CARMEL RICKARD: Shining light on marital property regimes
A recent Supreme Court of Appeal ruling shines a light on marital property regimes as they relate to the award of damages following an accident
Suppose you’re injured in an accident and you’re awarded damages in compensation. Very wisely, you invest that award.
Later, you marry in community of property. Unfortunately, the marriage doesn’t last and now, some years later, you are in the throes of a divorce. What is to happen to the money awarded to you to compensate for whatever you suffered — missing fingers, a damaged hip, constant neck pain? Is it your personal money, or is it part of the joint estate, to be divided between you and your former spouse?..