What to do if you’ve repartnered prior to having settled your property matters with your previous spouse.

For a variety of reasons separated spouses often do not fully settle their property matters immediately after separation. Separated spouses frequently remain as joint tenants of the former matrimonial home in an effort minimise the upheaval for their children. Separated spouses also often remain joint debtors on mortgages, credit cards and other loans as they may not have the ability to refinance or discharge the debts.

The impetus to fully separate all aspects of financial matters usually arises when one or both of the separated spouses repartner.

If you and your previous spouse still have financial ties and you are looking to repartner or have already repartnered, we suggest that you look into completing the property settlement with your previous spouse as soon as possible. During the settlement process, you should consider:

·         Maintaining a separate bank account to your new partner.

·         Avoiding purchasing significant assets with your new partner prior to finalising the property settlement with your previous spouse, where possible.

·         If you do decide to purchase assets with your new partner prior to finalising the property settlement with your previous spouse, or you have already purchased property together, then you should maintain a clear record of the capital and non-financial contributions you and your new partner are making towards these assets.

You and your partner need to consult a lawyer about making wills and other estate planning matters as soon as possible. At Nevett Ford, we have lawyers who may assist you in estate planning and family law matters.