There are four steps in a property settlement.
Step 1 – identify all relevant assets. You’ll need to provide copies of bank statements, tax returns, superannuation statements and other financial documents.
Step 2 – examine the contributions made during the relationship. These include financial (income) and non-financial (parenting) contributions.
Step 3 – assess the future needs of each party. This includes looking at future earning capacity.
Step 4 – consider if the effect of the final outcome is just and equitable. This can result in a Binding Financial Agreement or Court Orders made by consent or by a judge.
An experienced divorce lawyer may be key to achieving a positive outcome.