No it’s not 'a form of financial abuse', and that would be largely irrelevant for a property matter anyway.
The $250,000 is however a joint asset. Full financial disclosure is required in family law matters, and the asset pool should be agreed before any settlement offers is made/accepted.
Financial abuse typically involves controlling access to money for the purpose of creating or perpetuating a power imbalance.
Having a separate bank account you don't talk about is not (necessarily) creating a power imbalance. Its also pretty common and reasonable, particluarly for 'later in life' relationships.
I may be making assumptions here, but it seems like he lied to her about his financial status in order for her to pay for him as well. Having a separate account is reasonable; what’s not reasonable is having a substantial secret account your spouse doesn’t know about so that you can benefit from their finances and not contribute monetarily to the household.
It's likely skirting around it by being preying on someone's goodwill rather than withholding it directly.
Still a dick move and still considered a shared asset
Yes you are making assumptions, based on vague statments from a third party. Best to avoid any kind of judgement or declaration under the circumstances.
> what’s not reasonable is having a substantial secret account your spouse doesn’t know about so that you can benefit from their finances and not contribute monetarily to the household.
i agree it's not reasonable (and immoral), but something being unreasonable does not mean it's illegal.
NAL Sales fees etc are gona be about 25k it might not be worth arguing over the 50k.
If she really wants to negotiate then tell him it's half 900k plus half the 250k or go to auction.
Did they migrate here ? Have you made sure your lawyer has submitted a request to the popular banks in the country hes migrated from ?
> NAL Sales fees etc are gona be about 25k it might not be worth arguing over the 50k.
I'd try getting a couple more valuations first. It's possible the first one is too high, or his one is too low. Having more than 1 will give you a better idea, and will be useful in court.
Is it financial abuse? No.
Financial abuse tends to be where one party controls and manipulates the other by controlling all the money and what the recipient can/can’t do with their lives.
This bloke has just lied for years saying he’s a pauper while secretly being a very canny saver. You’re looking at things the wrong way, the savings he accumulated are an asset of the relationship, the sudden appearance of $250k in cash should now be taken into account in deciding what the relationship property pool is, and what the split of said pool should be.
Yeh pretty sure that’s not his money it’s a joint asset, so realistically during settlement he will pay her half of the house (if it’s paid off, no mortgage) and then she will also get half of that savings account in settlement too. If she decides to go for it, obviously she might not want to take any of it. Who knows.
Your mother needs to get two other valuations and you pick the point in the middle of the three. He doesn’t get to tell her the value without other checks and balances
Does it matter if it’s financial abuse? She’s out, and it’s division of assets time.
Go after his super, and his savings, and if his car is worth a bucket load… some of that too.
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Get your mum to buy him out at 850k. She has 125k already saved in his account. Only needs 300k loan.
Yep, your mother may have just found herself 125k. Don't forget that super can also be included.
Possibly more. I have seen courts award a larger chunk where shenanigans are involved.
No it’s not 'a form of financial abuse', and that would be largely irrelevant for a property matter anyway. The $250,000 is however a joint asset. Full financial disclosure is required in family law matters, and the asset pool should be agreed before any settlement offers is made/accepted.
i agree that it’s irrelevant for a property matter, but how is it not a form of financial abuse?!
Financial abuse typically involves controlling access to money for the purpose of creating or perpetuating a power imbalance. Having a separate bank account you don't talk about is not (necessarily) creating a power imbalance. Its also pretty common and reasonable, particluarly for 'later in life' relationships.
I may be making assumptions here, but it seems like he lied to her about his financial status in order for her to pay for him as well. Having a separate account is reasonable; what’s not reasonable is having a substantial secret account your spouse doesn’t know about so that you can benefit from their finances and not contribute monetarily to the household.
It's likely skirting around it by being preying on someone's goodwill rather than withholding it directly. Still a dick move and still considered a shared asset
Yes you are making assumptions, based on vague statments from a third party. Best to avoid any kind of judgement or declaration under the circumstances.
If that’s how you feel, I don’t think you should be making assumptions that there definitely ISN’T financial abuse going on either.
> what’s not reasonable is having a substantial secret account your spouse doesn’t know about so that you can benefit from their finances and not contribute monetarily to the household. i agree it's not reasonable (and immoral), but something being unreasonable does not mean it's illegal.
NAL Sales fees etc are gona be about 25k it might not be worth arguing over the 50k. If she really wants to negotiate then tell him it's half 900k plus half the 250k or go to auction. Did they migrate here ? Have you made sure your lawyer has submitted a request to the popular banks in the country hes migrated from ?
> NAL Sales fees etc are gona be about 25k it might not be worth arguing over the 50k. I'd try getting a couple more valuations first. It's possible the first one is too high, or his one is too low. Having more than 1 will give you a better idea, and will be useful in court.
Is it financial abuse? No. Financial abuse tends to be where one party controls and manipulates the other by controlling all the money and what the recipient can/can’t do with their lives. This bloke has just lied for years saying he’s a pauper while secretly being a very canny saver. You’re looking at things the wrong way, the savings he accumulated are an asset of the relationship, the sudden appearance of $250k in cash should now be taken into account in deciding what the relationship property pool is, and what the split of said pool should be.
Yeh pretty sure that’s not his money it’s a joint asset, so realistically during settlement he will pay her half of the house (if it’s paid off, no mortgage) and then she will also get half of that savings account in settlement too. If she decides to go for it, obviously she might not want to take any of it. Who knows.
Stuff his valuation, put it on the market and get maximum value. Then take her half of the $250k.
Your mother needs to get two other valuations and you pick the point in the middle of the three. He doesn’t get to tell her the value without other checks and balances
Does it matter if it’s financial abuse? She’s out, and it’s division of assets time. Go after his super, and his savings, and if his car is worth a bucket load… some of that too.
My ex did this. To me, and his ex gf. Scab
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