There are two approaches which can be taken in dividing property acquired after separation: the nexus approach and the balancing approach.
The nexus approach involves examination of the property that was acquired and the contribution of the non-owner spouse to matters which concern both parties, after separation. For example, if a husband wins a $1,000,000 prize, but the wife has the responsibility of looking after the kids, full-time, then the wife would be entitled to a proportion of the prize.
The balancing approach is similar to the erosion approach taken when dealing with property owned prior to marriage. Regard is given by the court to the use made of the contribution by the parties and contributions of the other spouse to that asset (eg: if a house of the husband is brought to the marriage, but the wife pays for all bills and maintains the house). The interest of the spouse owning the property may be eroded by the other party’s contribution to it and so the asset is added to the asset pool.
An example of property acquired after separation can be observed in the case of Farmer and Bramley. The after separation, the husband acquired $5,000,000 in lottery prize money. The wife was entitled to $750,000 as she cared for the children after the separation and also cared for the husband during the marriage, nursing him through a heroin addiction.
How can Prime Lawyers help you?
At Prime Lawyers, we have family lawyers who are experienced in assisting clients in dealing with property acquired after separation. We will ensure that any duties undertaken in relation to the property are compensated for and if you are entitled to any property acquired by your spouse after separation that you receive the share that you deserve. Conversely, if you acquire property after separation, we will assist you in ensuring that your spouse does not obtain an unreasonable amount of your property. We strive to achieve the best and most favourable outcome for our clients.