Australia’s most expensive divorce - billionaire husband hands over $180 million + property portfolio

Divorce is inherently complex, but when infidelity enters the equation, emotions can escalate, and financial matters can become even more contentious. In Australia, the issue of financial dependence by a spouse adds another layer of complexity to property division proceedings following an affair, as was made evident in last month’s most expensive divorce. If you find yourself in a marital situation involving infidelity and property division, you need the help of Szabo & Associates’ family lawyers in Sydney to navigate this challenging terrain.

Australia’s Most Expensive Divorce

A wealthy Australian couple married for more than 20 years found themselves in a heated years-long divorce battle after the wife discovered her husband had been cheating on her in their marital home. The wife quit her job soon after the couple was married, as her husband used his fortune to provide her with a luxurious lifestyle. Last month, Family Court Justice Peter Campton ruled that the husband must pay his wife more than $180 million in money and marital property.

Justice Campton made his ruling based on the husband’s extramarital affairs and the fact that the wife was financially dependent on him. He stated that the wife should be able to live her years after divorce in the same luxury she enjoyed during the marriage. This ruling makes this couple’s divorce the most expensive in the country’s history.

Financial Dependence and the Impact of Infidelity

In the aftermath of an affair, the dynamics of a marriage are often irrevocably altered, and financial dependence, which may have existed before the affair, can take on heightened significance. The Family Law Act 1975 dictates property division in New South Wales divorces, prioritizing a just and equitable outcome. While infidelity itself is not an automatic disqualifier, the court considers various factors, including financial dependence, when determining fair division.

How Financial Dependence is Weighed in Australian Divorces

Financial dependence post-affair can impact spousal maintenance and property division in several ways. The betrayed spouse, who may have sacrificed career opportunities or made significant non-financial contributions to the marriage, may be entitled to a larger share of the marital assets to mitigate the financial consequences of the affair. How financial dependence is viewed in the context of infidelity can be complex and includes the following factors:

● Length of dependence: The court may recognize your non-financial contributions if you were financially dependent for a significant portion of the marriage, especially while raising children or supporting your spouse’s career.

● Reason for dependence: The court considers the cause of your dependence. If it stemmed from childcare, health issues, or spousal encouragement to pursue education, it might weigh more favorably for you.

● Impact of the affair: If the affair significantly diminished marital assets due to the unfaithful spouse’s spending, the court may adjust the division to compensate for the loss.

Navigating Property Division After Infidelity

For couples grappling with financial dependence and infidelity in the separation and divorce process, seeking legal guidance is paramount. Our experienced family solicitors can clarify legal entitlements and advocate for your rights during property division and divorce proceedings. We will advocate for a settlement that recognizes the value of your contributions and future needs, considering the infidelity’s impact and, if necessary, we will confidently represent you in court and fight for a just and equitable property division.

Contact Szabo & Associates

Divorce following an affair is fraught with emotional and financial challenges, but even if you are financially dependent, you have rights. Contact our family lawyers at 02 9281 5088 today for a confidential consultation with an experienced NSW family solicitor. We will provide compassionate guidance and protect your financial future during this difficult time.