Achieve fair and equitable division of assets with expert legal guidance
Property settlement is often the most complex financial aspect of separation. In Victoria, the Family Law Act 1975 provides a framework for dividing assets and liabilities fairly between separating couples. Our directory connects you with experienced property settlement lawyers in Melbourne who can protect your financial interests and ensure a just outcome.
Australian courts follow a four-step process when determining property settlements:
Determine all property, assets, and debts of both parties, including those held separately or jointly.
Evaluate financial and non-financial contributions made by each party throughout the relationship.
Account for factors like age, health, earning capacity, and care of children when determining future needs.
Ensure the proposed settlement is just and equitable for both parties in all circumstances.
You have 12 months from the date of divorce (or 2 years from separation for de facto couples) to apply for property orders. Extensions are possible but difficult to obtain.
Superannuation is treated as property and can be split between parties. Special valuation methods and splitting orders apply.
Couples can enter binding financial agreements before, during, or after a relationship to determine property division.
Both parties must provide full and frank disclosure of all assets and liabilities. Failure to disclose can result in orders being set aside.
Property settlement is complex and outcomes vary based on individual circumstances. The information provided here is general in nature. For advice specific to your situation, consult with a qualified property settlement lawyer from our directory.
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