50-75% of the savings made during the 5 years of marriage
25-50% of the savings made during the 5 years of marriage
10-25% of the savings made during the 5 years of marriage
Up to 10% of the savings made during the 5 years of marriage
Nothing
Trying to lighten the mood a little, this was the best definition I ever heard of a diva. It made me burst out laughing, it is brutally honest and thankfully came from the lips of a woman not afraid to pull any punches. Starts at: 4:55
Sadly for many men divorce can mean the loss of his home, half his monthly paycheck and, sadly, his children.
Can't wait to sign up a second time.... Not!
Surely the result would be the same even in a non-marriage relationship; is it not true that law treats cohabitating relationships as if they were married?
Not true I'm afraid (certainly vis a vis the law in England & Wales and I suspect in Australia). It's a common myth as is the notion of the common-law wife of husband. There is legally no such thing.
The disadvantages of being a co-habiting couple are:
- There are no tax advantages
- Neither party can claim on the other's pension entitlement
- If the mortgage deeds are in one party's name only the other party cannot make any claim regardless of who made the payments
- Neither party can claim maintenance from the other (spousal maintenance that is - not child support)
- Unmarried fathers get a particularly raw deal and do not have the same rights as unmarried mothers regarding contact post separation.
Of course, any assets can de divided up upon separation either by consent or on application to the courts but it will hard to divvy them up if no records have been kept.
Best thing to do would be to get a Cohabitation Agreement drawn up where both parties receive independent legal advice.
There were plans in the UK when I left in 2006 to give co-habiting couples the same legal rights upon separation as married couples but I am not aware of the Bill being approved. There was a strong argument that it undermined the principal of marriage and had strong opposition on both sides of the House and from religious groups.
Just to add to the above there are no automatic inheritance rights upon the death of one of the co-habiting partners. As the law (in England & Wales) does not recognise common-law partners there is no automatic transfer of property/assets upon death of one party to the other. Unless a Will is drawn up highlighting such an agreement, any assets will pass to the next of kin.