Belinda would boast to her colleagues how proud she was that her spouse didn’t have to work. She earned enough for the family and they lived well. Once the children were in full day school, that song changed. Her family company was bought out and staff redundancy planning was well underway. Belinda’s encouragement of her husband to find full time employment was falling on deaf ears. The chasm between her needing him to find suitable work to help support the family and his feeling entitled to continue to be a stay at home spouse continued to grow. Five years on, Belinda decided to separate.
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Valuations in More Detail – family business, land, matrimonial homes
Valuations are an important part of resolving property and support issues in a family law matter. Assets subject to being valued include the matrimonial homes, family businesses, hobby farms, and securities held in investment portfolios. An income stream from investments, rental properties, and family business are also common sources from which support obligations are paid.
The relevant family law legislation does not define the term ‘value’. Courts have relied, in most cases, on the definition of fair market value of an asset.
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