When your relationship breaks down, the emotional journey can be a difficult one. All too often we see important financial and property related aspects put to one side while the pain of separation is addressed.
This sometimes means financial settlement is more complex, especially if assets are sold or money is spent. It is best to obtain advice as early as possible to make sure your interests are protected. There are strategies you may not have thought of, that we can advise you on – and sometimes, once you have that advice in your hands, it can assist you to make some immediate decisions and embark upon your own negotiations.
When it comes to deciding how your assets should be divided, despite popular belief, there is no set ‘50/50 property split’ rule. There are many factors to consider when determining what is your reasonable range of property settlement.
Such factors include:
- Your contributions relating to the acquisition, improvement and maintenance of assets of the relationship;
- Your contributions to the household and the family;
- Any special contributions such as inheritances, lump sum payments and gifts;
- Your ability to earn an income in the future to maintain yourself;
- Dependent children in your care; and
- Your health.
We offer an initial consultation to discuss your options for settlement, and how you can take steps to resolve your matter without the need to go to Court. There are many different ways your case can be successfully resolved, and our aim is to help you navigate your way to the best outcome which allows you to begin your new journey.
Most importantly, do not delay – the quicker you obtain advice, the better informed you will be, and the better decisions you will make about your future.
If you need advice on what would be your reasonable range of property settlement, please call Family Law Matters on (02) 9523 3007 or complete the contact form to arrange an initial consultation with one of our Family Law Solicitors.