If you are considering separating from your partner or have separated from your partner, contact our experienced family lawyers to obtain advice specific to your situation.
Property settlement under the Family Law Act depends on the circumstances of your relationship, including the length of your relationship, the age of your children (or if you have children at all) and yours and your spouse’s future needs.
Usually when determining the division of assets, the Courts will take the following 4 steps:
- What is the pool of property, determining the assets and liabilities of both parties.
- Who made contributions during the relationship – this includes both financial (direct and indirect), non-financial and parenting and homemaking contributions. This includes an assessment of what property was owned at the beginning of the relationship and by whom.
- Yours and your spouse’s future needs and the needs of the children (if applicable).
- Is the proposed property settlement fair and equitable?
Property settlement entitlements are very fact specific and personalised. To ensure you receive the best advice and outcome that is right for you it is important to obtain family law advice specific to your situation.