Upon separation the critical issue of “who gets what” needs to be resolved quickly. However, without an agreement between the parties, a Judge will need to determine the division of your matrimonial pool of assets.
The answers to your questions about the division of the matrimonial assets commence by identifying all the assets, liabilities and financial resources of each party. We then assess all of the contributions by each party under section 79(4) of the Family Law Act 1975 [FLA]; evaluating the future need of each party under section 79(4) and section 75(2). After adjustments for those factors we ensure that the Court is satisfied that any Orders are “just and equitable” as between the parties.
If both parties amicably separate, then Consent Orders or Binding Financial Agreements can be enforced. Part VIII of the FLA lists the relevant legislation governing settlements and the factors taken into account. An understanding of the various adjustment factors listed under section 79(4) and section 75(2) of the FLA are imperative to each case. We can advise you as they apply to your circumstances, based on our experience of the Court’s treatment of these factors.
Unequal contributions, trusts, corporate structures, superannuation, gifts, inheritances, non financial contributions and debts are problems areas typically arising in property settlements. Your case will proceed through various stages ranging from negotiations both in and out of court. If these options have been explored and exhausted without settlement, then a hearing takes place as a last resort. Apart from your children the greatest disputes occur over what each party deem to be a fair division of property.
Individuals typically consult us when faced with an unachievable settlement due to the other parties obstinacy. In reality, we are aware that motives such as revenge, spite, insecurity, mental health, abusive history, breakdown of trust and greed are the most common causes for poor behaviour. We prefer to prevail upon commonsense and experience to resolve matters. We understand that the irrational behaviour of your former partner may negatively affect the conduct of your case.
Some of the cases we have conducted include maintenance, offshore trusts, complex business agreements involving significant forward liabilities, high net worth individuals, self managed superannuation funds, company structures, inheritances, family businesses, debt, interim distribution of funds, restraining the other party’s conduct, cases of waste and residential redistribution.
We attempt to circumvent a former partners acts designed to undermine your entitlements. We present your case in a positive and professional manner appealing to the rational application of the law and the discretion of the Judge.