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Forum: Off Topic
Thread (Discussion): Family Law - Wasted Assets in Property Settlement
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Message 122855
Posted by tryingtosurvive
on Dec 10, 2003 05:30 AM | Also by tryingtosurvive
| Gender: Male,
Age Bracket: 40 - 49,
State: N/A,
Country: Australia |
Here is what is hppening to a friend of mine. Let me know what you think the Law would do.
She is married to a guy for 20 years. She makes house and looks after the kids he goes off to work. Now in this case the contibution to the asset pool is 50 / 50.
Three years before the divorce the Guy blows % 30 percent of the asset pool whithout telling his wife. To me this sets up an asymetry in the contribution to the asset pool.
It can be demonstrated that the money was not lost as some investment made in good faith on behalf of the family. ie not just bad luck where both parties should expect to take equal share of the responsibility of the loss. (We do not know but we suspect it was gambled away. )
My friend was initially legally represented so the other party bombarded them with meanlingless affidavits and ran up a huge fee - my friend is now broke and forced to represent herself.
The guy has also made the court very hostile by being a bloody minded self represented litigant. He wont pay child support and wants to cut his ex off with nothing. I realise this should not make a difference but the Family Court has a lot of lattitude.
The nub of the question is - Does a covert liqufieing of assets by one party constitute an unequal contibution (ie negative percentage ) to the final contribution to property share AT THE TIME OF SEPARATION ?
I fully realise that the next step is to demonstrate the unequal earning capacity in the future and the courst will adress that as a separate issue.
Penny for your thoughts.
Kind Regards
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Thread
122855, tryingtosurvive, Dec 10, 2003 05:30 AM
122883, Silverthorne, Dec 10, 2003 10:33 PM
122887, marta, Dec 11, 2003 12:14 AM [My reserved opinion]
122919, tryingtosurvive, Dec 11, 2003 06:57 AM [Thank you very much]
122968, Silverthorne, Dec 12, 2003 12:10 AM
122973, tryingtosurvive, Dec 12, 2003 02:40 AM
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