A Property Settlement is the division of property and assets between a couple upon separation of a de facto relationship or dissolution of a marriage. Property assets include, but are not limited to, real estate, motor vehicles, boats, shares, art collections, jewellery, bank deposits and superannuation, as well as interests in private companies. The Family Law Act encourages people to try to reach a settlement without going to court.
There are many factors to be taken into account when negotiating a Property Settlement. These include financial and non-financial contributions to the relationship, income earning capacity, age and health, which person will have majority share, control and responsibility for any children and the length of the relationship.
In this respect, Dispute Resolution is a specific area of expertise at BMlaw. There is often only one opportunity to reach a property settlement that not only complies with the law, but is also fair and equitable to all parties, and which allows them to move forward with their lives.