The Family Court of Australia does not regard the efforts of a spouse in building up a substantial business during a marriage or relationship as being any more important, significant or special in the determination of the split of the family assets, than the efforts of the other spouse who may have contributed to the relationship and the welfare of the family in a different, but no less important, way by undertaking the role of home maker and parent who does the domestics and raises the kids.
In every case, the contributions and circumstances of each party must be carefully considered and assessed. All of the contributions made by each spouse are important in working out a fair split, so are the current financial and other circumstances of each party and their future needs arising out of their ending of the relationship.
However, the law makes it clear that the spouse who contributes all or most of the money or pays for the assets of the family through their business efforts (even in terms of million dollar or multi-million dollar incomes, assets and lifestyles) is not thereby entitled merely by that fact to any greater share of the family assets than the homemaker who raises the kids.
Rich and successful spouses often argue that “without my hard work, we would’ve had nothing” as a basis to contend that they should receive the lion’s share of the assets and the other spouse should get nothing or next to nothing for their efforts on the home front. This argument will not impress the Court.
To ensure that you get a fair and proper share of what has to be divided up when you separate, you should talk to one of our family law team members.