When there is a breakdown of a marriage or de facto relationship, the division of property is often the biggest issue to be decided. Most separating couples are able to work out a property settlement, if they go about it in the right way. What is vital is that they understand their legal rights and obligations and that they obtain advice and assistance from experienced specialist Family Lawyers, such as at Corish & Co, who are dedicated to assisting them to a successful resolution.
There is a clearly defined process which most people need to go through to reach a satisfactory property settlement. This involves gathering together the necessary information and documents to establish and value the asset pool; assessing the contributions of each party to that asset pool in the past and considering the parties’ future needs. There are time limits to bringing court applications being 12 months following or divorce or two years following a de facto relationship.
See our Articles about Property Settlements here.