Are you going through a separation and wondering what will happen to your property and assets? Property division can be one of the most complex and challenging aspects of a separation, but it doesn’t have to be. Our team of experienced family lawyers is here to help you navigate this process and ensure you receive a fair and just outcome.
In Australia, property division is governed by the Family Law Act 1975. This legislation provides a framework for the just and equitable division of property and assets between separated couples. Our lawyers have in-depth knowledge and experience with this legislation and can provide you with the guidance and support you need to achieve a successful outcome.
We understand that each family’s situation is unique, and we’re here to listen to your concerns and provide tailored advice that meets your individual needs. Our lawyers will work with you to identify and value all assets and liabilities, including property, superannuation, and any business interests. We’ll then help you negotiate a settlement or represent you in court if necessary.
Our priority is to protect your interests and help you achieve the best possible outcome. We’ll provide you with clear and practical advice throughout the process and keep you informed every step of the way.
We’re committed to providing compassionate and professional service to our clients. Contact us today to schedule a consultation and learn how we can assist you with your property matter.
Divorce is a difficult process and can be even more complicated when it comes to property division. There is no right in Australia to an adjustment of property rights between spouses after separation. Only if it is considered just and equitable to alter the parties existing rights to property will a court make orders for property division.
The court will consider the contributions both parties have made to the relationship when determining how to divide the assets. This includes both financial and non-financial contributions, and the time spent caring for the family or managing the home.
The court will also consider the future needs of both parties when determining the division of assets. This includes taking into account the age and health of each party as well as the future earning capacity of both parties and the care of any children of the relationship.
If you’re separating from your partner or going through a divorce, it’s important to understand the laws relating to the premature disposal of assets.
Premature disposal of assets occurs when a party to the marriage or de facto relationship disposes of property or assets without the consent of the other party.
The family law courts may take the value of the property disposed of into consideration when determining a property division between spouses.
The court can make orders restraining the premature disposal of assets to preserve the property available for division to ensure each party receives a just and equitable outcome.
It is important to speak to a family lawyer immediately to preserve the assets for division if there is a risk your former partner may prematurely dispose of assets.
Superannuation is generally treated as property for the purposes of family law property division. This means that it may be subject to division between separating couples if they cannot come to an agreement about how to divide their property.
It is important to note that the superannuation splitting laws are complex, and it is recommended that individuals seek legal advice to ensure that their superannuation is properly dealt with in any property settlement.
An inheritance is generally treated as property for the purposes of family law property division. However, whether an inheritance is included in the property pool and how it is divided will depend on the specific circumstances of the case.
Property settlements are based on the parties’ contributions to the relationship, both financial and non-financial, and their future needs. This means that an inheritance may be treated differently depending on when it was received and how it was used during the relationship.
If an inheritance was received before the relationship or after separation, it may not be included in the property pool for division. However, if the inheritance was received during the relationship and was used for the benefit of the family, it is more likely to be included in the property pool and divided between the parties.
It is important to note that the treatment of an inheritance in family law property division is complex and can vary depending on the individual circumstances of the case. It is recommended that individuals seek legal advice to ensure that their inheritance is properly dealt with in any property settlement.