When a marriage or a de facto relationship has come to the point that the only way you hope to make things better is by getting a separation, there are a lot of things that come with it. A separation requires a lot of decisions to be made on your end of things, such as deciding about the “custody” of your children if you have any, or sorting out the legal matters of your divorce such as prenuptials.
Division of Marital Assets
Perhaps one of the most difficult decisions will be the division of your marital assets. A separation entails that you and your partners will now go their own ways, and when you do, you will have to how the assets, as well as debts that you’ve got during your marriage, will be split.
Dividing marital assets can be difficult and a tricky task. That’s where Platinum Lawyers come in. We are one of the top family lawyers in Sydney, and we can give you numerous tips on the subject to prepare you for it.
Ways in which you can divide your marital assets at the end of a relationship.
1. You and your partner (former) can both come to agreement on how the property and debts should be divided, without having to involve the court. If both parties have come to an agreement on the terms, all there is to be done is apply for a consent order in the Family Court to legalise the agreement.
2. If you and your former partner can’t seem to come to terms on how the assets and debts should be divided at the end of a relationship, you can apply for financial orders including orders related to division of property or whatever your case entails, in the Family Court.
It is important to note that if you are applying for financial orders in the court, there is no set formula on how the property will be divided. No lawyer can tell you exactly about what the court will order, however a good family lawyer(s) like the ones at Platinum Lawyers can give you a good estimate about it. The court makes its decisions based on the unique facts of each case, so it is hard to gauge the exact outcome.
FAQ: How Platinum Lawyers Can Help with Dividing Marital Assets after a Separation
Q: Why is the division of marital assets considered a challenging task during a separation?
A: The division of marital assets is challenging due to emotional and financial complexities. Determining a fair and equitable distribution requires careful consideration of various factors.
Q: How can Platinum Lawyers assist in navigating the complexities of dividing marital assets?
A: Platinum Lawyers, as one of the top Family Lawyers in Sydney, provides valuable tips and guidance on the subject, preparing you for the challenges associated with dividing marital assets.
Q: What are the ways in which Platinum Lawyers can assist in the process of dividing marital assets?
A: Platinum Lawyers can assist by offering expert advice on negotiating agreements with your former partner. Whether you choose to reach a mutual agreement or need to file financial orders in the Family Court, their experienced family lawyers can guide you through the process.
Q: How can a mutual agreement on property and debt division be formalized without involving the court?
A: If both parties agree on the terms, Platinum Lawyers can assist in applying for a consent order in the Family Court to legally formalize the agreement without the need for court involvement.
Q: What if former partners cannot agree on how assets and debts should be divided at the end of a relationship?
A: If agreement cannot be reached, Platinum Lawyers can help you apply for financial orders in the Family Court, addressing issues related to the division of property or other relevant matters.
Q: Is there a set formula for property division in court-ordered financial orders?
A: No, there is no set formula for property division in court-ordered financial orders. The court makes decisions based on the unique facts of each case.
Q: How can Platinum Lawyers provide assistance if financial orders need to be filed in court?
A: Platinum Lawyers can guide you through the process of filing financial orders in the Family Court, providing estimates and insights into possible outcomes based on their expertise in family law matters.
Platinum Lawyers can help you out with the process, in any way you wish. Either you want to file financial orders or just want to legalise a Mutually Accepted Agreement, we are one of the best Family Lawyers in Sydney and have expertise in matters related to the Family Court. Contact us at (02) 8084 2764. to find out more.
