At Amanda Little & Associates we can assist you with all aspects of property settlements and property division. We specialise in providing advice regarding division of assets and preparing financial agreements.
The Family Law Act and case law sets out a 4 step approach that the Court must follow when determining a property settlement. This includes:
- Ascertaining the value of the property pool;
- Considering the financial and non-financial contributions of each party pursuant to s.79 of the Family Law Act;
- Considering the future care needs of each of the parties pursuant to s.75(2) of The Family Law Act;
- Determining as the final step if division pursuant to consideration of s.79 and s.75 (2) factor is just and equitable.
Division of assets can be complicated and your solicitor will ask you questions such as:
- What assets did each of you have at the commencement of the relationship?
- Was there any lump sum monies received during the relationship?
- Have there been post separation financial contributions by either party?
- Do either of you have care of children under the age of 18 years?
- Do either of you have a disability?
- Does either party have a higher earning capacity then the other?
These questions will assist your lawyer to provide you advice about an appropriate percentage for divisions of your assets.
Wish to discuss your situation?
Please contact us for relevant advice and help in reaching a resolution for your property settlement on 02 4761 6935