upon the breakdown of a marriage or de facto marriage it is recommended that each party seek legal advice regarding their property entitlements.
The Family Court Act (WA) applies to de facto marriages and the Family Law Act (Cth) applies to married couples. Common to both Acts is a list of factors which the court will consider in determining each parties percentage share of the matrimonial asset pool. The following is a non-exhaustive list of some of the key factors which the court will take into consideration.
Direct and indirect financial contributions of the parties to the acquisition, conservation or improvement of any of the property of the parties to the marriage.
Direct and indirect non-financial contributions of the parties to the acquisition, conservation or improvement of any of the property of the parties to the marriage.
- Contributions to the welfare of the family as a home-maker and/or parent.
- The age and state of health of each party.
- The income, property and financial resources of each party.
- The physical and mental capacity of each party for appropriate gainful employment.
- Whether a party has care or control of a child who has not attained 18 years of age.
- Commitments of the party necessary for their self-support.
- Commitments of the party necessary for the support of children and other persons to whom the party has a legal duty to maintain.
- The earning capacity of each party.
If you require legal advice regarding your property entitlements, it may be of assistance to your solicitor if you are able to provide evidence of such factors in your initial appointment.
For further information please contact our office to arrange an appointment with one of our family law lawyers
Disclaimer : This article provides basic information only and is not a substitute for a professional or legal advice. It is prudent to obtain legal advice from a family lawyer.