Financial Settlement

 

When a marriage or de facto relationship breaks down, it is important for the parties that their financial property is divided between them in a just and equitable fashion.

 

A property settlement is finalised by reaching an agreement with your spouse/former partner or by asking the Court to decide the matter.

 

Whether your matter is able to be resolved through negotiation or requires litigation, we can help you to achieve an outcome which reflects your entitlement, gives you financial independence from your former spouse/partner and gives you peace of mind.

 

Our Property Settlement Services Include:

 

  • Negotiating an agreed outcome and applying for Consent Orders from the appropriate court.

 

  • Organising for you and your spouse/former partner to engage in mediation with an accredited dispute resolution practitioner.

 

  • Applying on your behalf to the court for Interim and Final orders.

 

  • Negotiating Spousal Maintenance agreements and/or applying for Spousal Maintenance orders from the court.

 

  • Drafting the necessary evidence to support your application.

 

  • Having your matter litigated before the court.

 

  • Engaging the necessary experts to ensure that items of financial property are accurately valued.

 

It is our goal to provide a property settlement service which is as simple, time-efficient and inexpensive as possible.

Married Couples
 

Parties to a marriage are able to apply to the Family Court of Australia or Federal Circuit Court to make a determination with regard to a property settlement. The approach of these Courts to property settlements is;

 

  1. To determine the net assets of the parties, 

  2. Assess the contributions made by the parties during their relationship,

  3. Consider the future needs of each party,

  4. Have consideration to any other factors relevant to the parties' circumstances.

 

Each matter is different and will vary accordingly. Once the Court has taken the above steps, it will deliver a judgement dividing the marital assets between the parties on a final basis. 

 

 

De Facto Couples

 

Due to Commonwealth legislative amendments, de facto couples are now able to have property settlements determined by the Family Court or Federal Circuit Court in the same manner as married couples. 

 

A person is considered to be in a de facto relationship with another person under the Family Law Act 1975 if;

 

  • The persons are not legally married to each other, and

  • They are not related by family, and 

  • Having regard to all the circumstances of their relationship, they have a relationship as a couple living together on a genuine domestic basis.*

 

The Family Law Act 1975 has responded to the changes in our society and recognises that a de facto relationship can exist between 2 persons of different sexes and between 2 persons of the same sex. It also recognises that a de facto relationship can exist even if one of the persons is legally married to someone else or in another de facto relationship. 

 

Please contact our office if you would like further information in relation to financial settlements. 

 

*For further information on how the Court determines the existence of a De Facto relationship, please see 4AA(2) of the Family Law Act 1975.

Contact Us
      (02) 4229 4988
      Unit 2, 107 Church Street Wollongong
      familylawyers@ritathakur.com.au

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© 2015 by David Gorr