If you are going through a separation or divorce, you will no doubt have questions about how to divide your property.
In Australia, we have what is called the four-step process, the first step is about working out what property there is to divide between the parties. The starting point of any property settlement process is to assess what the property pool actually is in order to decide what the distribution to each party will be. It is not until we know the true value of the property pool that we can consider any of the other three steps in the four-step process. More importantly, if the true property pool isn’t known, it is impossible to assess
if an outcome is just and equitable. Often in a property settlement, the true values can be unknown and if that is the case, it is a good idea to seek advice from a family lawyer and get full and frank disclosure from the other side.
Listen to the podcast as Caralee breaks down exactly what each topic means for you:
1. The property pool is ALL assets, ALL interests, and ALL liabilities held by the parties;
2. It doesn’t matter how the property got there, and it doesn’t matter where the property is located;
3. Disclosure might be needed to verify things such as superannuation etc; and
4. Independent valuations may be needed.
We hope you find this podcast and the series helpful.
Remember, you’ve got this!
To discuss this in relevance to your Family Law matter, Hit the link to book your first free initial consultation with Collective Family Law Group. https://lawtap.com/au/law-firms/collective-family-law-group