Asset distribution as a result of a separation or divorce requires detailed identification and analysis of all property and debts so that the distribution is fair and equitable for each party. Often high value assets like the family home, superannuation and investment properties are involved, and sometimes items high in emotional value need to be discussed and divided.
With emotions running high during a separation, disputes over property are common and it’s not always possible to reach a compromise. A solicitor that understands the law can help take emotion out of the process, and while still enforcing your rights, can facilitate compromise often where it appeared there was no chance of agreement.
There are other circumstances that can impact the division of assets: marriage duration, items belonging to one spouse, financial contribution towards the asset, Financial Agreements (previously known as Prenuptial Agreements), spousal support and the needs of children may be a factor in the division of a separated couple’s property. By using legal tools a skilled solicitor can also identify any “concealed” assets and ensure they are included in any division assessment.
It’s critical to address all factors as court judgments are final – there is usually no chance to modify the decision at a later date.
Our highly skilled Family Law solicitors, supported by our Property and Business Law teams, will ensure your rights are protected in any asset division negotiation or judgement.