1. Identify your existing property assets
Your separation means it is no longer practical for you to own property jointly or have an ongoing financial relationship, so the Court will need to make an order to reflect this.
2. Relationship contributions
Past transactions need to be reviewed to consider each of your financial and non-financial contributions to your property, plus any contributions as homemaker and parent, and make a preliminary percentage division based on those contributions.
3. Future Needs
Assess both of your ongoing future needs and other factors, before deciding whether it should make an adjustment to the percentage split made in the previous step.
4. Just and equitable outcome
A determination of what would be a ‘just and equitable’ property settlement is made.
If you need help negotiating a fair property settlement, we are here to help.