PROCESS OF PROPERTY SETTLEMENT EXPLAINED
                      
 
  
ADELAIDE FAMILY LAWYERS 
  
https://adelaidefamilylawyers.com.au/ 
 
PROCESS OF PROPERTY 
SETTLEMENT EXPLAINED! 
 
The most difficult part of separation is the settlement of property which 
means which person will get what after separation. Divorce Lawyer SA 
considers it as the most conflict inducing part of a separation. The 
property settlement can be achieved either by mutual agreement 
among both the individuals or by involving the court. However, in most 
cases, people are unable to agree among themselves. Hence, hiring the 
best property settlement lawyers is the best option in such cases. 
 
This article includes a detailed explanation of the process of the 
property settlement. 
 
Step 1 — Determining the asset 
pool 
 
This is the first step that is done with the help of a court. The court 
determines the value of your and your partner’s assets. Every asset is 
taken into consideration whether you own it individually or jointly. The 
assets include property, shares, cars, jewelry, savings, furniture, etc. 
The liabilities are also considered which include mortgages, car loans, 
personal loans, and credit card balances. Usually, the items are valued 
by the court during the date of hearing. The value of the items can be 
decided by a valuer or by agreement. 
 
Step 2 — Contributions of each 
person 
 
The court will then consider contributions made by both the people in 
the relationship. It includes financial as well as non-financial 
contributions. It also includes contributions made in the form of a 
homemaker or a parent. Every single effort including gifts, inheritances, 
renovation or money received during the marriage is determined.  
 
 
Step 3 — Future needs of each 
 
In the third step, the future needs of you and your partner are assessed 
by the court. The future needs are assessed taking into account all the 
factors such as age, income earning capacity, health, property, and 
resources of each party, care of a young child and payment of child 
support. At this step, the court also considers the adjustments needed 
for the future needs of the partners. Once the individual needs of each 
party are determined, the court will divide the Net Asset Pool. 
 
Step 4 — Just and equitable 
 
Once all the previous steps have been followed and the assets divided, 
the court reaches its final step. Here, the courts review its assessment 
and look to see whether the percentage of division and allocation of 
assets is just and equitable. The court will also consider the long term 
effect of the settlement on each partner. Once everything is reviewed, 
the court will then finally divide the net property to reach the property 
settlement. 
 
The process of property settlement is not a simple one. Hence, it 
cannot be achieved at an individual level. Each party must have well-
experienced lawyers. Adelaide Family Lawyers provide specialized 
consultation with experienced family lawyers to assess your matter and 
offer comprehensive advice. Contact Adelaide Family Lawyers to make 
an appointment today. 
 
 
Adelaide Family Lawyers 
Address : Suite 2/75a Angas Street, Adelaide, SA, 
5000 Australia 
Ph No. : (08)8227 0519 
E-mail : [email protected] 
Website: https://adelaidefamilylawyers.com.au/