Divorce Guide

Distribution of property after divorce

Distribution of property following divorce and separation should be done carefully. Divorce and separation have a deep impact on the finances of a family. All the assets which were owned by the family get distributed. Distribution of property after divorce in Australia is an important step. The property and other assets need to be distributed among the couple in a just manner. Also, the debts need to be distributed so as each one receives a proper share of assets and liabilities.

There are a number of ways in which the assets are distributed among the separating couple in Australia.

1. Both the persons involved can agree on the division of assets and the court will not interfere with this
2. Apply for consent orders in the court after the agreement is prepared
3. Apply in the court for financial orders and division of assets The court decides the division of financial assets on the following:
   1. The assets and debts and their total worth
   2. Consider the direct financial contribution of an individual for the assets
   3. Considering things like gifts, inheritance, etc.
   4. Other non financial responsibilities of the partners
   5. Requirements of the people involved

   The distribution of the assets is done differently in each family as the circumstances vary within each family. Though there are certain formulas to division of property after divorce, the court orders consider all the facts before making any decision.

   There are no very strict rules regarding the distribution of property after divorce in Australia. The judges have an upper hand in deciding such things and the property can be split as per his judgment. Care is taken to see that in short term marriages; each partner gets at least what he/she has invested. In case the marriage has lasted for 10 or more years, the property and debts are divided equally among the couple.

   Mediator and property distribution

   It is always better to avoid any property dispute. It is a good idea to get a mediator involved for division in property. An accountant can make a good mediator and can be hired. The mediator can reach an agreement between both the parties. There may be some property which both the partners may refuse to have. This can be sold and the profits shared equally.

   Distribution of finances is important while you apply for divorce and get it. Divorce puts a financial burden on the couple involved. Proper and just distribution of assets is expected and you can follow the tips given in this article and get the distribution of your assets done.

Divorce Advice for Australians
Child Custody in Australia
Child Support in Australia
Divorce Laws in Australia
Divorce & Legal Assistance in Australia
Divorce Rights in Australia
Filing for Divorce in Australia
No Fault Divorce in Australia
Post Divorce Advice
Post Divorce Financial Advice