Financial matters are always a concern to our clients.

The separating parties must not only deal with the break down of the relationship, but also the practical day to day issues such as:

• Can I afford to keep the family home and pay the mortgage?
• Will the other party pay child support?
• Can I afford to continue sending the children to a private school?
• How do I support myself and the children on one wage?
• Who pays the debts from the marriage?
• How do I manage to support myself and pay child support?

When a Court looks at apportioning the property between the parties, it does not use a mathematical formula. The individual facts of each case will determine the apportionment.

No two cases are alike.

What is property?

The definition of property is very broad - some examples are:-

• Land
• Family home
• Household furniture and effects
• Shares
• Collectables and antiques
• Money in bank accounts
• Intellectual property
• Motor vehicles
• Superannuation
• Family business/company
• Jewellery
• Tools

What the Court looks at in determining the appointment of the property pool

1. Identify and value the matrimonial assets.
2. Assess financial and non-financial contributions by the parties to the acquisition, conservation or improvement of the property.
3. Consider other matters such as:
     • Age and health of the parties; 
     • Duration of the marriage; 
     • Care of the children; 
     • Payment of child support; 
     • Financial resources such as beneficiary under a Trust; 
     • Amount in superannuation funds; 
     • Earning capacity; 
     • Any other relevant matters.
4. Adjustment of property orders so that they are just and equitable.

One of our friendly team is available for a confidential discussion about your family law matter. Please call us on 9687 9322.