Relationship Property Law
If you have recently ended your relationship with your spouse or de facto partner, it is crucial that you seek legal advice from a lawyer specializing in family law as soon as possible to understand your rights to a property settlement. The end of a relationship can bring about significant changes and it is essential that you are aware of the steps required to reach a fair and equitable division of property, as well as how the final distribution of assets may be affected by your specific circumstances.
Our law firm has extensive experience in handling family law property matters, and we represent clients from all walks of life. Our family law experts will take the time to understand your unique situation and goals, and will provide practical, strategic, and timely solutions to help you achieve the best outcome possible.
Matrimonial Property
Our law firm is equipped to assist you with a wide range of family law property issues, including:
- Securing immediate financial support following separation, including spousal maintenance and temporary property settlements.
- Navigating complex matrimonial property matters that involve trusts, companies, international issues, or rural properties with farming operations.
- Dividing property in cases where the assets are limited, such as a small business or a single significant asset, such as a primary residence.
- Advising clients on their responsibilities regarding future financial support for a spouse or children, including spousal maintenance and child support, and drafting and reviewing financial agreements related to these matters.
- Protecting assets when clients are entering into a new relationship through the use of binding financial agreements.
Spousal maintenance
Maintenance laws apply to all types of relationships, including married couples, civil union couples, and de facto couples. However, the rules for de facto couples differ from those for married and civil union couples. The laws encourage both parties to become financially independent after a relationship ends, but this is not always possible. If an individual is unable to meet their basic needs due to certain circumstances, they may be eligible to receive maintenance (financial support) from their partner. It is important to consult with a specialist family law lawyer if you believe maintenance may apply to your situation.
When can I start finalising the division of property?
The process of finalizing a property settlement can begin as soon as you separate from your spouse or de facto partner. There is no requirement to wait for a specific period of time before starting the process, however, it is important to note that there are time limits that apply if legal proceedings are necessary. Generally, legal proceedings must be initiated within 12 months of the final divorce order being issued and within 2 years of ending a de facto relationship. These time limits are strictly enforced and an extension of time will only be granted in exceptional circumstances by the court.
It is essential to seek legal advice at an early stage to ensure that you understand your rights and the time limits that apply in your case. A family lawyer can advise you on the best course of action for your specific situation and can help you navigate the legal process. They can also assist you in negotiating a settlement with your partner or representing you in court if necessary.
Additionally, it’s important to understand that there are several factors that are considered when dividing property, including contributions made by each party to the relationship, the current needs and future prospects of each party and the rights of any children. A family law solicitor can help you understand how these factors will apply to your situation and can help you achieve a fair and equitable property settlement.
In summary, you can begin the process of finalizing a property settlement as soon as you separate from your spouse or de facto partner. However, there are time limits that apply if legal proceedings are necessary, so it’s best to seek advice from a family lawyer early on to understand your rights and the best course of action for your specific situation.
Do I need to go to court to finalise my property settlement?
Working out a just and equitable division of property can be a complex and nuanced process, especially when there are a large number of assets or liabilities involved. Family lawyers typically use a systematic approach to help clients navigate this process and achieve a fair outcome.
Identify Assets & Liabilities
The first step in this process is to identify all of the assets and liabilities that are owned by the parties involved. This includes everything from bank accounts and real estate to superannuation entitlements and assets held through trusts or companies. This information is used to establish a “net asset pool” that will be divided between the parties.
Contributions To The Relationship
Next, a good family lawyer will consider the direct financial contributions made by each party to the acquisition, preservation, improvement, or maintenance of the assets in question. This can include things like salary and wages, property investments, and other income-generating activities.
Indirect financial contributions are also taken into account, such as when one party sacrifices their own career opportunities to support the other party’s career advancement. Non-financial contributions, such as caring for children, being a homemaker, or renovating a property, are also considered.
Future Needs of the Partys
Finally, family lawyers will take into account the future needs of each party in light of factors such as age, health, financial resources, superannuation, the care of children under 18, and income-earning capacity. This information is used to determine a fair and equitable property settlement that takes into account the unique circumstances of each case.
It is important to remember that the process of finalizing a property settlement can be complex, and it is best to seek legal advice at an early stage to understand your rights and the best course of action for your specific situation. With the right guidance, you can work towards a fair and equitable property settlement that takes into account the unique circumstances of your case.
After taking into account all of the relevant factors, the court will determine a division of property that is deemed to be “just and equitable” in the specific circumstances of the case. It is important to note that no single factor is given priority, meaning that the income-earning capacity of one party does not necessarily entitle them to a larger share of the property than the other party, who may have made non-financial contributions such as caring for children.
It is important to remember that family law is complex and discretionary, and that each case is unique. It is essential to obtain independent legal advice tailored to your own individual circumstances from an experienced professional family lawyer who can guide you through the process and help you achieve a fair and equitable outcome.
