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Property Settlement, Financial Settlements & Spousal Maintenance
Property Settlement, Financial Settlements & Spousal Maintenance
More information regarding Property Settlement is available by clicking the Frequently Asked Questions link below.
Watson & Watson Property Settlement Lawyers Sydney - Experts in Property Law, Property Settlements & the Property provisions of the Property (Relationships) Act 1984 and the Family Law Act 1975
The dividing up of assets is an unavoidable task to carry out upon the breakdown of a relationship. Property Settlement is the process by which both parties will attempt to negotiate to form an agreement concerning income, assets and liabilities.
It is essential to get legal advice from a property settlement lawyer if you are involved in a relationship breakdown. This is because the law states that property settlement agreements can only be recognised if the parties involved have sought independent legal advice. Watson & Watson’s Family Lawyers are experienced in resolving disputes over property settlement, and ensuring our clients get the share of assets they deserve.
How our family lawyers help with Property Settlement
Due to our vast experience acting for clients in Family Law matters, our family lawyers know the rules surrounding Property Settlement and how best to apply them to your matter. This includes the recent amendments concerning those in de facto relationships, which you can read more about by clicking here
Reaching Property Settlement agreements will initially involve a process of negotiation between the parties. Watson & Watson Family Lawyers are experienced negotiators, and can help to guide you through this process. Should initial negotiations fail, we can act for you in dispute resolution processes such as mediation or arbitration, seeing your matter through to finality.
In the event that an outcome cannot be reached throughout this process, we can advocate on your behalf in the Family Court. The court will take into consideration factors such as the property help by each party, along with financial, parenting and homemaker contributions made by each party, and the future needs of each party.
Property Settlement, Financial Settlements & Spousal Maintenance FAQs
Related Cases & Articles
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19/11/2019In property matters the Family Court of Australia or Federal Circuit Court may need to consider what the parties contributed to the property pool after separation to decide how property should be divided. These post separation contributions can be direct financial contributions, indirect financial contribution or contributions for the welfare of the family.Read more...
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16/10/2019The Family Court or Federal Circuit Court (Court) will apply the same approach to the division of property between husband and wife or de facto partners regardless of whether the marriage or relationship is a long relationship or a short relationship. A short relationship is generally thought to be one which is less than 5 years in duration. Though the Court takes the same approach there are differences in the way the Court applies the same principles as between a short relationship and a long relationship. The outcome for the party who brings in or contributes the least in a short relationship, will be less generous.Read more...
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02/10/2019The Family Court of Australia recently considered competing Applications for an increase in payment of weekly periodic maintenance and an Application to terminate or at least reduce the amount of weekly payment. This was in the case of Bodilly v Hand Family Court of Australia 2019. In this case the Court set out relevant issues that arose in those proceedings. In this case the former husband had been paying his former wife spousal maintenance for many years.Read more...
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25/09/2019The Family Law Act 1975 has as its base a “no fault” concept. The Family Court will generally not make Orders on the basis that one party to the proceedings is the “innocent party”. This applies in both divorce and property matters. The position in parenting cases is more complex. Some marriages and relationships are affected by Family violence. The Court has been reluctant and slow to take into account the existence and impact of family violence when determining what is “a just and equitable” property division between spouses/partners.Read more...
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04/09/2019The Family Court of Australia/Federal Circuit Court of Australia will divide property on a just and equitable basis and will look at the contributions of each spouse/partner and will also determine whether there is a need for adjustment in favour of one or other of the partner/spouse.Read more...
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06/08/2019The Family Court can order the division of matrimonial property and this can include debts. Section 79 of the Family Law Act 1975 gives the Court power to alter the interests of the parties with respect to the property of the parties to the marriage and this can and usually will require debts to be taken into account.Read more...
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27/05/2019The Family Law Act provides a procedure for continuation of Family Law proceedings between a husband and wife (or de facto couples) in circumstances where one of the parties dies prior to the conclusion of the proceedings. The continuation of proceedings means exactly that – there has to be a case in the Court commenced prior to the death. Family Law proceedings cannot be commenced after the death of the husband or wife. It is too late to commence proceedings once the death has occurred.Read more...
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13/05/2019It is generally thought that the parties to Family Law Proceedings would be the husband and wife. This is not always the case as there may be circumstances where a “third party” comes into the proceedings by either: being brought into the proceedings by the husband or wife; or the third party intervening in the proceedings by seeking an order that they be joined to the proceedings as their rights or obligations are likely to be affected or the subject of orders made by the Court.Read more...
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01/05/2019Often one or other partner to a marriage or de facto relationship operates a business either a small business or a larger business. Sometimes one and sometimes both the partners to the relationship are involved in the business.Read more...
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09/01/2019Since 2002 the Family Court of Australia and the Federal Circuit Court of Australia has had the capacity of making Orders splitting the superannuation entitlements of parties to a marriage (and subsequently) for people in de facto relationships. This allows for flexibility in achieving property division and can achieve a result where the superannuation “poor” party receives a split in his or her favour. That sounds simple but there are pitfalls that can occur if the superannuation split is not documented properly and in accordance with the Regulations.Read more...
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06/01/2019In the discussion of property and related financial matters, the Family Court and/or the Federal Circuit Court of Australia considers the available pool of net assets (and the value of the net value of assets) at the time of the hearing and other relevant matters.Read more...
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27/12/2018In Family Law property divisions and parenting disputes it is often thought that the only method of resolving these disputes is to commence proceedings in the Family Court of Federal Circuit Court of Australia and get the Judge to decide.Read more...
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19/12/2018The sale of an asset as part of a Family Law property settlement; or an Order of the Family Court of Australia or Federal Circuit Court for sale of an asset can trigger a liability to pay Capital Gains Tax (CGT). It is not the case that the tax is paid by both parties in equal shares.Read more...
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20/11/2018The Family Court and Federal Circuit Court apply a process for determining division of property. This process generally involves a pooling (adding together the value of all the property and deducting the liabilities from that value) then based on the net value and all the relevant factors involved in determined the appropriate division of the property by dividing the property and liabilities between the parties.Read more...
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06/11/2018The Family Court and Federal Circuit Court of Australia are empowered to divide property between spouses and partners following breakdown of marriage or de facto relationships. The Court needs to divide property on a just and equitable basis. To achieve this, the Court will need evidence of the value of property it is being asked to divide.Read more...
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02/11/2018The Family Court of Australia and the Federal Circuit Court of Australia make Orders in relation to Property and Parenting Applications. Some parties can resolve their dispute by way of negotiation and consent. Consent Orders can be made to the Family Court or Federal Circuit Court.Read more...
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22/10/2018The Full Family Court of Australia recently had the opportunity to consider once again the issue of the significance of financial contributions made by one party at the commencement of the relationship to the outcome of a property division decided by the Court many years later.Read more...
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15/10/2018Watson & Watson recently resolved a complicated property matter. The matter was settled at Mediation following a long and hard fought period of litigation between separated spouses.Read more...
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07/09/2018What happens to the family home at the time of separation and in the long run is in most cases, the central issue in a Family Law property matter?Read more...
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25/07/2018When a marriage or a de facto relationship ends the parties will need to achieve property division. Property includes money in the bank, real estate, shares, investments and superannuation. It is usually the case that the parties will each have superannuation entitlements. The division of superannuation entitlements is important in property division.Read more...
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10/04/2018In a recent case conducted by Watson & Watson on behalf of the Husband in the Family Court of Australia, the Husband who had less assets and resources than the Wife became the effective winner in the case.Read more...
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12/03/2018In cases of a marriage breakdown or separation of de facto couples Watson & Watson take particular care to ensure that a division of property is a final and once and for all settlement. It is essential to ensure that no future claims can be brought against you by a former spouse or partner.Read more...
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09/03/2018The Family Court can make Orders in a property settlement case where the pool of assets available for division includes money that was awarded in damages to one or other of the parties to the marriage because they suffered a personal injury. It might be presumed that the Family Court would not touch compensation moneys received by a person as a result of an injury that they had suffered. Why would the Court take away my compensation money?Read more...
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20/02/2018In the last few years it has become increasingly common in matters coming before the Family Court of Australia and the Federal Circuit Court of Australia to use social media postings such as Instagram, Facebook and Twitter as evidence; this may be helpful but can also be harmful.Read more...
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05/02/2018Often when married spouses or de facto partners separate numerous issues will arise and in particular, if the parties are living in separate jurisdictions or have assets or interests in separate jurisdictions.Read more...
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21/12/2017Watson & Watson often receive enquiries as to spousal maintenance and whether an application can or should be made for spousal maintenance. Similarly we receive many enquiries as to whether a Spousal Maintenance application should be defended.Read more...
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19/12/2017In the recent decision of Thorne v Kennedy in November 2017 the High Court of Australia heard an Appeal from a decision of the Full Court of the Family Court of Australia. The Full Court had heard an Appeal from a Single Judge of the Family Court. The High Court decision in November 2017 will have a significant effect on the usefulness of Pre-Nuptial Agreements and Binding Financial Agreements entered into during a marriage or a de facto relationship.Read more...
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04/12/2017Often we receive enquiries in relation to waste in family law matters and how it can be minimised. At Watson & Watson we have senior experienced Solicitors who can advise you and consider the cost benefit analysis. Generally if the asset pool is known (as is in most cases) it is relatively easy to provide a range of outcomes that are likely at a hearing.Read more...
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29/11/2017On many occasions couples have run a successful business together over a period of many years and thereafter their personal relationship breaks down. It is a difficult time especially when both parties have invested many hours of work in the business to achieve the success that it has.Read more...
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13/10/2017At the time the relationships breakdown it may be thought that the property division will be relatively easily achieved and will be amicable. “I only want what is fair”.Read more...
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01/08/2017The identification and the valuation of assets (other than minor assets for which an assessment [and hopefully agreement] can be made) and liabilities is a fundamental and necessary step that needs to be achieved in order to put a party (either in a de facto relationship or marriage) to a family law property matter in a position to ascertain the value of the asset pool.Read more...
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25/07/2017In a recent case of Waterman in 2017 the Full Court of the Family Court considered this aspect amongst others issues that arose. We have elsewhere dealt with different matters referred to in the Waterman case in particular the effect of the failure of one party to provide full financial disclosure and the disastrous consequences of such failure.Read more...
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29/05/2017The valuation of assets and liabilities is a fundamental and necessary step that needs to be achieved in order to put a party to a family law property matter in a position to ascertain the value of the asset pool.Read more...
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18/01/2017Often we are faced with questions as to what action can be taken by one party or another when the real estate owned by the family is in one name and not in both names.Read more...
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11/01/2017Usually in family law matters and de facto property division matters there are two people (for example the husband and the wife) who are parties to the dispute.Read more...
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19/12/2016The Court must divide property between husband and wife and partners so that the outcome is fair and equitable.Read more...
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08/11/2016The Family Lawyers at Watson & Watson act for many clients and there are many enquiries as to the numerous aspects following separation. One of the aspects, sometimes the most important and sometimes not the most important, is that of property settlement and the adjustment of the property following separation of a husband and wife to a marriage or parties to a de facto relationship (including same sex relationships).Read more...
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01/09/2016Parents commonly provide financial assistance to their children to enable them to purchase a property. Frequently those children are in a relationship, and the money becomes intermingled in that relationship. What happens when the relationship breaks down and a property settlement is inevitable?Read more...
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04/08/2016Watson & Watson, Richard Watson and Dennis Grant regularly act for individuals who have significant assets and wealth. In a recent case Watson & Watson acted for the Husband in a dispute that arose following the breakdown of a marriage of nearly 30 years duration.Read more...
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28/07/2016In a recent case in 2016 parties who had commenced living together in about 2002 and separated raised the issue as to whether an amount of $90,000.00 (which was a significant amount having regard to the other assets) should be added to the property pool.Read more...
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21/07/2016Often the family lawyers at Watson & Watson act for clients who are faced with the question of how the Family Court will deal with waste or negative contributions in relation to the resolution of property settlement following separation of a husband and wife of a marriage or parties to a de facto relationship (including same sex relationships).Read more...
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14/07/2016Watson & Watson often receive enquiries and provide advice in relation to whether proceedings should be conducted in Australia or in other countries throughout the world. There are advantages through some jurisdictions and disadvantages in other jurisdictions, depending upon what issues are in contention and what is the factual matrix of the relationship and financial matters.Read more...
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16/06/2016Watson & Watson recently acted for Madeline in a property matter. A settlement of the property division between Madeline and her husband Jonathan was achieved.Read more...
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26/05/2016A fundamental part of Family Law so far as property division is concerned is the provision by each party of the full and frank financial disclosure. In property proceedings, each party must provide to the other full and frank financial disclosure.Read more...
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17/05/2016Following Richard Watson being instructed and re-focusing initially by Tina and thereafter as a consequence, refocusing by Lisa as to what was the desired outcome of each of the parties, when Richard Watson was initially instructed the parties had spent about $1,000,000.00 on legal costs and associated matters.Read more...
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12/05/2016In all cases where there is property careful consideration must be given to what are the tax implications of any agreed settlement or the structure of the Order of the Court in a disputed matter.Read more...
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05/05/2016Binding Financial Agreements deal with financial circumstances and consequences and arrangements between parties.Read more...
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28/04/2016In a recent case in December 2015 the Full Court of the Family Court of Australia upheld an Appeal against the decision of the initial Judge in the Family Court of Australia. The initial Judge set aside a Binding Financial Agreement which had been signed by the parties.Read more...
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30/03/2016Watson and Watson received an enquiry from Robert in late 2015 in relation to the division of property following his separation from his wife in September 2015. The Husband and Wife each of whom were employed professionally were married for approximately 5 years before separation.Read more...
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04/02/2016In Family Law matters involving property allocation between parties to a marriage or parties to a de facto relationship following dissolution the parties often they come to "agreements" as to the allocation of the assets and other related matters. It is a great pitfall for the agreement not to be properly documented.Read more...
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21/01/2016The Family Court or the Federal Circuit Court where there is a breakup of a marriage or de facto relationship which deals with issues relating to property considers many issues we have indicated in other articles.Read more...
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08/01/2016On many occasions Watson & Watson who are experienced Family Law Lawyers are approached by parties involved in distribution of property following breakdown of their marriage or de facto relationships. Questions arise as to how the Family Court will deal with property held by a Trust. The Court deals with the issue depending on the exact nature and circumstances of the Trust.Read more...
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07/12/2015Watson & Watson receive enquires and instructions in relation to matters where parents of one or other of the parties have provided money to assist the married or de facto couple. This often occurs when the couple seeks to purchase a matrimonial home or funds to commence a business. In the event that the relationship breaks down there is most often a debate as to how these funds are to be considered by the Family Court. There is a fundamental difference.Read more...
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30/11/2015Joanne approached Richard Watson an experienced family lawyer of Watson & Watson after separating from Paul after 20 years of marriage. Joanne and Paul had numerous discussions including mediation as to the possible division of the assets of the marriage before approaching Watson & Watson. However, the matter could not be resolved.Read more...
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23/11/2015Watson & Watson were consulted by Mary who needed advice in relation to how to achieve a division of property following a breakdown of the marriage to James. James and Mary are Australians but met in and married in New Zealand in 2000.Read more...
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16/11/2015Superannuation spilt between either married couple or de facto partners.Read more...
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09/11/2015Not all superannuation entitlements can be split. We will advise you in relation to all alternatives in relation to your superannuation and the superannuation of your spouse or de facto partner.Read more...
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19/10/2015Watson & Watson received instructions from Ralph after his marriage had broken down. The husband and wife had been married for many years and had 3 children, 2 of whom had left school and were adults. The assets consisted of the family home, a business owned by the husband, wife and extended family and numerous property holdings including the land from which the business operated and various home units mainly relatively low value home units throughout Sydney.Read more...
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12/10/2015Watson & Watson act for Sally. Robert and Sally had been married for 10 years and have two children aged 6 and 9. They both live in the house owned by them in joint names. The house is a large house and there is a mortgage to the bank.Read more...
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20/08/2015The Family Court and the Federal Circuit Court are the Courts that hear and determine applications for property division. These Courts can also approve Orders agreed on by parties. These are known as Consent Orders. Time limits apply to applications for property division and maintenance Orders.Read more...
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12/08/2015As part of the process the Court determines what are the assets available for distribution between the parties and what are the valuations of those particular assets.Read more...
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11/08/2015When a marriage breaks down, there are extensive rules governing how the assets of the marriage are to be divided between the parties to the marriage. The assets to be taken into consideration in the division of the assets of the parties includes a business in which one or other or both have an interest.Read more...
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10/08/2015Taylor’s case in the Full Court Family Court reviewed numerous previously reported cases and observed the following.Read more...
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09/07/2015The importance of properly considering offers made to you and properly considering offers to be made by you to the other party to resolve either particular issues or the whole of proceedings between the parties.Read more...
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02/07/2015In cases decided under the Family Law Act the general principal is that the Court does not make an order that one party to the proceedings will pay the other party’s costs of the proceedings. Usually each party is to pay their own legal costs. However, there are exceptions to this general principal. Section 117 of the Family Law Act provides the circumstances in which the Court may order one party to pay the other party’s costs.Read more...
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19/05/2015Margaret and Bob met in 2005. Margaret had been previously married and owned a house in which she lived and which was fully paid off. Bob moved in to the Margaret’s house.Read more...
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Asset Protection until finalisation of distribution of assets – Stopping your partner selling assets12/05/2015Maria approached Watson & Watson solicitors following the breakdown of her marriage with Sam and becoming concerned that Sam was taking steps to dispose of the assets of the marriage.Read more...
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16/03/2015George had been married to Nadia for approximately 16 years. Nadia’s parents had provided significant financial support during their marriage. The support was provided significantly through Trusts that had been set up by Nadia’s parents for them and their children. The Trusts were discretionary and were completely controlled by Nadia’s parents. Nadia had no entitlement to capital and was at best, a discretionary beneficiary.Read more...
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05/02/2015Mark approached Watson & Watson following the breakdown of his marriage with Gail. Mark and Gail had agreed to allocation and distribution of the matrimonial property. Mark was concerned that once the settlement had been effected that he protect himself from further claims.Read more...
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27/01/2015Karen approached Watson & Watson for advice a long time after a property settlement with Court Consent Orders with her former husband, Peter. Karen was very concerned that property which she was aware of, had not been included in any financial disclosure by Peter at the time of settlement. This property was “family owned”, Peter denied that it was his property.Read more...
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06/01/2015Craig approached Watson & Watson in relation to the breakdown of his same sex de facto relationship with Donald following their separation in 2013. Donald and Craig had been in the de facto relationship since 2002 and lived in Sydney.Read more...
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30/12/2014Jenny approached Watson & Watson for advice on spousal maintenance following separation from Ross whom she had been married to for 20 years. Watson & Watson were able to negotiate an interim spousal regime so that Jenny had sufficient funds to live on pending resolution of the property issues. Jenny remained in the former matrimonial home with the 3 children.Read more...
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14/12/2014Paul and Mary want to get married. Paul is 52 and Mary is 46. Both have been married before and have had property settlements with their former partners, both own their own house and have other assets including savings and shares. Paul has an investment property. Both have children from their first marriages.Read more...
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19/07/2014Property cases have four components: identifying and valuing the asset pool and financial resources, assessing contributions, FLA s. 75 (2) factors and the just and equitable principles. Financial disclosure obligations apply to all matters in issue in the proceedings, and often that can be all four components.Read more...
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19/07/2014More and more third parties are finding themselves involved not just as witnesses but as parties to litigation in the Family and Federal Magistrates Courts. This paper addresses some of the practical issues which may arise in such cases.Read more...
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19/07/2014An application for a property settlement can be made at any time after separation but must be made within 12 months of a divorce.Read more...
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19/07/2014Getting divorced is a traumatic experience – especially if there are children involved.Read more...
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04/06/2013Watson & Watson received instructions after a matter had been listed for hearing where approximately $1 million had been spent by the parties for legal and forensic accounting fees. The proceedings were not ready for hearing. One party in particular was more focused on attacking the other which in effect was self-destructive to the relationship and conducive to a prompt resolution.Read more...
Property Settlement, Financial Settlements & Spousal Maintenance Lawyers
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Richard Watson - Principal Family Lawyer
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Dennis Grant - Senior Family Lawyer
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