Understanding property settlement in a divorce, Queensland

Divorce proceedings can be an emotionally challenging experience, often made all the more difficult due to the need for property settlement between partners. In Queensland, property settlement is conducted through a specific legal framework that seeks to find the best possible outcome for both partners under the circumstances. At WGC Lawyers, we find that the best way to get through this difficult time is with the help of a divorce lawyer in Cairns who can help you understand the legal process and remain objective on your behalf. 

Property Settlement During Divorce

Property settlement is about identifying and valuing assets, financial contributions, and future needs of each party. A family lawyer in Cairns will take all the assets into account and aim to achieve an equitable distribution for the client. Property settlement is outlined under the Family Law Act 1975 and provides the Court with a four-step process: 

• Identification and valuation of all assets and liabilities 
• Ascertain all financial and non-financial contributions made by each party 
• Consider future earning capacity, needs, health and child care responsibilities 
• Ensure that the settlement is just and equitable to all parties

Why Hire a Divorce Lawyer in Cairns? 

With the help of a family lawyer in Cairns, you improve your chances of getting the best possible outcome. A divorce lawyer is the best person to guide you through the legal process, inform you of your rights as well as your obligations, and work on your behalf to get the best possible outcome. 

An experienced divorce lawyer understands the nuances of divorce proceedings, knows precisely how to file documentation and how to interact with the courts appropriately. Speak to a divorce lawyer in Cairns to ensure the optimal outcome for you.

Valuation Of Assets and Liabilities

A property settlement will involve consideration of all types of property, including real estate, bank accounts, vehicles, personal belongings and investments. The valuation will also include all mortgages, credit card bills and loans, and is conducted by objective professionals.

Financial and Non-Financial Contributions

Financial contributions include income earned, assets and financial support. However, non-financial contributions such as childcare, homemaking and improvement of the property are also considered significant during a divorce. 

It is important to note that length of a relationship, income earning ability and financial sacrifices play a role in a property settlement. 

Future Needs Of Parties 

Courts take great care to ensure that the future needs of parties are protected during a divorce settlement. An expert family lawyer in Cairns will consider your age, health, childcare responsibilities and other factors to ensure that your needs are taken care of. 

Experienced Divorce Lawyers In Queensland

Contact WGC Lawyers today to speak with a team of compassionate divorce lawyers. Our lawyers combine years of divorce law experience to ensure that you get the best possible outcome from a property settlement.