Division of Property and Assets

Division of Property is a term of art used to describe the asset split after the breakdown of a relationship.

The process of calculating a property division between separated or divorced couples involves four steps:

Step 1
Identifying the asset pool of the relationship.  This includes all assets acquired before, during or after separation.
Step 2
Identifying the contributions made to the asset pool by each party to the relationship.
Step 3
Adjusting the contributions for future needs of each party. For example where a mother has the lion’s share of the care of small children and is unable to work in any significant way, her future needs will be greater. This also often occurs when one of the partners of the relationship has a medical condition that impairs their ability to gain employment.
Step 4
An assessment being made as to whether the overall result is fair by analysing all aspects and circumstances of both parties.

Wherever possible our family lawyers seek to achieve the best possible property settlement for you and will guide you through the four-step process either to reach an out of court settlement, which is preferable, or through the Courts if necessary.

CONTACT US

For information on how we can help.