Contributions made by a party from the date of separation until the matter is finalised are called post-separation contributions.
Post-separation contributions, whether financial and non-financial, may significantly impact part of the assessments and considerations in a family law property settlement.
Financial contributions include ongoing and/or substantial financial contributions provided by one party for the benefit of their former spouse after separation.
Any substantial asset acquired post-separation, such as the purchase of a new vehicle or property, renovation of an existing property, the ability to pay out a mortgage within a short period will all be taken into account.
Non-financial contributions by the homemaker spouse are also an important consideration, particularly where the homemaker spouse’s indirect contributions enable the other party to further their career and accumulate post-separation assets.
In cases where the evidence shows that the homemaker spouse carries the responsibilities well beyond the norm, their non-financial contributions are recognised in a substantial way.
In order to negotiate a just and equitable outcome of the property settlement, the contributions of each party over the relevant period, including post-separation contributions must be considered. Timing is very important when assessing the value of post-separation contributions.
If parties are unable to resolve their differences post separation and a significant amount of time passes, contributions made during that time can become an issue.
Contact our family law solicitor, Veronica Haccou, for advice and to assist in resolving your family law matter quickly and efficiently.
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