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PROPERTY DISPUTES, SETTLEMENTS AND SPOUSAL MAINTENANCE

Property settlements and spousal maintenance are a complex area of family law which can be difficult to quantify because of the complex nature of relationships and what each party brings to the relationship.

Many married, de-facto and same sex couples who separate, agree on how they wish to divide their assets. However it is extremely prudent to formalise your agreement, by way of Consent Orders and a binding financial agreement, and have it sealed by the relevant Court.

Where agreement cannot be reached however and negotiation and compromise have failed, the commencement of proceedings in the Family Law Courts unfortunately, may not be avoided.

If your matter does proceed to litigation, the court looks at a number of factors when determining how property should be divided between the parties:

Financial contributions and non-financial contributions of each party in respect of the purchase, maintenance and improvement of property acquired or owned during the relationship, and/or running of a business;
Contributions to the family as a homemaker and parent;
Contributions in respect of gifts and inheritances to one party; and
Future financial needs of the parties determined by the health and age of the parties and any dependents that each may be responsible for.

You have 12 months after your divorce is finalised in which to file an application with the Family Court in relation to the division of property of the marriage. You do not need to be divorced in order to reach an agreement or seek orders through the Family Court in relation to the property of a marriage.

This page is not intended to constitute or be a substitute for legal advice. If you wish to obtain specific advice and consult with one of our family law solicitors in regard to your situation please contact us on (02) 9344 2000 or send an email to family@kydonsegal.com.au.