Who keeps the Inheritance, Injury Payouts & Redundancies in Divorce? Your General Guide to Lump Sums in Property Settlement.

Are you grappling with how lump sums, like inheritances, personal injury payouts, and redundancy payments, are treated during your divorce, de facto separation property settlement in Australia? 

Have you received an inheritance from a beloved family member and don’t know if it might have to be shared with your ex-spouse? Not to worry, because in this episode, we're exploring the many different possibilities and outcomes when it comes to lump sums of money in property settlements.

We're here to address your concerns, draw insights from real-life cases, and provide general guidance even if you're not going to family court.

It's a lot to unravel, we know, but understanding how the courts perceive these situations and what rulings have been made in the pasts can help you effectively navigate these issues during your mediation or settlement discussions with your ex-spouse. 

Listen now to gain valuable strategies for protecting your financial interests during property settlements involving lump sums. Learn how different scenarios impact the division of assets and ensure you're making informed decisions.

 So, whether you're facing an impending separation, in the midst of a divorce, or simply curious about how lump sums fit into property settlements, tune in and empower yourself with valuable knowledge. Your freedom & financial future awaits – let's tackle these challenges together! 

Please note this is general education only, this is not legal advice. Please always seek independent legal advice as everyone’s situation is different. 

Who keeps the Inheritance, Injury Payouts & Redundancies in Divorce?

Your General Guide to Lump Sums in Property Settlement.

You Don’t Want to Miss Out On

• How do you deal with lump sums in property settlement?

• Is it really fair if you get an inheritance from a passed-on parent or family member and then half of it ends up having to go to your ex in a property settlement?

• What about personal injury claims? How are they treated in property settlements?

• What happens if someone hasn't claimed their personal injury settlement yet, but they can?

• How are redundancy payments handled during property settlements?

• Can redundancy payments and other lump sums be counted as property if they're just sitting in a bank?

• How does the court consider redundancy payments and other windfalls used to improve the family home?

• What are the strategies for protecting your financial interests in property settlements involving lump sums?

• How can different scenarios impact the division of assets?

• How can individuals ensure they are making informed decisions regarding lump sums during divorce proceedings?

• Are redundancy payments, long service leave, and bonuses all included in the same category, or are bonuses different?

• How does the court treat long service leave, especially if it's used for purposes like going on a holiday or buying a house?

• What about bonuses? How are they treated in property settlements?

• What happens if someone uses their long service leave to buy a house or goes straight into another job?

• How are bonuses considered, especially if they are based on performance or company performance?

• If an ex-spouse receives a bonus before property settlement, does that bonus become part of the property pool?

• How does the court handle personal injury claims or inheritances received before marriage or before entering a de facto relationship?

• Can you prevent certain assets, like inheritance, from being divided during property settlement through specific wording in a will?

• Is there a way to ensure fairness when an ex-partner is trying to avoid touching certain assets like inheritance, personal injury claims, etc.?

• Can the knowledge and information discussed in this session be used during mediation or negotiations with legal letters?

• What are some common attitudes people have towards not touching specific assets during property settlement, and how does that impact the overall outcome?

• Is it possible for someone to "technically not touch" an asset like inheritance, but still have it affect the property pool distribution?

• How can one disclose assets like potential personal injury claims or inheritances during the property settlement process?

• Is it possible to set up wills to prevent specific assets from being divided during property settlement?

• What factors contribute to a fair property settlement according to the Family Law Act?

• How can someone deal with the emotional side of property settlement, especially when it involves assets like inheritance or personal injury claims?

• Why is honesty important during property settlement negotiations?

• How can mediation or involving a court help in reaching a property settlement agreement when negotiations reach an impasse?

 

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Episodes Mentioned in this episode- Link to listen below

Untangling your finances: your property settlement for divorce or separation explained.

 

Your Future Needs and how it affects your divorce and property settlement Part 3: Sorting your property settlement in divorce

 

Sorting your property settlement in divorce: Part 2 Non financial & financial contributions during and after marriage.

 

Sorting your property settlement in divorce: Financial Contributions before cohabitation and how it affects your property statement

If you need emergency help you can also contact:

• WOMEN'S SHELTER SERVICE 

• LEGAL AID

• Lifeline 13 11 14

• Mensline Australia 1300 789 978

• Kids Help Line 1800 551 800

• Aboriginal Family Domestic Violence Hotline 1800 019 123

• Relationships Australia 

• Police on 000

• DVConnect Womensline on 1800 811 811 (24 hours, 7 days a week) Note: This number is not recorded on your phone bill

• DV Connect Mensline on 1800 600 636

• National DV line on 1800 737 732.1800RESPECT 1800 737 732

Make sure you hit SUBSCRIBE so you don’t miss out on the next practical steps and guide to your divorce or de facto separation coming soon. And, if you’ve found this episode helpful, please leave a rating and a review so it can help others. Thank you. 

Please note this is general education only this is not legal advice. Please always seek independent legal advice as everyone’s situation is different.