The Ex-Files: My husband is a big spender, why should he get half my assets?
Question: After 15 years of marriage, my husband and I are separating. Throughout our relationship my husband has been financially irresponsible, and I have always had to take care of our expenses, contributing more (if not all) to the mortgage and bills. This has been particularly difficult over the last few years, and it has contributed to our separation.
I wouldn’t be so upset if he at least tried, but he has done more to deplete our assets than add to them. He spends lots of money on alcohol and luxury items like expensive watches. He has bought expensive cars on hire purchase that we can’t afford. I contribute my salary to KiwiSaver, he does not.
It doesn’t seem fair that he should get half of what I have worked hard to build. I am worried that he will just end up wasting anything he gets to keep.
Answer: New Zealand has a no-fault system. Generally, your property will be split 50:50 regardless of the reasons for your separation or the way spouses/partners have conducted themselves throughout their relationship.
There are limited exceptions; see my previous articles.
Each party are entitled to their half share of the property even if they have had an affair, have gambled and wasted money, have addictions, have been abusive or have otherwise misbehaved. Section 13 of the Property (Relationships) Act 1976 sets out the exception to equal sharing. Section 15 of the Property (Relationships) Act 1976 sets out the orders the court may make to address economic disparities.
When can conduct be considered? To find out and learn about cases where behaviour has been considered extreme enough by the Courts in relation to Section 18A of the Property (Relationships) Act 1976, read the full NZ Herald Ex-Files article here.
