The Law And Property Settlement After Separation

by Barbara Hilton

When you divorce you and you ex-spouse need to decide on how all possessions are divided. Property settlement after separation can be a simple process if you both reach an agreement. However, there may be things you cannot agree on and this can complicate matters.

It is always a good idea to try to reach some kind of agreement when you separate. If not, the courts may have to decide and you may have very little say in the matter. If you are having difficulties negotiating a settlement you have to file an application for property orders. This may be filed in family court or in Federal Magistrates Court. In most cases, you have one year from the time your divorce is final to make this application.

If you leave property settlement after separation to the courts they will use several factors when considering an equal division of assets. They evaluate total marital assets. Things acquired while you are married and before you marry are taken into account. They may include things that are acquired after separation, also. This includes additional or extra income sources.

Any contributions that you make to your total assets will be considered when settling disputes. This not only includes monetary contributions but also duties like housekeeping and taking care of the children. If you receive inheritance or gifts from friends or relatives, this will also be considered as a contribution.

After your total assets are considered and the court has looked at each individual contribution, your future needs are taken into consideration. This includes age and any health conditions that may exist. Ability to earn a steady income is a major consideration. Other future needs are looked at like child support and care. All these things can have a large impact on the final decision of the court.

The court tries very hard to base property settlement after separation for maximum benefit to all parties. Superannuation may be a separate issue but it could be a consideration. For instance, if one partner has paid in a great deal of money to a retirement account, it can be considered a valuable marital asset. This can affect asset division and who gets what in a divorce settlement.

When it comes to determining a divorce settlement all contributions will be taken into account. This includes those before the marriage if there are no prenuptial agreements. As the court attempts fair settlements, there are no automatic fifty-fifty splits. One spouse may receive a percentage of the others pension. However, he or she must be of retirement age to receive the money.

There are many things to consider with separation and divorce. If at all possible you should try to negotiate a settlement for property division. Otherwise, your future will be decided by the government. When you face difficult matters like these, you should have an experienced attorney on your side. This can provide important legal advice and help you get a better property settlement after separation.



You will find a complete summary of the advantages of hiring a <a href="http://www.familylawyersadvice.com.au/property%20settlements/index.html">family lawyer</a> and more information about reputable <a href="http://www.familylawyersadvice.com.au/index.html">family lawyers</a>, today.

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