Role of Divorce Lawyers in the Division of Property after a Divorce

 

There is a common misconception that all the assets and properties will be equally divided among the spouses in case of a divorce. The truth is no law states that everything needs to be equally divided after a divorce, and there are no concrete rules as to who gets what, when, and how.

When couples part ways, agreeing on how to divide property and assets is often a far from smooth process. Even the most amicable spouses can have differing views on how things should be divided. Experts in divorce law in Yass opine that the Family Law Act has set certain guidelines regarding the splitting of property. 

What is Fair According to Divorce Law in Queanbeyan?

There are certain steps that the courts follow when trying to determine how property is supposed to be divided after a divorce:

  1. Identify all the properties owned by each of the parties and their valuation
  2. Assess the contributions of each of the parties
  3. Identify each party’s needs
  4. Determine what would be the most equitable division of the properties

The court will decide after understanding the pool of shared property, the amount of contribution to the said pool, and the needs of each party. 

Reaching an Understanding

The best way to go about things for you and your ex-spouse is to come to an understanding or agreement regarding property if it is possible. Divorce lawyers in Yass can help you with such an endeavour. 

An agreement can be translated into a court order, commonly referred to as a consent order. Such agreements that have been lodged in a court are difficult to change unless it has been agreed upon. Even when you and your ex-spouse agree, the courts will not issue an order unless the decision is fair to both of you. The idea is to create final orders so there will be no need to go back to court. 

If you and your former spouse cannot agree, you may apply for property orders to the court. The court will then issue an order on how the properties are to be split between the two of you. 

Comments

  1. Van Charlotte24 April 2022 at 05:42

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