Achieving a property settlement can be a long and painful process. Early provision of honest and accurate information and having realistic expectations can greatly reduce the pain.
Divorce and separation is not easy. With this in mind, I turn your attention towards the property settlement.
A property settlement involves the division of marital assets between separating partners. This can be a highly emotional process and as such both sides may become vindictive. If this happens, the process is all the more painful and drawn out for all concerned.
Despite the obvious difficulty, an amicable approach is always favourable – especially where children are involved.
If an amicable settlement cannot be reached, you will need to involve the courts. The courts will require, among other things, the following:
- A detailed list of all marital assets, liabilities, income and superannuation, with agreed values or appropriate valuation evidence included in support;
- Details of the assets, liabilities, income and superannuation that each partner brought to the relationship;
- The contributions each partner made to the accrual or preservation of assets etc. during the relationship;
- The length of the relationship;
- Details of care provided to any children of the relationship;
- Details of any personal behaviour that might affect settlement, e.g. gambling or drug addiction;
- Age and health of each partner.
If this information is provided to your solicitors in advance, they may be able to mediate an agreement without recourse to court in the first instance.
If you have any questions regarding family law or require assistance with a property dispute, feel free to contact our office.