Financial contributions can be made by or on behalf of a spouse, and can be for the acquisition, conservation, or improvement of property.
Examples of financial contributions include paying a deposit for a house, paying for renovations, and paying for electricity bills.
Lottery Winnings
Lottery winnings are a financial contribution made during the marriage, provided that the ticket is purchased during the marriage. The purchase of the ticket is usually by a spouse using joint funds. Consequently, lottery winnings constitute a ‘joint contribution,’ and therefore would need to be divided accordingly.
Inheritance
If there are many assets within the property pool, the general trend where inheritances are involved is that the spouse who is the beneficiary of the inheritance would usually be allocated the assets of the estate. If this is not the case, the inheritance is divided amongst the parties.
Compensation Payout
In consideration of a compensation payout as a contribution, it is generally accepted that both spouses have contributed to this asset and are deserving of the benefits of the payout. The injured spouse is entitled to a portion due to his/her suffering and the non-injured spouse due to his/her contribution in caring for the injured spouse.
How can Prime Lawyers help you?
At Prime Lawyers, our family lawyers are experienced in assessing the financial contributions of spouses. If you have made any form of financial contribution to your marriage our experienced lawyers will assist in the calculation of your contributions, and we will ensure that you receive the benefits arising from your contribution that you deserve.