01 Oct Split or Separating? What are you entitled too?
Split or separating and need to know…
What property you are entitled to? We can help
To work this out we need to ask a few questions…
What assets and liabilities do you both have?
We need to establish your current net assets and liabilities. This includes all property regardless of what name it is held in, or when it was acquired. Superannuation is also included in the asset pool.
So write a list of all assets and their values, all liabilities and the amount that you owe, whose name the assets and liabilities are in.
Do you have future needs that should be considered?
The following future needs factors may need to be considered:
- Your age and state of health;
- Whether you have the children of the relationship living with you;
- Your income earning capacity and whether there is a significant disparity between your income and your former partner’s income;
- The duration of the relationship and the extent to which it has affected the earning capacity of either of you.
If some of these apply to you then you may get an adjustment in your favour.
How did you get to these assets and liabilities?
The contributions made by both of you to the relationship and the assets are considered. Contributions include financial and non-financial contributions (e.g. caring for children).
So if you put your inheritance or a gift from your parents into the purchase of a property write that down.
A division that is ‘just and equitable’ that is, fair for both of you needs to be the end result.
Using the above questions and answers from you we can work out for you what your entitlements are so that you can try and negotiate a settlement yourself or we can negotiate for you as this is our specialty.
To find out more and get clear on what you are entitled to
Call 1300 768 719 and book in for an appointment