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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 42627
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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I am looking to have some questions answered in relation to

Customer Question

Customer: Hi, My name is ***** ***** I am looking to have some questions answered in relation to Family Law in Australia
JA: Thanks. Can you give me any more details about your issue?
Customer: Well, i have several questions (generic), one of them is related to Divorce and the effect on Property settlement. I have been married for about 9 years and we have a 5 year old son.
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Customer: she moved out in November 2014 and we have a loose shared care arrangement. I wish to get Divorced, which I understand I can do given we have now been seperated for over 12 months. I am wondering how my divorce application my affect the calculation of Net assets or the calculated Property Pool by the courts if I apply.
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Submitted: 10 months ago.
Category: Australia Law
Expert:  Leon replied 10 months ago.

Good Morning

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.

In the property settlement the law will apply the following 4 steps

Step 1: Determine what the assets are and their value

This will include all assets and their value as at the day that you are dividing them. It does not matter whose name the assets are in, they will form part of the matrimonial pool. Superannuation entitlements are also included.

Step 2: Determine what contributions you and your Husband made towards the assets.

This includes a consideration of both financial and non-financial contributions. Consideration is given to what assets each of you brought into the marriage as well. The weight given to your initial contribution will be dependent upon the length of your relationship. The longer the relationship the less weight given to the initial contribution.

Step 3: What are each of your future needs.

Consideration is given to your respective ages, your comparitive income earning capacity as well as other factors.

IF these things don't balance equally for each spouse, then an adjustment is made in the percentages.

Step 4: Make an order that is just and equitable between both spouses
You can divorce, this ends the marriage it does not deal with the property. You have to be separated for 12 months to file for a divorce though.

Once divorced you have 12 months to file your property settlement in court.

I hope this makes sense and is of assistance. If there is nothing further

thank you for using my services.

If I have missed anything, or you have any further questions please let me know

If there is anything else in the future please do not hesitate to ask.

Please do not forget to leave positive feedback.

Regards
Leon

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