Parramatta City Legal has the necessary skills and expertise to advise you competently on the adjustment of proprietary interests of you and your ex-spouse/partner upon separation. This can involve assessing the most effective way of dealing with the former matrimonial home, dividing superannuation interests and making applications for / resisting claims for spousal maintenance.
The paramount consideration in determining whether or what orders for property division should be made is whether such orders are just and equitable. Broadly speaking, there is a three-step process in determining how matrimonial or relationship assets are to be divided. They can be summarised as follows:
- The court needs to identify and value all the assets and liabilities of both parties, whether individually or jointly owned.
- An assessment needs to be made as to the contributions made by both parties to the assets of the relationship. This will include direct and indirect financial contributions, non-financial contributions such as domestic duties and contributions to the welfare of the family. Non-financial contributions are viewed by the Courts as equal in value to financial contributions.
- A final assessment is made as to the future means (income earning capacity and financial resources) and needs (care of children, health, age etc.) of the parties.
We are also able to assist by postulating likely Court outcomes which will equip you well for an early settlement, if the proposed compromise position is reasonable.
Parramatta City Legal can also assist in protecting your future interests should your relationship break down. The mechanisms available include entering into Binding Financial Agreements (‘pre-nuptial agreements’) which will prescribe precisely how the parties’ assets are to be divided post-separation. Such instruments can also be made during or after separation by agreement. We are also able to protect your financial interests by applying to the Court for an order preventing your ex-spouse/partner from dealing with certain property if you fear that he/she may be selling marital assets to disadvantage you.
Our Family Law Practice is well supported by our Property Law department which will assist you in issues involving the sale of matrimonial assets, stamp duty exemptions, mortgages and conveyancing.
Overall, we set out to proffer not only valuable and sound advice, but also a realistic assessment of the strengths and weaknesses of your case so as to avail you of the information necessary to finalise your matter with the maximum possible result.