The concept of “contribution” is important in building any relationship. Each person contributes a piece of themselves to the relationship to try and make it work. The reverse is also true when relationships come to an end: we need to put some of those pieces back to build a new future.
Dividing the “pool of assets” and settling an agreement
A fair division of assets through a property settlement is an important way to make sure not only that each party’s contribution is properly acknowledged, but also that, where possible, each member of the family is set up to meet their future needs.
In considering a property settlement, a court will look at your collective “asset pool”, which includes various types of property such as: assets and liabilities; debts and income; trusts and companies; and non-financial contributions.
Any assessment will take into consideration all contributions, both before and during your relationship, as well as an assessment of future needs after your relationship ends.
In many cases, a fair agreement can be achieved through negotiation and compromise. This can at times be an uncomfortable process, but often delivers a better outcome than the depletion of family resources and the emotional cost of a drawn-out court battle. In other cases, the only path to fairness is through a judicial determination of the Family Court.
Why are we the property settlement lawyers Perth family law clients need?
For starters, we understand that progress towards a fair financial outcome can sometimes be obscured through a lack of financial disclosure and candour.
We pride ourselves on our financially literate approach and, where needed, draw in specialist accounting and related commercial resources to investigate more complex property matters and follow the money trail.
Applying world-class financial tracking services, we work to ensure that distance, complexity and high-emotions are no barrier for your settlement.