When couples separate, whether they are in a marriage or de facto relationship, they need to divide the property they have between them, unfortunately this can give rise to problems
Most couples don’t realise that Property is everything that you own and includes the matrimonial home, investment properties, shares, superannuation, bank accounts, motor vehicles, collections, artworks and interests in trusts and companies.
There is no exhaustive list as to what constitutes property and it does not matter if there is only one name on title. While there is no set formula to divide property, there is guidance contained in the Family Law Act 1975 and the cases which have been decided by the Courts.
Often the most difficult part of any property matter, is to determine exactly what is to be included for division, the value of the assets and in many cases to trace and discover assets which have been hidden.
The following questions are the most commonly asked when considering a property settlement:
- Do I need to be divorced to get a property settlement?
- Do I share my gifts and inheritance with my former partner after the relationship has broken down?
- Will all my bonuses and incentives be shared with my former partner after the relationship has broken down?
- How do we divide the assets?
- What is an asset that can be divided?
- What if my partner has hidden money and/or assets?
- Who owns the embryo when there is a relationship breakdown?
- Does it matter if property or assets are owned by a trust or company for property division?
- My partner earns more than I do. Do they get more when the relationship breaks down?
- Could gambling affect a property division?
- How do I split a business?
- What is the difference between final orders and a binding financial agreement?
- What is a prenup and do I need one?
- Can I overturn a prenuptial agreement or a binding financial agreement?
- Is our dog (or other pets) property?
As Family Law Specialists and Doyles recognised Family Lawyers, we pride ourselves on our ability to help you through the most complex of situations be it maintenance, children or property related.