One of the most common misrepresentations in family law property matters is the concept of “I am entitled to half”. Prior to there being any determination as to what division of the assets each party receives, there are some initial steps that must be completed by your Solicitor and ultimately, the Court.
These include:
(a) The disclosure of all of the assets, liabilities and financial resources held by the party’s in their name alone or jointly with any other person. Commonly referred to as the determination of the ‘matrimonial property pool’.
(b) The assessment of the financial contributions, non-financial contributions and the contributions to the care of the family and household made by each party at the commencement of the relationship, during the relationship and since separation.
(c) The identification and assessment of each party’s future needs. For example, an income disparity between the parties, the primary care of dependent children or a medical condition that impacts on a party’s income earning capacity.
Only after the above considerations have been made can advice be provided to you as to what division of the matrimonial property pool is fair and equitable based on your individual circumstances.
Our msl family law team has significant experience in dealing with property matters that range from smaller to larger matrimonial property pools that are coupled with complex issues and intricate corporate structures. The msl team will take all necessary steps to expertly assess your family law property matter, the issues involved and offer you solutions that will assist you with obtaining the best outcome.
The msl team will take all necessary steps to expertly assess your family law property matter and advise you on the following issues:
Division of the matrimonial property pool;
What will happen to your superannuation entitlement;
How will separation effect your business; Trusts and Separation;
Effect of inheritances, windfalls and gifts on your property settlement;
Effects of a financial contribution by your parents or your children; and
How to seek an interest when you have made a financial contribution to the assets of a separating couple.
