Dividing the property and assets of a marriage or relationship between spouses after separation is not always a straightforward process. Although, it can be. Obtaining competent legal advice early on the process is often vital to ensure you have a thorough understanding of your rights and entitlements arising from the marriage or relationship. That’s where we can help you.
In deciding what might constitute a fair and equitable division of your property and assets, consideration must be given to such factors as:
- The contributions made by each party - including financial and non-financial contributions, and contributions in the capacity of home maker and parent.
- Future needs factors – such as the income, property and financial resources of each party, the age and health of each party, the care arrangements of any children of the marriage or relationship, and other possible factors depending on your specific circumstances.
If spouses can agree on the division of their property and assets, this can be legally formalised by way of Family Law Property/Financial Consent Orders or a Binding Financial Agreement. We can assist you with advice and document preparation for either option.
If spouses cannot agree, parties are generally encouraged to consider participating in property mediation. Provided both parties have undertaken full and frank disclosure of all their assets and liabilities prior to mediation, the parties will generally have good prospects of reaching an agreement at mediation with the assistance of competent legal representation and the mediator. Mediation often presents as a cost effective and timely approach to resolving your property/financial dispute. If you are considering mediation, our firm can provide you with competent representation and support during the mediation process.
In the event your matter cannot be resolved by agreement, the Family Law Team at Priest Legal can provide you with competent representation when pursuing or defending property/financial proceedings commenced in the Federal Circuit and Family Court of Australia.
