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Financial settlement delays

Printed From: AussieLegal
Category: Family Law, Defacto Law
Forum Name: Divorce, Consent Orders, Binding Financial Agreements
Forum Discription:
URL: https://www.aussielegal.com.au/forum/forum_posts.asp?TID=24880
Printed Date: 18/November/2017 at 19:08


Topic: Financial settlement delays
Posted By: Andyjaxon
Subject: Financial settlement delays
Date Posted: 10/November/2017 at 13:02
Hi,
What would be the best way to tackle an ex who wishes not to negotiate a financial settlement. Their thinking may be that the longer they delay it the more chance that they have in benefiting from an inheritance should my only parent pass away after our separation but before a financial settlement.
Are there any cut offs in time or circumstance that would negate any possible claim that could be gained in delaying the settlement process.

I ask the same question above in two different scenario.
1. Prior to the divorce.
2. Post the divorce.

Thanks.



Replies:
Posted By: emca01
Date Posted: 10/November/2017 at 13:14
12 myths from time of divorce. If parent dies tomorrow you would still have a case for inherited fund to not be factored


Posted By: Andyjaxon
Date Posted: 10/November/2017 at 13:20
Sorry!
Does that mean the ex can claim an inheritance? Based on the scenarios mentioned?


Posted By: Eddy
Date Posted: 10/November/2017 at 14:15
I wouldn't think so. I would say that the only assets that are claimable would be those that may have been earned, or gained, whilst together - you don't earn an inheritance and the other half certainly didn't help you to "earn" your parents.

There would be delays anyway if your parent passed - there's generally applying for probate by the executor and waiting some time for others to make claim on the inheritance (contest the will - I think this depends a bit on which state you live in). This process could take several months - the deceased assets are held in the estate during that period and you can't guarantee that distribution will be 100% as per the will.


Posted By: Eddy
Date Posted: 10/November/2017 at 14:19
If you purchased something together with the assets from the estate or both shared any dividends then that would muddy the water a bit. If you two are living separate then I think you are pretty safe from this possibility.


Posted By: Andyjaxon
Date Posted: 10/November/2017 at 14:25
Okay. Thanks Eddy.
It looks like I'm pretty safe.
I still think the quicker the financial settlement and divorce the better.


Posted By: emca01
Date Posted: 10/November/2017 at 16:49
Sorry to be blunt. But is death imminent? Get divorced asap. U need to be separated for 1 yr first. If ex doesn't want to divoice that might hint at their plan.

The inheritance might indirectly get factored in. So who has the greatest need is a consideration. So if u just inherited a million$ the other person could argue that they have a greater need. Judge might not buy the argument but getting it sorted asap removes the problem. Asset division is decided not based on when you separated it is calculated on when the judge makes the decision.

Don't buy any lottery ticketso either...



Posted By: Time101
Date Posted: 11/November/2017 at 10:27
Hi Andy.

Yes she will be entitled to the inheritance due to not being divorced.

Apply asap for the divorce papers.

I honestly think that's why she's holding off.

If she drags the settlement on fir ages which she can and looks like she's doing that...
start the process in family court.. go see a lawyer if not represent yourself its not hard and would save you dollars $$$$.

Family court will sort it out in less than 2 years.

Sad to see that she's holding off just to see what she can get from an inheritance.

Good luck. Let me know how u go.

Pm me privately if you need. Peace.


Posted By: Helpingafriend
Date Posted: 11/November/2017 at 14:42
Less than two years? Oh my sides ...



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