When you partner with Omnia Legal, you can make important family and personal decisions with confidence.

Omnia Legal - Family Law Experts

A business meeting with two people seated at a table, one with a notebook and pen, and the other holding a pen, suggesting a discussion or interview setting.

Property

When you have made the decision to separate from your partner or spouse, our team of family and property lawyers on the Sunshine Coast can help you formalise the fair and equitable separation of your assets.  

Property settlement following divorce or separation involves the division of assets, liabilities, and financial resources between former spouses or partners. This process aims to distribute property acquired during the relationship or marriage, ensuring both parties can move forward financially. 

At Omnia Legal, our family and property lawyers are committed to ensuring our clients understand the whole process and feel educated to make informed decisions.

Minimalist dining area with wooden table and chairs, a potted palm, vase with dried flowers on the table, and large window in the background.

When determining matters concerning property settlements, the family law courts will use a five-stage process:

  1. Determine whether it is just and equitible to adjust property between the parties.

  2. Identify and value the matrimonial property pool.

  3. Assess contributions from each party, both financial and non-financial.

  4. Consider each parties future needs (such as. your age, your health, your children, your income).

  5. Determine whether the overall division of assets is just and equitible. 

The first step in the process is to determine whether a division or adjustment of property between the parties is just and equitible. If so, the parties can proceed to the following steps.

The second step is to identify and value the assets, which may include real estate, vehicles, investments, businesses, and personal belongings. Liabilities such as mortgages, loans, and debts are also taken into account.

Business meeting with three people seated at a table, one with a laptop, papers, and pen holder, abstract painting on wall.

Next, contributions from each party are assessed. This includes financial contributions like income and savings, as well as non-financial contributions like homemaking and childcare.

Other factors are considered known as the future needs of the parties, such as the age and health of each spouse, their future earning capacity, and the care arrangements for any children.

Contrary to common belief, property is not automatically divided 50/50. Instead, the court aims for a division that is 'just and equitable', taking into consideration the individual circumstances of each case.

Negotiation and mediation are often used to reach a settlement agreement outside of court. If an agreement cannot be reached, an application to the court may be required where the court will be asked to make a decision which is considered just and equitible based on the circumstances. 

Ultimately, property settlement aims to provide both parties with a share of the marital assets, allowing them to move forward with their lives post-separation.

Let us help you ensure you get what is rightfully yours. Enlist our independent legal advice, personalised for your circumstances and we will work hard to achieve your objectives, securing what is most important to you.