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If I acquire assets after separation, Can my ex get a share of them?

This question comes up a lot when we are advising clients regarding property settlement issues after a relationship breakdown. In short, the answer is until you have formally resolved and finalised property settlement with your ex, all assets, whether they are in your name, their name, or joint names will form part of the pool […]

If I acquire assets after separation, Can my ex get a share of them?

If I acquire assets after separation, Can my ex get a share of them?

assets acquired after separation

This question comes up a lot when we are advising clients regarding property settlement issues after a relationship breakdown. In short, the answer is until you have formally resolved and finalised property settlement with your ex, all assets, whether they are in your name, their name, or joint names will form part of the pool for property settlement purposes. Simply because you acquired an asset after the date of separation, that is not on its own enough to ensure that the asset will not be taken into account in the final property settlement. The safest course is to finalise your separation, either with court orders, which can be obtained by consent, or a binding financial agreement. Even if everything is amicable and everyone is getting on OK, why take the risk that the situation could change.

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If you need advice on these and any other family law issues please contact one of our family law team in either our Brisbane or Gold Coast office on 1800 217 217

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