Financial & Property Matters
How to divide assets and properties after separation or divorce
What to consider
Normally, at divorce or separation, how the assets and properties are divided depends on:
- Assets and debts, and what they are worth when added together
- Direct financial contributions by each party to the relationship, such as wages
- Indirect financial contributions by each party, such as gifts or inheritances
- Non-financial contributions to the relationship, such as caring for children
- Future needs – such as age, health, financial resources, caring responsibilities and capacity to earn
Going to court is costly, time consuming, and may not result in a decision that you agree with, you can avoid going to court by:
- make an informal agreement
- make a financial agreement
- get a consent order from the court
- Court order where agreement can not be made by consent
Working out property settlement
The family law courts require people applying for property settlements to make a genuine effort to resolve their matter before filing their application
Superannuation is becoming a larger asset for many people. Although it may be many years before you are able to access superannuation, it is important to consider it as part of your property settlement. Different types of superannuation may be valued and split in different ways. It is important that you seek legal advice in relation to your own circumstances.
Going to Court
If you can not come to arrangements on issues relating to property or finance, going to court may be necessary.
For property matters, parties must initiate court proceeding within 12 months from obtaining a divorce if they are unable to finalise property settlement. After this time, parties may be required to seek permission from the court to allow the court to make orders relating to their property matters.
Not sure about your case? Just give us a call
We can help with:
- Your rights and obligations during and after divorce or separation
- Children matters
- Financial and property matters
- Alternatives to court
- Divorce or separation process
- Going to court
Family lawyers at Doconade Laywers prefer working in harmony. Lay your trust in us and our team will do our best to make you enjoy our companion.
Like adults, children react in different ways to separation or divorce, depending on the child’s age, temperament and the level of cooperation or conflict between the parents
Separating is never an easy decision, even emotionally painful. It might be very difficult for you to keep a level head during this time to look at expenses charged for your divorce and things even get more stressful when the budget is also one of your biggest concerns
What you say on Facebook, in a text, in an e-mail, or on any other social networking site can be used as evidence against you