Perth Family Law – Perth Financial and Property Settlement

June 27, 2017 – at 1:58 pm – by Bodekers Family Lawyers

Perth Family Law – Perth Financial and Property Settlement

Following separation, couples usually need to consider property settlement and financial matters. This involves dividing the assets and liabilities of the relationship according to Australian family law. This may require obtaining an order from the Family Court.  This settlement can extend to:

1. family businesses.

2. a trust.

3. investments.

4.an entitlement.

5.superannuation.

6. a pension entitlement.

7. money you owe.

8.  any other liabilities of the relationship.

You can include superannuation  in property distribution.  However, it is not always treated the same way as other property.

Perth Family Law – Perth Financial and Property Settlement – Dividing up Assets

You can include all property in financial distributions.

It is important to divide your property legally. You might divide property by informal agreement. However, if you don’t do this according to the Family Law Act you could be in for a nasty surprise.

It doesn’t only come down to what you own and owe; it’s about what you’ve contributed. The roles you had during your relationship and what contributions you made are considered.

Other factors include any children under 18 and who they will live with. The age, state of health and earning capacity of each party.

Perth Family Law – Perth Financial and Property Settlement – Bodekers Family Lawyers

Bodekers Family Lawyers & Mediators can assist you to resolve property settlement. We use approaches such as mediation, and informal conferencing. This can help ensure the best outcome for all parties.

We provide advice under the Family Law Act, the Family Court Act, other relevant legislation and case law.

Until you resolve matters you should treat all assets and liabilities as of the relationship. . This is done regardless of when they were obtained or whose name they are in.

In Australian family law, the usual approach taken is a four-step process as follows:

  1. What are the assets and liabilities?
  2. What contributions did each party make?
  3. Is the division “just and equitable”?
  4. What are the future needs of each party.