In deciding how the net asset pool should be distributed, the
court considers the following:
The net value of property owned by the parties (usually at the
date of the trial) taking into account the current value of all
assets and financial resources, and subtracting any
Whether it is just and equitable to make an order altering the
parties existing legal and equitable interests, taking into
The financial contributions of the parties.
These include any inheritances, gifts, assets, liabilities and
financial resources owned by either party prior to the date of
marriage or acquired during the marriage. The court also considers
the financial contributions during the relationship and in some
cases following the breakdown of the relationship, such as who
carried out the work that earned the income, and whether both
parties were involved in income earning activities.
The non-financial contributions to the
acquisition, conservation or improvement of any property eg a party
carrying out the manual labour in building a deck and the effect
that the deck had in so far as the increase in value of the
The contribution made by a party to the welfare of the
family, including in the capacity of homemaker or parent,
this includes tasks such as caring for the children and housework
The future needs of both parties, also known
as Section 75(2) factors. These take into account such matters as
the age and state of health of each of the parties, the income,
property and financial resources of each of the parties, the
physical and mental capacity of each party for appropriate gainful
employment, whether either party has the care and control of
children of the marriage (under the age of 18 years), and a number
of other factors.
The court then makes a determination as to what percentage of
the net asset pool should be received by each party.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
Kott Gunning is a proud member of
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
Family law and estate planning strategies can reduce the impact of these risks on businesses and their participants.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).