Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 25 February 2017.
Cynthia and Robert have been married for ten years and have two children who are nine and seven years of age.
Unfortunately, their marriage breaks down and Cynthia and Robert separate.
Cynthia has the major care of the children after separation and is only able to work part-time, earning a much lower income than Robert.
Cynthia and Robert own a home with a mortgage. They each also have superannuation entitlements, small savings and a car.
They had few assets at the commencement of the relationship and accept that during the relationship there has been an equal contribution to the acquisition, conservation and improvement of their assets.
Even though Robert was the major income earner, Cynthia was the major carer of the children and her indirect non-financial contribution towards the acquisition, conservation and improvement of assets, together with her earnings from part-time employment is seen to be equal to Robert’s contribution.
Cynthia and Robert see separate solicitors to negotiate a property settlement and it is agreed that Cynthia should receive 60% of the total asset pool because of her inferior financial position in terms of her income and her role as a major carer of the children.
The solicitors draw-up consent orders (which includes the sale of the house) and an application for approval of consent orders for filing in the Local Court.
The court makes the orders without any amendments. The process is relatively quick and cost effective.
Cynthia and Robert are able to make their own arrangements relating to the children and the time that they spend with each of them. Robert pays Cynthia child support in accordance with the prescribed amount under the legislation, after they both work out the amount payable on the Child Support Website.
If you would like Manny to address a particular legal issue, send your request to manny.wood@ticliblaxland.com.au or call him on (02) 6648 7487.
