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James D. Ford
James D. Ford, Solicitor
Category: Australia Law
Satisfied Customers: 1601
Experience:  Consulting Principal at Nexus Law Group
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Are all material goods purchased during a marriage

Customer Question

Are all material goods purchased during a marriage considered community property?
Submitted: 2 years ago.
Category: Australia Law
Expert:  James D. Ford replied 2 years ago.
Yes, all assets acquired before, during and after the marriage, as well as liabilities (debts) and superannuation are part of the matrimonial asset pool.. which is split by means of a property settlement - the split is made as at the date of the binding settlement, or as at the date of the Court orders made by consent between the parties, or by decision of the Court. If the parties cannot agree, and an application must be made to the Court - this can be done "as of right" without needing to explain the delay and obtain permission from the Court (in their discretion) up to 1 year after the date of divorce. A binding agreement as to property settlement can be agreed... before, or after the separation... you do not have to wait until after the divorce... and given any settlement splits everything as at the date of the binding agreement.. or Court orders.. the longer the delay.. the more of your after separation assets.. and super.. are included in the split.. and the higher your risk of exposure to liability for debts incurred by your ex.. after separation. Kind regards, James