Expert Property Settlement Lawyers for Divorce

In New South Wales, when a marriage or de facto relationship ends, it is important to understand, in advance your entitlements and legal rights regarding property settlement, spousal maintenance, and child custody.

Property settlement refers to the division of assets and liabilities acquired during the course of the relationship. This includes assets such as the family home, investments, motor vehicles, superannuation, and furniture. In NSW, the Family Law Act of 1975 governs the property settlement process, and the Family Court and Federal Circuit Court oversee its implementation.

In terms of spousal maintenance, one party may be entitled to financial support from the other party if they are unable to support themselves adequately after separation. Factors considered when determining spousal maintenance include the age, health, earning capacity, and standard of living of each party.

Child custody and support are also significant issues that arise during a separation or divorce. In NSW, the welfare and best interests of the child are the primary consideration when determining custody arrangements. Parents may come to an agreement on their own, or a court may intervene to establish a parenting plan. Child support payments may also be ordered to ensure that the child’s financial needs are met.

In New South Wales, the Family Law Act of 1975 governs the property settlement process. Here are the steps that are taken to divide property in a settlement in NSW:

Identify the Assets and Liabilities

The first step in the property settlement process is to identify all of the assets and liabilities that are owned by each party. This includes the family home, investments, bank accounts, superannuation, and any debts. The duty of disclosure must be met by both parties.

Determine the Value of the Assets and Liabilities

Once all of the assets and liabilities have been identified, the next step is to determine the value of each asset and liability. This may require obtaining valuations for property or obtaining financial statements for investments or superannuation.

Consider Contributions

The contributions made by each party during the course of the relationship are considered when dividing property. This includes financial contributions, such as income earned and assets purchased, as well as non-financial contributions, such as caring for children or maintaining the family home.

Consider Future Needs

The future needs of each party are also taken into consideration when dividing property. This includes factors such as age, health, earning capacity, and financial resources.

Negotiate a Settlement Or Commence Court Proceedings

Once all of the relevant factors have been considered, the parties can negotiate a settlement agreement. This may involve direct negotiations between the parties, or the use of mediation or other dispute resolution processes. If the negotiation fails, you will need to commence court proceedings.

It is best to seek professional legal advice when going through the property settlement process in NSW. Our Property settlement lawyers can provide guidance on the legal process, represent your interests, and help you achieve a fair and reasonable outcome.

It is not uncommon for an ex-husband or an ex-wife to delay the property settlement process in NSW. Here are some reasons why this may occur and what can be done about it:

• Disagreement over the division of assets: One of the most common reasons for a delay in property settlement is a disagreement over the division of assets. If the parties cannot agree on how to divide their assets, negotiations can become protracted and time-consuming.
• Hiding assets: It is not uncommon for one party to attempt to hide assets to avoid having to share them. This can lead to delays as the other party will investigate and attempt to find any hidden assets.
• Legal disputes: Sometimes, legal disputes can arise during the property settlement process. These disputes can relate to issues such as the validity of a prenuptial agreement or the ownership of a particular asset.

If your ex-husband or ex-wife is delaying the property settlement process, there are several steps that you can take:

Seek Legal Advice

It is important to seek legal advice as soon as possible if your ex-husband or ex-wife is delaying the property settlement process. A family lawyer can provide guidance on the legal process and help you understand your options.

Attempt to Negotiate

You may be able to resolve the delay by attempting to negotiate with your ex-husband. If you are unable to reach an agreement, you may need to consider alternative dispute resolution processes such as mediation.

Apply with the Court

If negotiations fail, you may need to file an application with the court. The court can make orders to resolve any disputes and can enforce these orders if necessary.

Our family lawyers empathise with the frustration and stress you may be experiencing at this moment. Therefore, we provide a complimentary consultation with one of our specialised family lawyers to everyone. This consultation can provide you with initial guidance, information and comfort.

Our family lawyer will attentively listen to your matter during the free consultation and ask questions to comprehend your circumstances better. They will also help address your initial inquiries and offer general advice on the steps to move forward.