www.news.com.au reports today that Brad Pitt intends to proceed with a multi-million dollar investment notwithstanding that “Brangelina” is no more. This move could significantly complicate he and Angelina Jolie’s property settlement matters.
We are often asked if assets acquired post separation are included in the assets that can be divided between spouses. The answer is often dependent upon the type of asset, the manner in which it was acquired and the contribution that each spouse could be said to have made to it. Strictly speaking the Court must, when being asked to make property adjustment Orders, consider the current financial position of each party, which means the assets, liabilities and financial resources that exist as at the date parties come before the Court.
This often causes issues because of the delays in reaching final hearings and parties (understandable) reluctance to put their lives on hold for what could be up to 2 years pending final resolution of their matter.
However, the acquisition of new assets, sale of existing assets, receipt of inheritances or significant growth (or decline) in a business value can impact the manner in which your assets will be divided. It is important that you seek advice from a Family Lawyer if you are separated and are considering dealing with assets or are about to receive or acquire new assets.
If you need expert and innovative advice in relation to bringing your property settlement contact us at Marino Law for an appointment without delay.
