That is (sometimes) the million-dollar question. In determining what a client is worth in a property settlement, we (and the Court) utilise a 4 step process.

The 1st step is to determine the value of the net asset pool that is available for division between the parties. This includes adding up the value of all the assets (whether in one party’s name or joint names), taking away all the liabilities, and then working out the net equity.

Remember, both parties’ superannuation forms part of the net asset pool also.

The 2nd step is to assess each party’s respective contributions to the net asset pool. This includes financial and non-financial contributions. Financial contributions include inheritances, windfalls, and the like. Non-financial contributions include homemakers and parenting the children.

The 3rd step involves considering the parties’ future needs and adjustments are made accordingly. This includes considering the party’s ages, states of health, whether there is an income disparity, and who is going to be the primary caregiver to the children moving forward.

The 4th and final step requires an assessment of what is a just and equitable property settlement agreement. Meaning, what would be a fair settlement outcome to the parties.

To receive advice on your personal situation and circumstances, contact the team at James Noble Law today and make an appointment.

Also, learn 4 Key Points To Note About Property Settlement 

HIGHLY SKILLED AND EXPERIENCED BRISBANE DIVORCE SOLICITORS

James Noble Law will look for alternate resolutions to resolve family disputes to ease the emotional issues and to minimise financial costs.  We will examine alternative dispute resolutions that may provide a more suitable resolution including negotiation, collaboration, and mediation.

All of our solicitors are admitted to practice in the Family Court of Australia, Federal Circuit Court of Australia, and Supreme Court of Queensland.  Our professional staff regularly conduct family and de-facto law matters in these jurisdictions and are experienced litigators.

CALL 1800 662 535 TO ARRANGE AN APPOINTMENT WITH ONE OF OUR FAMILY LAW EXPERTS AT JAMES NOBLE LAW BRISBANE: THE FAMILY LAW EXPERTS IN FAMILY RESOLUTION

James Noble is a Queensland Law Society Accredited Family Law Specialist with more than 40 years of experience as a solicitor practicing in family law. He is a member of the Family Law Practitioners’ Association, the Queensland Law Society, the Family Law Council of Australia, and the Family Law Section of the Law Council of Australia. James is also a Notary Public. James has also been instrumental in developing Collaborative Practice in Brisbane. He is a member of Queensland Collaborative Law whose members are at the forefront of developing this new approach in Family Law Brisbane.

BRISBANE FAMILY LAW

James was a partner in a national law firm before starting James Noble Family Law Brisbane in 2003. His passion is to provide specialist family and relationship law and advice that emphasizes amicable and timely resolution of relationship difficulties through negotiation and mediation. James Noble Law Brisbane is highly experienced in the practice of mediation.

Article Source: Property Settlement – https://www.jamesnoblelaw.com.au/property-settlement/