When you come to think about what is a just and equitable property settlement in your situation, you will probably quickly conclude that the law seems to provide you with very little guidance. Your research has led you to understand that your property settlement should be “just and equitable” but how do you translate this into an actionable percentage (%) or dollar ($) amount?
Updated: April 2021 – Case Study – successful settlement in PPP500 case. There is good news for parties to a family law property dispute where the net asset pool is under $500,000 with the launch of a new pilot pilot programme running in Brisbane, Parramatta, Adelaide and Melbourne registries of the Federal Circuit Court of Australia. If you are in a property dispute where the net asset pool is under $500,000 there is now a quicker and more cost effective pathway.
Spousal maintenance is when a former spouse or former de facto partner agrees to, or is ordered to, provide ongoing support to their ex partner following the breakdown of their relationship.
This is known in some countries as alimony. The word “alimony” is not commonly used in the Australian family law system, we call it spousal maintenance.
Since the identification and value of property is usually considered as at the date of the final hearing, a common issue in property settlement after separation is how to prevent the dissipation of assets. Ultimately prevention is the best cure and the sooner a property settlement can be achieved (whether by consent or by final hearing) the better.
This article will discuss three things:
Add-backs to the property pool for property which has already been dissipated;
Using urgent interim injunctions to protect assets and property;
Using a caveat to protect real property such as a house or land.
This is a frequently asked question in family law, what percentage of the property does the wife (or husband) receive after a divorce with children/without children? Fortunately, in addition to our own experience as family lawyers, there is some evidence we can turn to in answering this question.
When a marriage or de facto relationship breaks down property can be divided between the parties. Superannuation is treated as property under the Family Law Act 1975 but it differs from other types of property because it is held in a trust. Superannuation splitting laws allow superannuation to be divided when a relationship breaks down. This is …
If your relationship ends, property may be divided between you and your partner by agreement or by going to court. The costs of getting a formal property settlement can be as low as the costs of getting consent orders or a binding financial agreement prepared. Even if you are able to reach a property settlement …
Separation is when you and your partner stop living together in a domestic or marriage-like relationship. Your partner does not have to agree to the separation, however he or she needs to know that you think the relationship is over. There are no legal processes to become separated. Divorce is the official ending of marriage. …
In a previous blog post about how assets are divided in a divorce property settlement, we touched on the concept of the relationship property pool. Now we take a deeper look at what goes into the property pool. All property of the relationship is considered part of your ‘property pool’. The net asset pool is …
A common family law question is, how are assets divided or split in a divorce in Australia? Perhaps the main thing to realise is that the divorce itself does not divide your assets and money automatically. You can go to court to get your divorce order, but all you are getting is the legal dissolution …
