During a divorce, one of the most contentious issues is determining how property will be distributed between former partners. If you live in an equal distribution state, the law will typically stipulate that all property is divided equally. There are many exceptions to this rule, however, including in cases where a prenuptial agreement was signed before the marriage.
In marriages where one or both spouses have a lot of property, the distribution process tends to become complicated.
Everyone hopes to never need the services of a family law attorney, but sometimes situations escalate to a point where there is no alternative. And if that time does come it helps to understand a little about what to expect and ensure that you secure the services of the best possible family law attorney.
All family law issues are regulated by the Australian Family Law Act, a piece of federal legislation which covers all states in the country.
With the reality that one third of marriages end up in divorce or separation in Australia, it is important for couples to prepare for situations that might stand a chance of happening. Indeed, preparing a prenuptial agreement can be the most unromantic step of a relationship, but it can help resolve bitter disagreements moving forward. A prenupial agreement (prenup) is basically a legally binding agreement that specifies how a couple will split their assets if they end up in divorce.
Are you getting divorced? One of the major concerns amongst the parties getting a divorce is property settlement. Who gets what? Contrary to popular belief, the property won't be divided on a 50/50 rule, and usually there's no rule of the thumb on what each party should receive. Nevertheless, there's a process that is used to determine what each party will get as a result of separation or divorce. It is usually recommended that you have lawyers to guide you through the process, but it's important to have an idea of what to expect.