Property settlement refers to the division of assets, liabilities and financial resources between parties after the breakdown of a marriage or de facto relationship. As property settlement is concerned with …
Wasting Away: What Happens When Your Ex Spends Your Joint Money?
Section 74 of the Family Law Act empowers the Court to make spousal maintenance orders. This requires a consideration of the factors under section 75(2) of the Family Law Act. …
Stumped about Super? Find out about Superannuation and Family Law
Superannuation is property under the Family Law Act and after a relationship breakdown the Court has the power to make orders in respect of each parties’ superannuation interests.
Property Settlements: An Exception to Stamp Duty
Stamp Duty is a fee charged when you purchase a property or otherwise acquire an interest in property. But where property is transferred because of a divorce or relationship breakdown, it is possible to avoid paying Transfer Duty.
“The House is Haunted” – Surely the Value should be Decreased?
The 2013 case of Descas & Descas concerned an application property settlement. In what Magistrate Scarlett labelled a “bizarre twist”, the wife attempted to argue that the matrimonial home was haunted and consequently the value of the home was detrimentally impacted.
Spousal Maintenance
Spousal maintenance is financial support paid by a person’s former spouse or de facto partner where the recipient cannot adequately support themselves.
Effect of Family Violence on a Property Settlement: The Kennon Adjustment
Generally, the conduct of the parties or the cause of the relationship breakdown is not a relevant factor to the determination of the appropriate division of the property pool. However, in cases involving serious family violence the Court may allocate an abused party a greater percentage of the property pool. This is known as a Kennon Adjustment.
Prenuptial Agreements
A prenuptial agreement provides for certainity in the event of a relationship breakdown and allows separating parties to avoid the stress and expense of litigation by removing the need for the parties to go to court.