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Answered in 9 hours by:
1/4/2016
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 52,733
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
VerifiedGood 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.
It is a long marriage and if there is to be a property settlement the court would make a split of all assets belonging to both you and her in your individual names and joint names.
The law will apply the following steps in property settlements.
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
Anything that you do after separation you can claim should not be included and should be retained by you.
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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