It is very important to obtain legal advice before trying to negotiate any property matters with your spouse or partner. When a breakdown of a marriage or de facto relationship occurs, the division of property and other assets becomes critically important to the financial future of both parties. The Family Court is obliged to divide property, assets and financial resources of parties to a marriage or de facto relationship (including most same-sex relationships) in a way that is equitable and fair.
Some property settlements can be reasonably straightforward, while others can be extremely complex. Balmoral Legal can provide practical and realistic advice on your entitlements with a view to achieving an appropriate settlement as quickly and efficiently as possible.
There is a range of options to achieve division including negotiated settlements, arbitration, mediation, and in cases where agreement cannot be reached, court proceedings. We can advise on what likely entitlements will be considered equitable in the event that the property settlement is judicially determined. Our focus is always on obtaining a positive, cost-effective and expeditious result.
If you don’t have a Binding Financial Agreement and your marriage or de facto relationship breaks down, the Family Court will divide your property and assess spousal maintenance by applying the laws contained in either the Commonwealth Family Law Act 1975 or the Western Australian Family Court Act 1997.
Apart from superannuation, much the same laws apply to both de facto and married spouses.