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Financial Seperation Question

Is there a statue of limitations on when my x can make a claim against my house and super

Hi All,

A friend of mine was divorced last December.  He has made an agreement with his x that if he pays her $100,000 she will agree that financial matters are settled.

He is under the impression that if his x makes no claim against his supper and house for 12 months after the divorce then she cannot ever make a claim against him.  Therefore the agreement they have reached is to wait for 12 months and then pay her the $100,000.

Question is this assumption correct.  I am worred that he will wait, pay her the money and then some time later she will come back at him for a portion of his super as he has a defence pension and a large amout of super.

Carring on from the question should he instead formalise the agreement through the court?

And will the court raise an issue because the amount is not enough?

The reason why they agreed the amount was because she owed him a large amount of money for other debts which he paid.

Thanks for the help.
Get it formalised through the Court system.

It wont cost much to get a solicitor to draw up the paperwork.
She will have to seek legal advice too.

however, if done right - there will be no comeback in the futre.

The 12 months "waiting period" for property is a fanatsy.

Get it done by the courts and she will have almost no chance of future claims.  Ever.
Yes he should formalise it legally. Generally an application must be made within 12 months of a divorce becoming final.

However be warned that the FLA does have a provision which allows a party to apply to the court after 12 months. However before granting leave the court must be satisfied there are good grounds eg hardship,illness, unrevealed assets.

In the case of Ordway [2012] FMCAfam 624 (13 July 2012) the Federal Magistrates Court (now known as the Federal Circuit Court of Australia) granted leave to hear a property settlement 26 years after a Divorce was granted to the parties. So there are avenues for out of time applications.
There are avenues, however, that if your friend has knowingly & willingly hidden the super (unrevealed assets) that his ex could claim in the future (I presume under the statutes of limitations).

Under Family Law superannuation is considered a financial asset in the same way as property, bank accounts & shares etc. If the ex has agreed that she will not make a claim on the super (with full disclosure by your friend) then get that formalised in the orders.

"I know that you believe you understand what you think I said, but I'm not sure you realise that what you heard is not what I meant."

 
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