Property settlements depend on individual circumstances, and the Court applies a structured approach to ensure an outcome that is fair.
While there is no specific formula or mathematical calculation to determine the division of property after separation, the Court does take the following four-step approach when asked to decide how to split property between parties:
Step 1. Identify and value the assets, liabilities and resources of the parties.
Step 2. Consider the contributions of the parties made throughout the relationship
Step 3. Consider the future needs of each party
Step 4. Determine whether the proposed settlement is just and equitable.
Using this approach, we can provide an estimate of your range of entitlements based on our experience and what the Court might award if the matter proceeded to a full hearing.
With our advice and expert negotiation skills, we work to resolve matters without the need for court involvement. However, if solicitor-assisted mediation does not lead to a resolution, we have the experience to achieve excellent results through litigation.
We will sit with you and take details of the circumstances of the separation, the assets, each parties contributions and your future needs
We must exchange financial disclosure documents with the other side. These documents helps us determine the matrimonial pool
We will give you a detailed advice about your entitlements. Our advice is based on each parties contributions, future needs and what the Court might assess as fair and reasonable in these types of matters
We will enter negotiations on your behalf, directly with the other side or with the assistance of a mediator. If negotiations are successful we will document your agreement
As a last resort, we will initiate proceedings asking the Court to intervene and determine the outcome of your matter
If you get divorced you must start property or spouse maintenance proceedings within 12 months of your divorce becoming final. If you have been in a de facto relationship, you must commence property or maintenance proceedings within two years of your separation.
There is no formula or rule that determines how the property will be divided. The Court is not required to split the property 50/50. It will consider many things, including:
Generally, contributions to the welfare of the family would be considered to be just as important as the contribution of the primary wage earner.
Changes to the Family Law Act in 2009 gave de facto couples similar rights as married couples. The Act states that a couple is in a de facto relationship if they are not married to each other, are not related by family and they have a relationship as a couple living together on a genuine domestic basis. If you are in a de facto relationship any disputes over your children or over property will be treated by law in the same way as for a married couple, if any one or more of the following conditions apply:
If there is a dispute about whether you were in a de facto relationship, the Court will look at things such as:
Under the Family Law Act 1975, a person is in a de facto relationship with another person if they are not legally married to each other, are not related by family and based on the circumstances of their relationship are a couple living together on a genuine domestic basis. A genuine domestic relationship will include consideration of:
Before the Court will determine a de facto dispute you must meet one of the following four gateway criteria:
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As a small Wollongong law firm, we pride ourselves on providing a personal service in which the client deals directly with the solicitor with carriage of the matter. Our focus is on delivering high-quality legal support that is both efficient and affordable.
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