The Does And Don Ts Of Matrimonial Property Disputes Article

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The Does And Don ts Of Matrimonial Property Disputes

One of the very first rules students are taught at Law School, when it comes to a division of the matrimonial property, is that a person's entitlement is NOT a "Mathematical Calculation"! In other words, you normally can't just apply a set formula to work out what you are entitled to.

Author: Dr Dogood

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One of the very first rules students are taught at Law School, when it comes to a division of the matrimonial property, is that a person-s entitlement is NOT a "Mathematical Calculation"! In other words, you normally can-t just apply a set formula to work out what you are entitled to. Your well-meaning friends may say that you-re entitled to 50%, 60% or 70%, based on what occurred with someone they know or on what this person says "is the law". If you want to know what your legal rights are, ask an legal expert - not the next door neighbour.

While the laws of matrimonial property settlement vary widely from State to Country, a court is usually required to take into account a whole range of factors in determining how the matrimonial estate should be split up. For example, the court is often bound, by law, to consider the age of the parties, the duration of the marriage, property contributions before and during the marriage, the state of health of each party, any disparity in income levels, assets received by testamentary disposition, homemaker and parent contributions, a party-s financial resources and so on.

Each case depends on its own merits and you would be wise to seek some initial legal advice - pertinent to your marriage and your situation! However, lawyers can be as much a hindrance as a help. They-re ALL expensive and you don-t want the lawyers ending up with most of the "matrimonial cake". The more emotional you are (as against being objective), the higher your legal bill is likely to be! Common sense and reasonableness, combined with sound legal knowledge as to your rights, will usually result in a better outcome for you.

Here are some things to keep in mind: -

1. "Matrimonial Property" can have a much wider meaning than is commonly understood. Eg. Life Insurance Policies, present Pension Entitlements, Superannuation/Retirement Funds, Businesses & so on.
2. Don-t take ANY notice of what your divorcing spouse tries to tell you about the law. Ignore "Bluffs" such as "I-ve got the best Family Lawyer in town" or "You-ll never see a red cent" or "you left me so you aren-t entitled to anything".
3. "Matrimonial Liabilities" extend to unpaid debts or future debts, including any existing income tax liabilities. These must be taken into account so as to ascertain the "net value" of the matrimonial estate.
4. A 50 - 50% division of property is probably NOT appropriate where there are children (under 18 years) of the marriage, even if both parties contributions have been equal.
5. As a general rule, one spouse has no more entitlement to keep the former matrimonial home than the other. It is often better to try and retain it yourself though but NOT if you can-t afford to!
6. Make sure you undertand what you are agreeing to BEFORE you agree to it. By this I mean - understand how you will be affected by what you agree to.

Above all, consider this question carefully - " Will you be financially secure if you agree to what the other side wants?" Marital Property Agreements are usually final! © Barry J. Roche (aka "Dr Dogood")

About Author

Barry Roche (aka "Dr Dogood") is the founder of The Self-Help Club (www.self-helpclub.com) and the author of the ebook, “How To “Win” When Facing Divorce”. He is a former Family Law Specialist who wrote this book specifically for women. The book is available for purchase at http://www.divorceandwomen.com/help.html . Barry is also the author of a 90 page Manual on “How To Beat Your Financial Worries When You Don’t Have A Job” (also available for purchase at http://www.divorceandwomen.com/bookstore.html ).

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The Does And Don ts Of Matrimonial Property Disputes