Uploaded on Nov 28, 2019
Best Property Settlement Lawyers
ADELAIDE FAMILY
LAWYERS
Best Property
Settlement Lawyers
Property Settlement Is
Separate From Children’s
Issues And Refers To The
Division Of Assets
Accumulated Throughout
The Relationship
Property includes all assets and
financial resources, either jointly or
individually held such as:
real estate
motor vehicles
furniture
bank accounts
businesses
shares
collections such as artwork or coins
other investments
antiques
superannuation
pension entitlements
Anything else with a monetary
value
You can apply for property
settlement at any time after
separation and do not have
to wait until you obtain a
divorce. In the case of de
facto couples, you have 24
months from the date of
separation to obtain a
property settlement.
The first step in the process
is to identify and value the
asset pool. This includes all
assets and debts of both
parties – including those
which were brought to the
relationship initially and
those accumulated during
the course of the
relationship.
What You Must Not Do In
Financial Proceedings:
Not tell the truth about
assets or not provide
full and frank
disclosure of assets
and debts
Not dispose of assets
to deliberately avoid
having them included
Not conceal assets or
attempt to destroy
property
There Are Many Misconceptions
About Property Settlement. Here
Are A Few:
That property settlement is not necessary unless you
own real estate or are paying off a mortgage
Your name is not on the Certificate of Title of the former
matrimonial home therefore I have no claim to it
This is my business and the other party has played no
part in running it so they have no entitlement
If I leave the former matrimonial home then I will lose my
entitlement to claim anything
I have the right to keep all and any inheritances and gifts
received during the relationship
Being a stay at home parent has no value in property
settlements
Any order for property settlement also needs to
be clearly just and equitable in the eyes of the
court. This means that it must be fair to both
parties taking into consideration all the factors
noted above. We will advise you in clear terms
about the court process and what you can expect
to receive as a percentage of the net asset pool.
Contact Us
Address: Suite 2/75a Angas Street, Adelaide, SA,
5000, Australia
Contact: (08)8227 0519
Fax: (08)8359 3550
Email: [email protected]
Website: https://adelaidefamilylawyers.com.au/
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