Agreeing on the way that financial affairs should be settled after a relationship breakdown can be challenging. Stacks can help to ensure that property and finances are divided fairly, giving due consideration to your unique circumstances.
If your relationship has broken down, you will need to decide how your property and finances are to be divided. This is a difficult but important process.
You will need to consider the following financial matters:
- The division of any assets such as a house, car, furniture and savings
- Spousal support and maintenance
- Child support if relevant
The existence of any agreements, such as a prenuptial agreement or cohabitation agreement, will affect the division of property and finances when a relationship breaks down. These agreements, usually made at the beginning of the relationship, will have covered issues such as the financial settlement (including superannuation) after marriage, financial maintenance of one spouse by another after marriage, and any incidental matters.
In the event that you cannot reach an amicable settlement with your former spouse or partner, you will generally be required to participate in a dispute resolution process, such as mediation. If you still cannot reach an agreement, then an application for a property order will need to be made to the court. This means that the court will ultimately decide on the way that property and finances are divided. You will each be required to disclose your financial circumstances fully to the court.
Stacks Law Firm will look at the details of your particular situation and help you reach a property and financial settlement with your former spouse or partner that offers you the best long-term outcome. We know that this is a challenging time and will approach your matter with the utmost sensitivity and professionalism. In all matters we will try to facilitate agreement between the two parties in order to avoid the need for a court hearing.
Need advice about property and financial settlements? Call us today