Guestimates at property settlements

I have read through past posts but have not found much pointing to what the courts in NSW would probably see as a fair asset split as part of a separation and divorce. Understandably this is because it would depend on the circumstances. below are our circumstances hopefully you will be able to give your thoughts on what the asset split would be if this went through to court.

kids to spend 40% time with father
Fathers income double mothers
married 13 years, 3 kids between 8 and 10 yrs
Approximately 900K in assets (including cars, house and super)

Have I missed out anything which would effect the outcome?

How dependent is the % of time spent with the father relevant to the initial asset split (I understand it is central to the CS calculations on a yearly basis)

Thanks for you help. your take on what would be regarded as fair will be very useful.

Mark

Originally posted by MarkJ Have I missed out anything which would effect the outcome? How dependent is the % of time spent with the father relevant to the initial asset split (I understand it is central to the CS calculations on a yearly basis)

If you go & see a family law solicitor to ascertain what each parties just entitlements may be you will probably be asked to fill out a few pages of questions. So yes, there is a great deal of facts & figures that need to be known in order to give you anything other than a very basic idea.

How dependant care levels may be is again subject to circumstances & the merits of the case, but I can tell you that in deciding the division of property interests, the act states that the court is to take into account any child support under the Child Support (Assessment) Act that a party to the marriage has provided, is to provide, or might be liable to provide in the future.

To that extent, if a parent is providing an adequate amount of child support & in a proper & timely fashion, then there is much less of a likelihood that substantial adjustments will need to be made to any division of assets to accommodate for the future welfare of children.

Originally posted by MarkJ kids to spend 40% time with father

Just one additional comment, are there any orders in place yet regarding the housing of the children? If not where does the above statement come from, or is it just wishful thinking at this point in time?

Remember children need some stability, how do you propose the 40/60 thing to work?

Another factor which could affect outcome is the reason why your ex wife's income is half that of yours. Did you always earn double what she earns? Or did her career take a hit from raising kids and now she is less employable?

Perhaps you are getting different legal advice from your ex wife because you are each presenting "your version" of the relevant details. Alternatively, some lawyers will tell potential clients that they may be entitled to more than is realistic.

In the end neither of you probably will get what you want. You both need to compromise to make an agreement. Digging in the heels often costs more in the long run.

Guys, thanks for your take on the likely asset split.

Daisy5,

At the start of the relationship, my earnings capacity was probably in the region of three times hers. within the marriage she has undertaken some full and part time training to up her earning capability, hence the reduction in the pay differential. At the start of the relationship, I also brought in over 100K worth of assets, she had no assets. would this effect the asset split ratio in any way?

Thanks Mark.