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Assets after separation

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Spring2012 View Drop Down

Joined: 27/November/2012
Location: Australia
Posts: 4
  Quote Spring2012 Quote  Post ReplyReply Direct Link To This Post Topic: Assets after separation
    Posted: 30/January/2018 at 17:34
Hi, if a partner acquires an asset after separation will that be considered part of joint property?

emca01 View Drop Down
Legal Guru
Legal Guru

Joined: 20/July/2012
Location: Australia
Posts: 2253
  Quote emca01 Quote  Post ReplyReply Direct Link To This Post Posted: 30/January/2018 at 19:45
maybe.... Kinda...
So you win lotto OR you get an inheritance after separation but prior to finalising asset division, it will cause a problem... So you would not have to divide the win.. Lets say you win $400 000 in lotto.... One of the things a court would look at was greatest need... So when dividing the matrimonial assets the other party could argue that they have a greater need to a larger share of the matrimonial assets because you have $400 000 in the bank and they do not.

Don't win lotto until after asset division is finalised.

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