What if the house is not in my name?

 

When relationships are intact, some people make the decision to purchase significant assets in one person’s name only. This is often done for asset protection purposes, particularly when the other party operates a business.

It is not until people are separating, or thinking about separating, that they panic and wonder what this will mean for them financially.

There is no need to panic!

In short, it does not matter whose name the assets are owned in (or the liabilities for that matter). In Australia, the courts have the power to alter the interests of the parties to effect a property settlement.

All assets, liabilities and superannuation of both parties, will be considered as part of an overall asset pool to be divided between the parties.

Contact us to discuss how you can manage your separation in a respectful and collaborative manner.