Most people will need to divide property and finances after separation and this can be challenging. There is no presumption at law that the division of property should be equal, so it important to know your entitlements. What should happen to your home, mortgage, business, assets, superannuation and investments all need to be considered. There is no one simple answer.
Often people come to informal agreements without considering the tax consequences or responsibility for debt. It is important to consider all the options and to seek the assistance of the law to minimise any risks where possible. We can assist you to finalise any division of property and secure your financial future.
It is important to address any issues that arise as soon as possible. Decisions that you make in the short term can have serious long term consequences. You should seek advice even if your partner has not raised the issue of property. Legal advice can help you to stay in control and avoid an unjust outcome.
Expertise and Experience
We specialise in family law and have the expertise to deal with complex property and financial matters including trust and investment structures. We also have the experience and expertise to be able with business and company structures. We work with accountants, valuers and other experts were necessary to ensure that you achieve an outcome that is just and equitable.
Time limits apply
It is important to know that there are time limits that apply to applications for property adjustment. That means that you need to seek legal advice well before the expiration of time if you don’t want to risk losing some or all of of your rights or entitlements. You shouldn’t delay in seeking advice.
If you have been granted a divorce you should make any application within 12 months of the divorce becoming final. If you were in a de facto relationship, then you only have 2 years from the date of separation to make an application for property adjustment. There are some circumstances where you can apply to the court for permission to make an application which may or may not be granted.
Contact us to speak to an experienced family lawyer about your individual circumstances.