Andersons Family Law the four steps to property settlement

The Four Steps to a property settlement

Step 1

First you need to work out what your asset pool is.

What are the assets of your relationship?

This could include a house, any cars, furniture, jewellery and other items.

Have you got any liabilities? Like a mortgage or credit card debts or another loan?

Also, Superannuation of both parties must also be declared

Step 2

Look at what financial and non-financial contributions were made throughout your relationship?

For example, one of you may have had a job with wages and the other stays at home looking after the children.

Step 3

Should your property settlement be adjusted to take for future needs into account?

For example, is one party caring for the children? Is one person in better health or is one person unable to work?

After assessing all the contributions and the future needs, a settlement percentage can be calculated.

Step 4

Finally, the Court will consider if the calculation is “just and equitable” to make the Orders

Want to know more about your Family Law matter?

Contact the Family Law team at Andersons Solicitors at www.andersons.com.au