Property Settlement Lawyers
Need help with a property settlement?
It is stressful enough to have your life turned upside down by a divorce or breaking up with someone. We know how hard it can be for people at any stage of life, but our property settlement lawyers will help you protect yourself and get what's fair!
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We understand that, in many cases, it is more favourable to reach a property settlement without the need for court proceedings. However, should litigation become necessary, our experienced family lawyers are more than capable of representing your interests and achieving the best possible outcome.
Our understanding of small business enables us to deal with complex cases where businesses and trusts are involved. We have access to specialist experts who can help us build the strongest possible case on your behalf.
Family Law Property Settlement
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A divorce property settlement may involve assets such as property, stocks and shares, motor vehicles, and insurance policies. The courts consider a variety of factors in determining the division of assets in a property settlement. These include the financial contributions made by either party before and during the marriage or de facto relationship, non-financial contributions such as homemaking and care of dependents, and future needs of spouses.
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When discussing assets and financial resources in the context of property division, it is important to understand the distinction between the two. Financial resources are those which have a future financial benefit or the ability to generate income in the future. Some examples include an interest in a trust, the ability to borrow funds, long service leave, a future pension entitlement, an anticipated inheritance, overseas superannuation and also tax losses
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An asset, on the other hand, is something which can be disposed of immediately and which will result in a payment being received. The family home, investment properties and other real estate, cars, bank accounts, shares, interests in businesses and cash are all examples of assets. It is important to remember that both categories are considered when dividing property after a separation or divorce.
Why do I need a Lawyer?
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A lawyer can help in a number of ways when it comes to divorce proceedings & property settlement. Most importantly, a lawyer can help you understand what you are entitled to and help negotiate a fair property settlement. Additionally, a lawyer can ensure that the agreement reached is documented properly and fairly, so as to avoid any future conflict between parties.
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What about de facto relationships?
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People who are in a de facto relationship can sometimes still have to go through the property settlement process. Contact us for legal advice.
Negotiating a property settlement
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You should first engage your property settlement lawyers to assist you in negotiating a property settlement with your former partner.
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A good property settlement lawyer will provide evidence as to why you are requesting a certain percentage of the asset pool. This is normally meant to convince your ex-partner to settle the matter, rather than go through the expense of going to court.
The best property settlement lawyers will attempt to keep a matter out of court, and only file in court as a last resort
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The Federal Circuit Court hears all proceedings relating to property settlements.
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You must adhere to the strict time limits when filing an application for a property settlement though. If you are married, you have 12 months from the date of the divorce order being issued. If you are in a de facto relationship, then you must make an application within 2 years of the end of the relationship. If these time limits are not met, you may be granted permission to apply out of time by the court.
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It is important that you speak with your property settlement lawyers about this as every situation is unique.
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Assessing Contributions
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When one party of the family law case do not provide full and frank disclosure of their financial information , a subpoena can be used to get the documents needed. This will help to ensure that both parties have all of the information they need to make informed decisions.
How do you determine an appropriate division?
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Divorce settlements can be a complicated and time consuming process. The courts need to consider many factors to determine what is best for each family member during a settlement.
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In order to come to a final agreement and make an equitable property division, the courts take into account the financial and non-financial contributions made by each individual during the marriage. The courts also have to ensure that children are taken care of, and that the welfare of the family is secure.
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For all property settlements and family law matters, contact Alan Mckimm & Associates Lawyers Sydney.
With an expert knowledge of the family law act and dealing with the family court, we can offer expert legal advice, to help you and your ex partner come to a financial agreement.
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We have history in helping our clients protect their financial needs and assets, and we do everything in our power to come to a fair agreement and settlement with your ex partner so that you dont have to go to court.
As a local family law firm, we provide a boutique experience with our well versed family lawyer, Alan Mckimm who is an expert in property settlement.
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Contact us today for a consultation.