Property and finances after separation

Your entitlements with respect to your property settlement are based on the principles of property division set out in the Family Law Act 1975 (Cth) (“the Act”). The Court has a wide discretionary power based on the facts of each case.

Generally speaking there are five steps which are followed to determine a party’s entitlement to an adjustment of their interests in their or their spouse’s property as a result of the breakdown of a relationship. They are:

  • To determine whether or not it is “just and equitable” to make any adjustment to the parties’ interests in the property available for division in the first place;
  • To identify and value the property;
  • To consider the parties’ contributions;
  • To consider the future needs of each party; and
  • To consider whether, in all the circumstances of the case, the proposed order is “just and equitable”.

To discuss property division after a breakdown of a relationship call us on 0401 547 417.

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