Property Settlement Lawyers After Divorce Or Separation
The process of divorcing or separating can be emotionally draining and difficult. Sometimes, it may take a long time to be able to settle things with your ex.
Following separation, it is extremely important that you consider how you will divide your property.
Property settlements in Australia are governed by the Family Law Act 1975. During a divorce or separation, the court will apply the principles set forth in this Act when dividing property.
In determining a “fair and equitable” division of the property pool, the court will consider all relevant Factors, such as:
- Relationship duration
- Contributions made by each party to the acquisition, maintenance, and improvement of the property
- Any children from the relationship must be taken into account
- Each party’s financial resources
- Earning capacity of each party
- Ages of both parties
- The health of each party
- Other relevant factors
In the event of a divorce or separation, it is important to seek legal advice from an experienced property settlement lawyer like the team at Justice Family Lawyers.
Our team can help you understand your rights and entitlements under the law and negotiate a fair and equitable property settlement.
How you can benefit from hiring the Property Settlement Team at Justice Family Lawyers:
- Our role is to help you understand your legal rights and entitlements. A complex piece of legislation like the Family Law Act 1975 can be difficult to understand without legal advice. Our family lawyers can help you navigate the law and advocate on your behalf.
- Negotiating a property settlement can be emotionally and mentally draining, so having a legal representative to help you navigate this process is instrumental to achieving a great outcome.
- If you are unable to reach an agreement with your ex-partner then you may need to go to court. If this happens then we will appear on your behalf and prepare the required court documents.
If you are going through a divorce or separation, seeking legal advice from one of our a property settlement lawyers is an important first step.
Our lawyers can help you understand your rights and entitlements under the law and negotiate a fair and equitable property settlement on your behalf.
If you’re looking for a good property settlement lawyer, here are some tips you should consider:
- Consult friends, family, and colleagues for recommendations.
- Make sure you interview several lawyers before making a decision.
- A family lawyer with a good reputation and experience should be your first choice.
- Inquire about the lawyer’s fees and payment arrangements.
- Be sure your lawyer represents your best interests and that you feel comfortable with them.
- Feel free to read testimonies of previous clients online.
When going through a divorce or separation, it is important to remember that you are not alone. A property settlement lawyer can help you get through this difficult time.
Financial Matters On Property Settlement
When negotiating a property settlement, all assets and liabilities will be be taken into consideration.
This could include credit card debts, mortgage debts, personal loans or finance owing on your vehicle.
All assets and debts owned by you and your former partner must be discussed and dealt with in order to achieve a successful property settlement.
Failure to mention certain assets may result in the property settlement being overturned by the courts on the basis that it was not fair and equitable.
You acquire assets such as your family home, investment properties, cars, bank accounts, and superannuation during your relationship.
Once you separate, you need to agree on how the assets and debts are to be divided fairly. This is all covered in your property settlement.
Good property settlement lawyers will be able to tell you how much you should receive from your divorce or separation.
Negotiating A Property Settlement
The first step is to attempt to negotiate a property settlement. As part of the negotiation process, the parties will attempt to argue why they should receive a certain percentage of the asset pool. In doing so they may refer to their financial and non-financial contributions throughout the relationship.
The best property settlement lawyers will attempt to keep a matter out of court and only commence proceedings as a last result.
If you cannot agree, the Federal Circuit and Family Court of Australia is the appropriate Court to file proceedings concerning property settlements.
You must ensure that you follow the strict time limits if you want to file an application for property settlement.
If you are married, you have 12 months after a divorce order has been issued.
If you are in a de facto relationship, then you must make an application within 2 years of the end of the relationship.
If you have not filed within these limitation periods, the court may grant you permission to apply out of time.
You should speak to your property settlement lawyer to discuss out of time applications.
How Much Will I Get From My Property Settlement?
When you separate, you will want to understand how much you will receive from your divorce property settlement.
Under the Family Law Act, the Courts can make changes to parties’ property interests if they think it is just and equitable to do so.
When making this order, the Courts need to consider each party’s financial and non-financial contributions to the assets and liabilities.
They also need to ensure that the welfare of the family is secure, and any children of the relationship are taken care of.
This is what makes a divorce property settlement difficult.