Helping You Navigate Property Settlements with Compassion and Expertise.
When it comes to a relationship breakdown, property settlement is about more than just real estate. A property settlement after separation involves any combined assets, and the division of ‘who gets what’ will depend on the individual circumstances. The nature of your relationship, the length of time you have been together, whether there are any children involved, and any contributions made to the family unit (financial or otherwise) are all factors that can impact the distribution of assets.
At such an emotional time, it’s important to get clear advice on the way forward. Rockwell Bates are experts in Property Settlement Law. Contact us for a discreet consultation.
If your marriage or de facto relationship has ended with a divorce or separation, you will need to organise a property settlement so that the net amount of your assets is divided between both parties. Can’t settle disagreements amicably with your partner? Get our lawyers to guide and settle any disputes for you. The amount you ultimately receive out of the property settlement will depend on your claim and how its calculated, as each case is complex according to its different circumstances.
There is, however, a time limit to property settlements after a divorce or de facto relationship separation. If you were in a de facto relationship, you have 2 years from your separation to submit a claim. If you were married and then divorced, you have 12 months to complete a claim. There are exceptions to this but they can be claimed on a case by case basis.
When it comes to dividing assets and properties, you want the right property lawyers to guide you through this complex process, and provide you with the expert legal support you need.
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Contact UsIf it is just and equitable to make property adjustment between ex-partners, the Court follows the following 4 step process:
The first step is to identify all the assets, liabilities, superannuation and financial resources owned by both parties, both individually and jointly. This includes real estate properties, bank accounts, investments, vehicles, businesses, superannuation funds, digital assets (eg. Cryptocurrency) and any other relevant assets or debts.
Once the asset pool is identified, the financial and non-financial contributions made by each party during the relationship or marriage are assessed. This includes financial contributions towards the acquisition, conservation and improvement or property and the family as well as non-financial contributions regarding the same. This involves considering how income was applied, savings accumulated or used, inheritances. Contributions at the beginning of the relationship, during and after are considered. Parenting and homemaking contributions are also assessed. A conclusion will be reached which is often referred to as a person’s “contributions-based entitlement”.
Next, the future needs of each party are assessed. Factors such as a person’s age, health, income, and the earning capacity of each person are considered. Other matters that are relevant are when a person has the care and financial support of any dependent children, as well as the duration of the relationship and the standard of living enjoyed during the relationship.
Finally, the outcome needs to be a fair and equitable division of property based on the factors mentioned above. The aim is to achieve a just outcome that considers the individual circumstances of each person. The court has the discretion to make orders for the transfer of property, sale of assets, or adjustment of financial resources to achieve a fair division.
It is important to be aware that there is no precise mathematical formula that can be applied in assessing a person’s property settlement entitlements. We can, though, and usually fairly precisely once we have all relevant information, provide you with a range within which the Court would likely divide the property pool in percentage terms to each party and advise you why.
Our dedicated team of property lawyers are here to provide you with the expert guidance and support you need when it comes to property settlements. We recognise that the division of property is a significant aspect of any divorce or separation case, and we are committed to helping you achieve a fair and equitable settlement that protects your interests.
With our compassionate and human approach, we strive to make the process as smooth and stress-free as possible, ensuring that you receive the best possible outcome for your individual circumstances. Trust us to navigate the complexities of property settlements on your behalf, allowing you to focus on rebuilding your life.
We run 24/7, and we will leave no stone unturned in finding a solution for you.
We offer a mediation first approach and where possible, try to settle before court becomes a requirement.
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We know that matters we advise on are usually a human problem as much as a legal issue.
We understand the sensitive issues that come with Family Matters, Estate Planning, and more.
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All assets owned jointly or separately, such as property, vehicles, shares, etc, are all included in the asset pool, and the value of these assets are determined. Then all liabilities held by both parties are calculated and deducted from the value of the assets. This then becomes the net pool available for division amongst the parties.
Yes, you can. The sooner, the better. You have 12 months from the date of separation or divorce to arrange a property settlement. For de facto couples, you have 2 years to negotiate property settlement from the date of separation. If you don’t adhere to these timelines, you need to apply to the court for consent orders.
In a divorce or de facto separation, property settlement is an agreement between a married or de facto couple to confirm how they will separate their finances after their divorce or breakup. A property settlement after separation can take a minimum of two weeks if parties agree to the terms of the settlement. If disagreements require mediation, it could take a couple of months. We’re here to help, contact us today!
All the property owned by a married couple, in joint or separate names, is known as the matrimonial asset pool. Your house is part of the asset pool, which includes any other real estate, vehicles, superannuation, shares, businesses, jewellery, or tools. Who gets the house will depend on what other assets you own and the fairness of a proposed property settlement. Contact us today for more information.
The time limit for a property settlement after divorce is 12 months from the date of divorce. If you can’t finalise your settlement in this timeframe, you must start court proceedings before the 12 month period expires. Otherwise, you may lose your interest in any property, whether held in joint or separate names. Contact us today for assistance.
If your ex-spouse is not cooperating in property settlement negotiations, you can apply to court for a property settlement. Specific steps must be taken prior to applying for a court order. The court encourages couples to attend mediation and negotiate an amicable settlement if possible. At Rockwell Family Law, our experienced family law team can advise on the process needed. Call us today for sensitive legal advice in resolving your property settlement matters.
Once you have separated, you can start the process of a property settlement as soon as possible. De facto couples have two years from the date of separation to finalise their property settlement. However, married couples only have 12 months from the date of divorce to complete this process, so it’s best to begin your property settlement negotiation before divorce. Get started today with Rockwell Family Law.