Property Settlement: The Four Step Process
Article by Townsville Family Lawyer, Jodi Dingwall
When separating from a former partner or spouse there is usually a need to talk about how you are going to divvy up your property. This includes your assets, debts and superannuation entitlements.
It might seem overwhelming – but it doesn’t have to be.
When I meet a new client to talk about property settlement with their former spouse, before I give specific advice about their situation, I take the time to firstly explain the Four Step Process the Court follows to determine the division of property.
In this two-part article, I will explain this process
The Four Step Process is based on various sections in the Family Law Act 1975 (Cth) that a Judge must apply when deciding how to divide property.
Walking a client through this process is important as this is the basis on which a family lawyer gives advice to a client about their range of entitlements in a property settlement. It also helps to identify issues and how to best move forward.
When giving advice about property, a family lawyer should be benchmarking their advice against what a Judge would decide if the matter could not settle, and it went to Court.