Divorce. What Is NOT A Matrimonial Asset?

Whilst couples do not enter in to a marriage expecting to get a divorce and considering who should get what out of their marriage if the relationship comes to an end, the confusion on who gets what assets from the marriage, and why, along with the expense and stress that can come with getting a divorce, can be very confusing and a trying process. Divorcing couples who are unable to agree on who how the matrimonial home is divided, and how all of the assets and liabilities of the marriage are divided between them, are often left in the hands of a Judge to decide how their assets should be divided, often leaving divorcing couples with eye watering legal bills to pay, at the end of a lengthily legal process. With many marriages taking place between people who are well into their 30’s, 40s and 50’s plus, it is not unusual for individuals to enter in to a marriage having acquired their own assets. But in the eyes of the law, is it the case that everything each person owns, including assets that they brought in to the marriage, should be divided equally between the parties in a divorce? Can it be argued that assets that you brought in to the marriage are not 'joint' assets’, and that you should walk away with what you brought in? Or do our laws state that once you are married everything that you both owned prior to the marriage becomes a part of the matrimonial pot? In this episode, senior Barrister Michael George and Hatti Suvari discuss all of the above and much more; telling you what you NEED TO KNOW; as always, in Plain and Simple English.