Tag: 4 step process of Property Settlement

Partial Property Distribution [caption id="attachment_15981" align="alignright" width="350"] Partial Property Distribution[/caption] Sections 79 and 80(1)(h) of the Family Law Act confer power on the Court to make orders for an interim property settlement including for litigation. Funding The relevant legal principles that apply are as follows: (1) Section 79 confers a discrete power to make orders for property settlement and the Court may exercise that power through a succession of orders until the power is exhausted or until a final order...

What Are You Worth in Your Property Settlement? That is (sometimes) the million-dollar question. In determining what a client is worth in a property settlement, we (and the Court) utilise a 4 step process. The 1st step is to determine the value of the net asset pool that is available for division between the parties. This includes adding up the value of all the assets (whether in one party’s name or joint names), taking away all the liabilities and then...