Relationship property update: 30/70 asset split

August 04 2014

After we had put this Winter edition together, a High Court decision2 was delivered in a relationship property situation involving a Wellington medical specialist and his wife. In the Family Court, the wife had been awarded 70% of the couple’s $1.73 million assets, with the husband receiving 30%. This was a significant shift from the equal sharing regime. The husband’s appeal to the High Court for 50% of relationship assets was dismissed. Justice Goddard disagreed with the medical specialist’s counsel who argued against such a disproportionate split, saying that the wife helped her husband further his career and, in doing so, sacrificed her own earning potential and, as such, upheld the 70/30 division.

² Jack v Jack [2014] NZHC 1495 [1 July 2014]

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