributing to the household (which i think is fair).

    My dad divorced my step-mother and she tried to get everything, including the assets he had acquired prior to their meeting. In the end the took into account the family home but not the pre-existing business stuff. Which I think is fair as they both contributed to the purchase of the house (him a little more but roughly similar). He brought her a new house, a car and had to give her a little cash for herself and her daughter (not his children).

    Ultimately, its your daughter who you want to ensure is looked after so even if that means splitting your asets so both parents are able to afford a roof over her head, plenty of food and clothes then I guess that has to be apositive thing.

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    [QUOTE=Buttoneska;6516726]man, seperations sound tough!

    I have heard 50/50 is pretty common (with some consideration for pre-relationship assets) but didn't realise it could be as high as 60/40? Does that include super? Do you pay child support on top of that?

    60/40 is common when their are children and one party (usually the mother) has been a stay at home parent or she has reduced her income by working part time/changing careers to be the primary care giver.

    The 10% is to reflect the fact that by being out of the working world for a period of time reduces your chances to secure a high paying job and the 10% is to compensate for this.

    In my experience when there are no children 50/50 is quite common.

    Superannuation is included as an asset/financial resource and forms part of the assets to be divided up. It may not end up being split but it is considered unless the parties agree to leave it out of a settlement.

    Child support is generally a totally separate issue and it is on top of any property settlement as it is designed to cover the day to day needs of a child. There are times however when a lump sum may be awarded in a property settlement in lieu of future child support payments.

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    Just a quick one regarding the house, is ex entitle to have a key even though she hasn't lived here for more than 7 months and not contributing to the mortgage in any way?

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    I'm not sure of the law but I reckon as she'd theoretically own half the house she probably is entitled to a key, but if it was me I'd change the locks and not tell her. Just for my peace of mind. Would she even know if you did that? Is she using, or likely to use the key?


 

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