Following the breakdown of a marriage or de facto relationship, reaching agreement about the division of assets can be difficult and complex.

Before meaningful negotiation about a financial settlement can commence, it is necessary to identify and value all relevant assets and debts.  In some situations valuations need to be obtained.

Assets that can be divided between parties can be:

• real estate
• investments and shareholdings
• trusts and trust assets
• cash and funds held in bank accounts
• motor vehicles, boats and personal recreation vehicles
• tools and equipment
• businesses and companies
• superannuation

There are many different considerations when determining what (if any) orders or agreements are appropriate to effect a just and equitable financial settlement between separated parties.  These considerations may include:

• direct and indirect financial contributions made by each party towards the acquisition and maintenance of assets
• non-financial contributions towards the maintenance and/or improvement of assets
• contributions as homemaker and parent
• the financial and other needs of each party into the future.

It is important to be mindful of Important time limits that exist for separated couples to finalise property settlements.

Before embarking on negotiation or Court proceedings in relation to a property settlement, you should obtain independent legal advice about your situation and legal position.  Contact our office to make an appointment to discuss your matter.