Best Property Settlement Lawyers Adelaide

1. ADELAIDE FAMILY LAWYERS https://adelaidefamilylawyers.com.au/

2. PR OCESS OF PR OPER TY SETTLEMENT EX PLAINED! The most difficult part of separation is the settlement of property which means which person will get what after separation. Divorce Lawyer SA considers it as the most conflict inducing part of a separation. The property settlement can be achieved either by mutual agreement among both the individuals or by involving the court. However, in most cases, people are unable to agree among themselves. Hence, hiring the best property settlement lawyers is the best option in such cases.

3. This article includes a detailed explanation of the process of the property settlement. Step 1 — Determining the asset pool This is the first step that is done with the help of a court. The court determines the value of your and your partner’s assets. Every asset is taken into consideration whether you own it individually or jointly. The assets include property, shares, cars, jewelry, savings, furniture, etc. The liabilities are also considered which include mortgages, car loans, personal loans, and credit card balances. Usually, the items are valued by the court during the date of hearing. The value of the items can be decided by a valuer or by agreement. Step 2 — Contributions of each person The court will then consider contributions made by both the people in the relationship. It includes financial as well as non-financial contributions. It also includes contributions made in the form of a homemaker or a parent. Every single effort including gifts, inheritances, renovation or money received during the marriage is determined.

4. Step 3 — Future needs of each In the third step, the future needs of you and your partner are assessed by the court. The future needs are assessed taking into account all the factors such as age, income earning capacity, health, property, and resources of each party, care of a young child and payment of child support. At this step, the court also considers the adjustments needed for the future needs of the partners. Once the individual needs of each party are determined, the court will divide the Net Asset Pool. Step 4 — J ust and equitable Once all the previous steps have been followed and the assets divided, the court reaches its final step. Here, the courts review its assessment and look to see whether the percentage of division and allocation of assets is just and equitable. The court will also consider the long term effect of the settlement on each partner. Once everything is reviewed, the court will then finally divide the net property to reach the property settlement.

5. The process of property settlement is not a simple one. Hence, it cannot be achieved at an individual level. Each party must have well- experienced lawyers. Adelaide Family Lawyers provide specialized consultation with experienced family lawyers to assess your matter and offer comprehensive advice. Contact Adelaide Family Lawyers to make an appointment today. Adelaide Family Lawyers Address : Suite 2/75a Angas Street, Adelaide, SA, 5000 Australia Ph No. : (08)8227 0519 E-mail : admin@adelaidefamilylawyers.com.au Website: https://adelaidefamilylawyers.com.au/