Property Settlements

At Drinkwater Criminal and Family Lawyers, we understand that navigating property settlements during a separation can be complex and emotionally taxing. Serving clients in Forster, Taree, Newcastle and surrounding areas, our experienced legal team is dedicated to providing clear, comprehensive guidance to ensure a fair and equitable division of assets, liabilities, and financial resources, including superannuation and business interests.

Understanding Property Settlements in New South Wales

In Australia, property settlements following the breakdown of a marriage or de facto relationship are governed by the Family Law Act 1975. The Act empowers courts to make orders dividing the property between parties in a manner that is just and equitable. The process involves a thorough assessment of the couple's financial situation and contributions, both financial and non-financial, to the relationship.

The Four-Step Process for Property Settlements

The courts typically follow a structured four-step approach to determine a fair division of property:

Identify and Value Assets and Liabilities: All assets and liabilities, whether held jointly or individually, are identified and valued. This includes real estate, vehicles, bank accounts, investments, debts, and business interests. Superannuation is also considered a significant asset in the property pool.
Assess Contributions: Both financial contributions (such as income, inheritances, and property owned before the relationship) and non-financial contributions (like homemaking and child-rearing) are evaluated to determine each party's input into the relationship.
Consider Future Needs: Factors such as age, health, earning capacity, and responsibilities for caring for children are considered to assess the future needs of each party.
Ensure a Just and Equitable Outcome: The court reviews the proposed division to ensure it is fair and equitable for both parties, making adjustments as necessary.

Superannuation in Property Settlements

Superannuation is treated as property under the Family Law Act and can be divided between parties upon separation. However, it differs from other assets because it is held in a trust and is subject to specific laws and regulations. The division of superannuation can be complex, requiring careful consideration and legal expertise.

Business Interests in Property Settlements

Business interests are also considered part of the property pool and can be subject to division during a settlement. Valuing and dividing business assets require a nuanced understanding of both family law and commercial considerations to ensure that settlements are fair and that businesses can continue to operate effectively.

Our Legal Services

Comprehensive Asset Assessment: We work with you to identify and value all assets and liabilities, ensuring a complete understanding of the property pool.
Strategic Negotiation and Mediation: Our team employs effective negotiation and mediation techniques to reach amicable agreements, aiming to avoid the need for court intervention.
Expert Court Representation: If court proceedings become necessary, we provide robust representation to advocate for your interests and achieve a fair outcome.
Superannuation and Business Expertise: We offer specialised knowledge in handling complex assets like superannuation and business interests, ensuring these are appropriately addressed in settlements.

Why Choose Drinkwater Lawyers

Local Knowledge: With deep roots in Forster, Taree, Newcastle, and surrounding regions, we have a thorough understanding of the local legal landscape.
Client-Centred Approach: We prioritise your unique needs and circumstances, providing personalised legal strategies and compassionate support throughout the process.
Commitment to Fair Outcomes: Our goal is to achieve settlements that are just and equitable, safeguarding your financial future and well-being.

Contact Us

Navigating property settlements requires careful planning and expert legal guidance. Contact Drinkwater Criminal and Family Lawyers today to schedule a confidential consultation. Let us assist you in achieving a fair and equitable division of property, tailored to your unique circumstances.