Aside from the family home, superannuation has become one, if not the most valuable asset accumulated by individuals during their working life. In this blog, we look at how superannuation is treated in family law property settlement and the concept of superannuation splitting after separation or divorce.
As family lawyers, we often come across instances where there are court orders in place (either interim orders or final orders), and one party is not complying with their obligations under the orders.
Time limits apply in family law proceedings for property settlement and spousal maintenance matters. If you separate from your partner (whether married or in a de facto relationship), you will need to commence your property settlement proceedings within the specified time limits.
Proceedings in the Family Court, whether for children and parenting matters or financial matters, are stressful for all parties involved without considering the added burden of legal costs. As a family lawyer, a question commonly asked by clients is, “Can the Family Court make the other party pay my legal costs if I’m successful?”
It is becoming more commonplace for family members to provide financial assistance to other family members. How that arrangement is treated if you end up in family law proceedings can have a significant consequence on the outcome of a property settlement.
It’s not unusual for someone to look at re-evaluating obligations under Final Orders made by the Family Court in property matters and/or parenting arrangements. The question is, can those Final Orders (including Consent Orders) be changed?
Many families and couples often welcome furry friends into their homes and lives. Pets are often cherished members of a familial unit. But what happens to those pets (or other animals) if the relationship ends? Who gets custody of the pets, so to speak?
When a marriage or de facto relationship ends and a property settlement is required, the parties are required by the Family Law Rules to provide full and frank disclosure about their financial circumstances. This is referred to as your duty of disclosure.
Separation does not always mean animosity and disagreement. Partners who are ending a marriage or de facto relationship can often come to an agreement about property settlement and sharing time with any children of the relationship.
Following the breakdown of a de facto relationship or marriage, it may be necessary to determine how assets, liabilities and even superannuation entitlements are divided between the parties; in other words, how property settlement will be calculated.
We often receive enquiries from family law clients who assume they have to wait at least 12 months following separation to commence their financial and property settlement. This is not the case.