Property Settlement - Financial Contributions

Financial contributions may include income from employment, termination payments, prize winnings or other dividends.

The process of identifying the financial contributions of each person forms an important part of the overall process of property settlement.

At this stage of proceedings it is imperative that you disclose all information concerning your financial contributions to the relationship. The court has the power to impose considerable penalties on parties who are not transparent. Armstrong Legal will consistently advise our clients to provide honest details of their financial history.

Identifying the combined financial contributions of parties may also involve consideration of the amount of money held by each former partner at the outset of the relationship.

Expenditure and wastage

The court will only consider any amounts spent by parties to the former marriage or de facto relationship in situations where there is an allegation of wastage.

Wastage is defined as spending more than 10% of the shared weekly income on one of the following:

  • Drugs
  • Alcohol
  • Gambling
  • Prostitutes

 Financial Contributions | Property Settlement Lawyers

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