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:-
a. Age and health of the parties;
b. Duration of the marriage;
c. Care of the children;
d. Payment of child support;
e. Financial resources such as beneficiary under a Trust;
f. Amount in superannuation funds;
g. Earning capacity;
h. Any other relevant matters.
4. Adjustment of property orders so that they are just and equitable.
