We can help you with:
Determination of Assets & Liabilities
Assistance with outlining property, debts, and loans to better understand how to divide property.
Contracts that stipulate how property is to be divided between each party.
Drawn up agreements for consideration of the Court.
Representation in Court
Should your case require a court appearance, our lawyers will stand by you to argue your case.
Can AJB Stevens help me?
1. Are you aware of what is required to separate or divorce?
2. Do you need help evaluating what is considered property?
3. Do you understand your rights in regards to property settlement?
If you are unsure of the answers to any of these questions, AJB Stevens can assist. Our lawyers are the experts in property settlement law. We understand the sensitivities and hardships involved with the process of dividing assets. That’s why we give our clients compassion and empathy while looking out for your best interests and ensuring your privacy. Contact AJB Stevens to learn more about our property settlement services.
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Property Settlement Issues We Deal With
Division of property and sorting through liabilities and debts can be complex. The process may even be emotional. Each property settlement case is unique and requires dedicated individuals with a deep understanding of the law to ensure you receive the entitlements you deserve. Seeking the help of AJB Stevens will help you navigate the complexities of property settlement and get your case handled with professionalism and expediency.
Valuation of Assets
Property settlement is not limited to property acquired during the relationship. The AJB Stevens team can help assess all property – including that owned prior to/after separation.
Assessment of Contributions
Division of property is not always 50/50. AJB Stevens can look at each party’s contributions to assess how property can be fairly divided.
Formalisation of Property Settlements
AJB Stevens can assist in formalising property settlements and advising on all aspects of the contract before finalising a consent order or placing it in front of the court for consideration.
Property Calculations and Adjustments
AJB Stevens works to not only calculate property value, but also the future needs of each party to ensure a level of fairness in the settlement of property.
Superannuation falls within the definition of ‘property’ and is a complex matter given the many types of funds. We help advise and determine the best course of action in regards to your situation.
De Facto Relationships
Separations involving De Facto couples have similar rights to property division as those who are married. AJB Stevens can help make the property settlement process as smooth as possible.
Frequently Asked Questions
What is Property Settlement
When people separate, they typically need to agree to how they will divide their property. Property settlement is the formalisation of this division. Often, property settlement is handled in one of three ways:
- You and your former partner agree on the division of property without court involvement.
- You and your former partner agree on arrangements and formalise your agreement by applying for a consent order in Family Court.
- You and your former partner cannot agree as to how to divide your property and apply to the court for financial orders relating to the property division.
Why do I need a property settlement lawyer?
Property settlement is a complex area of law. When you are dividing property, you are not just looking at assets. You may also need to assess property owned prior to and after separation, business interests, liabilities and more. It is always advisable to speak with a property settlement lawyer who understands the underlying legal framework so that you know what you are entitled to and can better protect your rights.
Do I need to go to Court to settle my property?
You do not necessarily need to go to Court to settle property matters. However, both parties must agree to the property settlement. There are resources available that can assist you in performing a property settlement without the court’s assistance. However, the nature of such an agreement is complex and you should seek assistance from a lawyer to prepare your property settlement so that you know your rights and understand what sort of settlement you are entering into.
What counts as property?
Property is, quite literally, anything of value. This can include:
- Any property owned (jointly or independently)
- Business interests
- Inheritance assets
Property acquired during the relationship is not the only property that needs to be divided during a property settlement. Property owned prior to and after the separation may also be included.
Are debts included in property settlement calculations?
Debts are included in property settlement calculations. Debts can include:
- Stamp duty obligations
Liabilities are divided between the parties, whether they are held jointly or individually.
Is there a time limit in property settlement?
There is a time limit involved in bringing a property settlement. A married couple has 12 months from the date of their divorce to finalise a property settlement. A de facto couple, however, has two years from the date of separation.
Although it is very rare, the court may grant an extension of time in exceptional circumstances.
It may also be within the best interests of both parties to make a property settlement as soon as possible, as some assets belonging to the parties may increase in value over time.
How much will I get at the end of a property settlement?
Each case is determined on the individual circumstances involved. That is why it’s always advisable to seek legal advice immediately. Professionals can help you determine a fair split of property and advise you on your rights.
How does a court divide assets and debts?
Although it is typically assumed that property will be divided equally between each party, this is not always the case. There is no formula that the courts use to determine a property settlement. However, there are a few guiding principles that the property settlement is based on. They are:
- The totality of your assets measured against your debts
- The direct financial contributions each party brought to the marriage or de facto relationship (wage and salary earnings, etc.)
- Indirect financial contributions by each party such (gifts, inheritance, etc.)
- Non-financial contributions to the marriage or de facto relationship (childcare, homemaking, etc.)
- Future requirements (a court will take into consideration age, health, financial resources, care of children and future earning ability)
Each situation is unique and will depend on the individual circumstances of your situation.
Why Choose us?
At AJB Stevens, we pride ourselves on our ability to offer our clients a professional and personalised service. We focus all of our attention to helping you protect your legal rights and work to win your case. Our directors are personally involved in each case so you can rest assured that a senior team member is prioritising your case.
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“The team at AJB Stevens Lawyer have been nothing short of amazing. They played a pivotal role in my compensation claim and I would highly recommend their services for clients like myself” – Khoa, Canley Vale