The Family Law Act conveys extensive powers to the Courts to enable just and equitable orders to be made for the division of property, spousal maintenance and the splitting of superannuation. The legislation is complex and we urge you to take expert advice to ensure you are making informed decisions about the financial aspects following separation.
Let’s discuss how we can support you regarding your financial arrangements.
Family law property settlements involve the division of assets and liabilities between parties in accordance with principles of justice and equity outlined in the Family Law Act. The Courts will consider factors including the financial and non-financial contributions of each party, future needs and in recent legislative changes, the impact of family violence in the context of property settlements to ensure a fair resolution tailored to the circumstances of each case.
Talk to us about how we can assist you with your property settlement.
In Australia, the financial maintenance of a former spouse or de facto partner is referred to as Spousal Maintenance. Where the recipient cannot adequately support themselves from their own income, an application for spousal maintenance can be made to the Court. When the other party also has the capacity to financially assist the first party, an order can be made for spousal maintenance. These payments can be negotiated between parties or ordered by the court, depending on the specific circumstances and needs of the individuals involved.
Get in touch with us at Tosh Colls Family Law for more information about whether spousal maintenance might be appropriate for you.
Some property settlements involve complex corporate structures, businesses multi-generational trusts and assets, income streams and businesses overseas. In most such matters it will be necessary for detailed valuation reports to be prepared by forensic accountants. Complex matters, such as these, require careful consideration and understanding of different valuation methodologies, inter-entity relationships and loans and various taxation, realisation and stamp-duty consequences arising as a result of a division of such assets, among other things. Such matters require expertise and experience to navigate successfully.
At Tosh Colls Family Law we have extensive experience in dealing with highly complex and high net wealth property matters including international assets and business interests.
Property settlements involving operational farming or agribusiness interests bring their own set of complexities and unique considerations. Often times such farming or agricultural businesses involve multi-generational family interests, government licences or contracts, water licences, unconventional living arrangements for various extended family members, stock or crop valuations as well as the valuation and ongoing financial viability of the actual business.
Trust that at Tosh Colls Family Law we have the expertise and experience to assist you with your particular agri-property settlement needs.
Superannuation splitting laws in Australia allow individuals to divide their superannuation entitlements as part of a property settlement during separation or divorce. These laws ensure that superannuation is treated as a special species of asset comprising the net assets available for distribution and enabling fair division of this asset type while considering the financial futures of both parties. Dealing with superannuation in the context of property settlements can be highly complex depending on the type of superannuation entitlement, whether it is in the growth or payment phase, whether the entitlement is in a retail fund, a closed fund such as military super or a self-managed superannuation fund.
Get in touch with Tosh Colls Family Law today to discuss your superannuation in the context of your property settlement.
For many of us, our pets are family. Up until now, the manner in which pets were dealt with in Family Law, (i.e. merely as chattels in a property settlement) was highly unsatisfactory. Under the new changes to the Family Law Act, pets can now be treated as ‘companion animals’ with the court considering the welfare of the animal and the bond shared with the parties involved. This approach reflects the growing recognition of pets as family members and ensures their welfare is safeguarded during family law disputes.
Let us help you today regarding your pets in the context of family law.
