Tag: Property Settlement After Divorce Time Limit

There are two (2) very important Statutory Time Limits in property settlements that are critical for family law matters which clients should be aware of. These are summarised below: [caption id="attachment_11527" align="alignright" width="305"] Statutory Time Limits in Property Settlements Australia[/caption] After a Divorce Order has been granted, parties have twelve (12) months from the date of the Divorce Order to commence Court proceedings seeking Orders for property settlement and/or spousal maintenance.  Following the breakdown of a de facto relationship, parties have...

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...

Australian divorce law property settlement, How Your Ex Can End Up With Your Estate? "Australian divorce law property settlement", says A breakdown of a relationship can be one of the hardest times in a person’s life. During this time, individuals often undergo immense changes to routine, living environments, and lifestyle. In the midst of grieving, possibly moving to a new residence, organizing your affairs, and trying to get your life back on track, it’s easy to forget some of the...

Sentimental Value in Property Settlement In determining how the property pool is split, the Court has previously highlighted the difficult and sometimes unique circumstances where one party may have sentimental value in an asset. In one particular case, the Husband of the proceedings was given 14 days to retrieve the ashes of his deceased parents which had been laid in a memorial on the family farm. During the divorce proceedings, the farm had been awarded to the wife. Sentimental Value...