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After your separation from your former partner, the task of dividing assets and liabilities can be overwhelming and scary. We are here to help. We firmly believe that navigating family legal matters requires more than just expertise, and our commitment is to support our clients every step of the way in a down-to-earth, supportive way. We listen, and we care. We work to achieve the best for you.
Navigating the division of assets and liabilities post-separation can be a daunting task. Our family lawyers offer guidance on property division in accordance with the Family Law Act 1975, ensuring equitable outcomes based on Commonwealth law. There are several approaches to organizing the division of your finances after separation:
The Courts and Lawyers use what is known as the ‘Four Step’ Process to calculate the division of your Assets.
Click Here to Listen to Lauren Patford-Smith speak on the Separation Guide Podcast in relation to property settlements and the four step process.
Time Limits
For married couples: Section 44 (3) of the Family Law Act 1975 provides that ordinarily, property + spousal maintenance applications shall not be filed after the expiration of 12 months after the date on which a divorce order becomes absolute, except by leave of the Court or by consent of the parties.
De facto Couples: Section 44 (5) of the Act allows a period of 2 years following the end of a de facto relationship within which to file an initiating property or maintenance application.
We can help you determine the assets and liabilities of both parties and provide guidance on their allocation between you. After delving into the history of your relationship, we can offer a clear indication of what to anticipate in any property proceedings. Subsequently, we will negotiate on your behalf and prepare all the required documentation to formalise the property settlement.