If the duration of a marriage is quite short, then the court will look specifically for financial contributions by the spouses for the marriage as well as the significant initial contributions to decide on the property settlement.
There are no fixed percentages that will be used to decide on who will get a major property settlement share and everything will depend on the state of affairs of the marriage. This article will talk about the various policies that the court will adopt in order to decide who gets the major chunk of the property settlement for a short duration marriage.
There is no hard and fast rule as to how much of percentage has to be allotted to the major contributor in a short marriage. The size of the property pool will be the detrimental factor in deciding the property settlement. There is a common notion that married couples and De Facto couples are treated the same way for property settlement which is absolutely baseless. The De Facto couples are treated with less fervor when compared to married couples. Property settlement considers into account all income, all assets and all financial obligations. Basically the courts consider the parties' financial and non-financial donations and future necessities.
In a lot of cases the shares of homemaker are crucial especially for long term matrimonies. In several illustrations with short weddings, later shares made by a party don't offset the first donation made by the other. Apparently, this is nowhere close to being important in short term weddings and especially where there are no kids.
Once a party has got a divorce, then they just have 12 months from that time to prepare an application for property settlement. The Family Law Court has super far-reaching powers in the field of property settlements and could give orders to line up the stakes of the parties in any property.
When the court is demanded to give an order it needs that it has each and every information prior to it in order that it might do this without favoring one party and moderately. Therefore, the court would call for all details about all income, assets and financial obligations both here and abroad so that appropriate thoughtfulness could be given to the sufficiency of any property settlement including revenue inferred from assets held in or on trust.