New Idea reports that Kate Ritchie is feeling overwhelmed by the thought of a “messy divorce”. Kate didn’t have a prenup made when she married in 2010, and she’s worried she’s going to have to hand over half of her $20M net worth to her hubby, who is the stay-at-home dad to 5 year old daughter Mae.
Well Kate, we have some news for you which may help ease your pain – just because you’re married doesn’t automatically mean your ex is going to be entitled to half your assets. That is a family law myth! The asset split is considered on a case-by-case basis, and takes into account what assets and liabilities you came to the relationship with, how you both contributed during the relationship and what are the needs for each of you in future. There are many moving pieces to this situation, and so much will depend on how much of that $20M net worth was built up over their 10 year relationship, and what is hubby’s earning capacity in future.
Taking your case to court will mean years of conflict, expensive lawyers’ fees and an emotional toll which will leave scars all over. But Kate, divorce doesn’t have to be messy – even though these are challenging times right now, you and Stuart can choose a different pathway. Surround yourself with a team of people who will guide you on a co-operative road to resolution – by taking a Collaborative Divorce approach you’re going to experience a much more positive sense of closure to this relationship.
We encourage any client who has a fairly amicable relationship with their ex, especially when that includes wanting to see you both in a good place after separation, to consider engaging in the collaborative divorce process rather than the “norm” of conflict and court. You can learn more about collaborative divorce here.
A Collaborative Divorce will put you in a much better head space as you take flight into your new journey and sets such an important example for your children on how to deal with relationship conflict – Kate, your daughter Mae will thank you for it when she’s an adult and navigating her own relationships in future.
For more details about this better way to divorce, please feel free to call us on (02) 9523 3007.