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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

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The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

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A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.

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Home sale proceeds investment before divorce

  • Grummble
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27 Jun 12 #339414 by Grummble
Topic started by Grummble
Hi All,
Hope you can help

My wife and I are seperated and planning on divorce.

We are planning on selling our home and splitting the proceeds down the middle.

If I take my half and invest them into my business does that mean when we come to actually divorce she would be entitled to a share of the business?

Or having sold the asset (our home) before divorce proceedings, does my investment not count towards our assets spilt once divorce is finalised?

  • jar of hearts
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27 Jun 12 #339416 by jar of hearts
Reply from jar of hearts
Hi Grummble

Not an expert here, but having been through this very recently, your business is already an asset which will need to be considered in the financial settlement. In preparation for the financial arrangements you will both need to complete a form E which lists ALL or your assets. This includes businesses, jewellery, cars etc etc as well as property and savings.

You would be well advised to discuss this decision with either your solicitor, if you have one, or with the mediation service advisor if you are going down that route.

  • sexysadie
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27 Jun 12 #339429 by sexysadie
Reply from sexysadie
I see you are in Australia. Unfortunately most of us here don''t know much about Australian law so any advice you get is likely to be unreliable. You need to talk to a local lawyer, unless you are divorcing here.

Best wishes,

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