Property Settlement Lawyers Melbourne

We understand that going through separation can be one of the most stressful experiences in your life. Beyond the emotional turmoil, you now have to navigate the complex legal and financial aspects of separating from your partner.

That's where we come in - we are committed to guiding you through every step of the process with transparency and care.

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Property Settlement Lawyers

What is Property Settlement?

Property settlement is the process of dividing assets and liabilities between parties after the breakdown of a marriage or de facto relationship. This process aims to achieve a fair and equitable outcome, considering the unique circumstances of each case. Property settlement covers all assets, liabilities, and financial resources accumulated during the relationship, regardless of whose name they are in or who purchased them.

What assets are we talking about?
Property includes a wide range of items, such as:

Real estate (including the family home)

Bank accounts and cash

Investments, shares, and trusts

Superannuation

Vehicles, furniture, and jewellery

Insurance policies

Inheritances and gifts

Debts, including mortgages, loans, and credit cards

Even assets held in family trusts or acquired before the relationship may be included in the property pool for settlement.
The court generally follows a four-step process to determine a just and equitable division:

1. Identify and Value the Property Pool
All assets and liabilities of both parties, whether owned jointly or individually, are identified and valued. Full disclosure is required from both sides

2. Assess Contributions
The court examines both financial contributions (such as income, property brought into the relationship, and inheritances) and non-financial contributions (such as homemaking, child-rearing, and renovations)

3. Consider Future Needs
Factors such as age, health, earning capacity, care of children, and financial resources are assessed to determine if adjustments are needed for future needs

4. Ensure the Outcome is Just and Equitable
The court reviews the proposed division to ensure it is fair for both parties in light of all circumstances
Ways to finalise your property/financial relationship
Parties are encouraged to resolve property matters by agreement, which can be formalised through:

Consent Orders: Legally binding orders approved by the court based on the parties’ agreement.

Binding Financial Agreements: Private contracts between parties, which must meet strict legal requirements to be enforceable.

If agreement cannot be reached, the court can make orders to determine the division of property and financial resources.
Ways to finalise your property/financial relationship
Property and financial settlements can be complex. It is recommended to seek legal advice before negotiating or finalising any agreement to ensure your rights are protected and the outcome is fair and legally binding.

If you have questions or need assistance with your property and financial settlement, our experienced family law team can guide you through the process, help you understand your entitlements, and work towards a resolution that protects your interests.

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