Wednesday, 26 March 2014

What happens if you are made redundant?

In these uncertain economic times it’s important to be mindful of the potential impact of a redundancy or a possible redundancy on a property settlement.  It’s important to fully disclose to your lawyer if you have applied for a redundancy even if it’s after a separation.  It may be relevant in the property settlement negotiations.

A redundancy payment received after separation (but before a family law settlement) and applied to a new property is likely to be “added back” into the matrimonial asset pool, so we recommend you finalise your property settlement as soon as possible after a separation.

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