Separation, Divorce and Asset Division

In Australia, you may apply for a divorce if you satisfied the below requirements:

Step 1

• You or your spouse regard Australia as your home and intend to live in Australia indefinitely, or
• You or your spouse is an Australian citizen by birth, descent or by grant of Australian citizenship, or
• You or your spouse ordinarily live in Australia and have done so for 12 months immediately before filing for divorce.

Step 2

You also need to satisfy the Court that:

• You and your spouse have lived separately and apart for at least 12 months, and
• There is no reasonable likelihood of resuming married life.

(Note: It is possible to live together in the same home and still be separated)

Asset Division – What do you need to consider?

If you are currently separated and considering a divorce, then it’s important you understand that there’s no mathematical formula to decide who gets what. This is because each relationship is unique.

You and your former partner will have to think about how to split up your property and other aspects of your finances like superannuation and debts. You also need to think about whether one of you should give ongoing financial support to the other.

The Family Law Act states that the division of assets in a divorce must be ‘just’ and ‘equitable’.

In situation where you and your former partner can agree on how to split your assets, it is a good idea to formalise your agreement and make it legally binding. You can do this by:

• applying for a consent order; or
• making a binding financial agreement.

It is important to note that only a small number of cases actually go to court. Most cases are resolved through mediation and solicitor to solicitor negotiations. If you would like to know more about your rights and option or to have a Binding Financial Agreement or Consent Orders drafted, Straits Lawyers are now offering online services at https://straits-lawyers.square.site/product/family-law-binding-financial-agreement-consultation-bfa-/5?cs=true.

Alternatively, you send us an email at info@straitslawyers.com or give us a call on 8410 9069 to arrange an appointment for an online interview.

Please note that this article does not constitute legal advice and Straits Lawyers will not be legally responsible for any actions you take based on this article.