A financial order or property settlement in a separation is an arrangement made by a separating couple about how they will divide their financial and property assets.
Property settlement can be complex and often requires specialist skills and experiences to secure your utmost rights among your family. Our team of Family Law Specialists have extensive experience in analysing property settlement issues, including family trusts and overseas property settlement matters.
How The Court Determines Property Settlement
The Family Court has a wide discretion in making Orders that may alter the interest of parties in property. The Court will not make an Order for property settlement, unless in all circumstances the Order is just and equitable.
Essentially, there are three steps in the determination of a property settlement:
- Determining the net value of all matrimonial property;
- Examining the Contributions before, during and after the relationship; and
- Examining the Future Circumstances of all parties.
After having considered all of the above matters, the Court then has a very wide discretion to make the Order that it considers proper and that in all circumstances is just and equitable.
There are no hard and fast rules for percentage divisions on property settlement, but our specialist lawyers will be able to guide you and advise you as to the likely Orders that the Court will make in your particular matter.
Contact us now and discuss your situation with our family law solicitors. We will offer you realistic advice to your property settlement matter.