The division of property can be stressful for couples looking to start anew. The delays and ongoing costs (both emotional and financial) can take their toll.
We are here to help you to protect your entitlements and move forward with your life.
Today, there are many financial structures, investment types and superannuation options available, and it’s increasingly important to choose a Family Lawyer who understands how to identify, value and advise regarding the effective division of assets.
Our clients have often accumulated a range of assets, and each needs to be accounted for in a Separation or Divorce. We are familiar with varying financial and commercial structures, and can provide knowledgeable advice regarding how to obtain an accurate and appropriate valuation, ensuring all assets are included.
Your property may include the following:
- Real Estate (such as your home or investment property)
- Superannuation (including self-managed super funds)
- A Business, or interest in a company operating a Business
- Savings or Funds in the Bank
- An Interest in a Trust or Deceased Estate
- Motor Vehicles
- Personal items, such as Furniture and Jewellery
Often clients are concerned by the ownership of assets, with property in their partner’s name. We can help you to protect your legal interests in these assets, and work towards a fair and equitable division of your property.
PERSONALISED ADVICE WITH NO OBLIGATION
Full and Frank Disclosure
How is this done?
A full and frank disclosure of property and financial circumstances is required whether you choose to settle your property matters by consent or are required to make an application to the Family Court of Australia.
A full and frank disclosure assists with preparing a Balance Sheet and substantiating some, if not all, the various financial contributions made by you both during the relationship.
It is only when the financial contributions are considered in the context of the Balance Sheet, and further consideration is given to other non-financial contributions, that a just and equitable outcome can be agreed upon or determined.
In cases where one party is reluctant to provide full and frank disclosure or is deliberately withholding information, remedies are available. We can assist you by preparing and issuing subpoenas to third parties to obtain further information. Examples of subpoenas that could be issued to obtain proper disclosure may include; subpoenas to Medicare, banks, airlines, institutions where shares are held, child-care and schooling, medical professionals, the police, your former partners employer and any businesses or entities your former partner may be involved in.
We are also able to obtain specific searches to assist you with your matter such as; An Australian Securities and Investment Commission search and/or property searches, which may be useful tools in determining a proper financial settlement.
Urgency and Injunctions
At times, urgent action may be required if you find yourself in a situation where your former partner is disposing of assets. In these cases we can help you. Injunctions against parties and sometimes others are a common and effective tool to compel a party to undertake a certain act or to refrain from undertaking a certain act. One example, is to stop a former spouse from selling or further encumbering real property or a business, even in circumstances where the real property is owned by one spouse only. This will ensure that the property and assets are safeguarded until such time as certain orders are made by the Court in relation to those assets or an agreement is reached. Regularly we encounter these roadblock in property and financial matters. In these cases steps can be quickly taken by us to ensure that any asset is secured. However, action must be taken quickly.
The importance of Superannuation
It’s easy to overlook the significance of Superannuation, given that it’s not often thought of until your retirement nears. For many couples, their Superannuation forms a significant part of their asset pool.
If one partner has had significant time out of the workforce to raise children, it can skew the balance of Superannuation towards the other party, but the court will seek to impose an equitable division and we can help ensure it is done right.
Whether you hold your entitlements in a retail fund or manage your superannuation entitlements in a self-managed superannuation fund, we are adept at advising you on how to best manage these entitlements as part of an overall settlement.
At Doolan Wagner, we understand the importance of Superannuation for both today and for your future. Splitting Superannuation can be a complex process, and there may be taxation and other consequences to consider. We can help.
As experts in providing advice regarding Family Law Superannuation, you can feel confident that your interests will be well represented. If you have concerns over your assets, we can help.
Staying Out of Court
As always, negotiating an agreement with your former partner is best. We can help you with this process and your matter without going to Court. We can help you formalise any agreement you reach which will help prevent future claims, and give you the comfort of knowing that any assets you accumulate post-separation are well protected. Consent Orders will be approved by the
Family Court if they are just and equitable.
The Benefit of Early Specialist Advice
Whether you are considering separating or have separated, it is prudent that you take steps to obtain legal advice with respect to your situation and how to best secure any assets and property. Early advice can ensure the best outcome for you and specialist family lawyer advice can identify possible roadblocks and provide you with a sensible path forward. This is especially important, as there are specific time limits that you must comply with in relation to commencing property proceedings following a divorce.
How We Are Different
Whatever your situation or circumstances are, we understand that no two matters are the same. Lisa Wagner & her team of specialist Family Lawyers have extensive experience in the division of property and assets post separation and divorce. We will assess your particular situation and work with you to help you reach a favourable and quick outcome.