Property and Family Law matters can be complex, especially where there are a multitude of assets and corporate entities or you have little or no access to the financial documents or circumstances of your former partner. If you or your former partner have assets overseas, or assets are held in company or trust structures or where money has been inherited, gifted or loaned, we know what to do and will provide you with expert and proactive legal advice and representation. We are committed to fiercely protecting your property interests and advocating for you to get a fair property settlement.
We know that in the majority of cases a property division happens only once and you get one opportunity to finalise your property matters, it is with this in mind that we conduct all property matters with vigilance and thorough investigation of the financial circumstances of you and your former partner.
At Cominos Family Lawyers, you can be assured that we will do everything possible to protect your property interests. Where there are children involved, then it is even more important that you know your rights and we as your family lawyers are acutely aware of the importance of a fair property and financial settlement.
Under the Family Law Act 1975 (Cth) the definition of property is wide and includes the house you live in, shares, cars, business and assets held in a trust and even superannuation.
Property in any separation or divorce matter is divided according to principles of the Family Law legislation. Under this legislation, there is a general step by step approach that is used to work out what you may be entitled to.
Identify the current assets and financial resources of the marriage or relationship. This means that all property, which includes real property and personal property be identified and valued. Property also includes superannuation, shares and any other financial resources that are available to you.
Step 2 looks at the contributions made by both parties to the purchase improvement and preservation of their assets. Contributions include assets brought into the marriage or relationship. It also includes contributions directly to the assets by income earnt. If for example, one person was a home maker or stay at home parent, then this contribution will be considered and acknowledged.
Step 3 considers what each party will need in terms of financial support or security in the future. Sometimes, one person, may need additional support because they are unable to work due to caring for and raising children or illness or because they have been out of the work force for some time. These factors must be considered.
In step 4, after considering the range of factors, we determine whether the division or adjustment of the property is just and equitable and whether the property each person receives is a fair distribution of the assets of the relationship.
We would love to hear from you. If you have any questions or wish to make an appointment to see one of our competent senior lawyers please call us on 02 8999 1800.
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