While there is no definite formula to determine what a wife is entitled to in a divorce settlement in Australia, a final decision is made only after the court has heard all the evidence.

Divorce entitlement is usually circumstantial, however, a property settlement made prior can have an effect. A property settlement is when a valid Binding Financial Agreement is made, according to the Family Law Act. While such an agreement can overwrite the court’s authority in a divorce, it is possible that some of the terms can be considered void, which would then cause the entire agreement to be overruled.

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5 Step Approach for Property Settlements

Here is the 5-step approach that the Australian Family Court uses to determine the validity of a divorce settlement:

  • Step 1: If the property settlement is considered unjust or not equitable, the court will consider it void and each party will receive the assets and liabilities currently under their possession.
  • Step 2: A property pool is determined as of the date the documents are filed with the court. Any assets purchased after this date will also be considered part of the property pool and will be subject to division based on the Family Law Act.
  • Step 3: All financial and non-financial contributions included in the divorce proceedings are considered. All contributions that have been made towards acquiring, conserving, and improving a property are considered. This includes financial contributions made during the relationship and those paid after the date of separation.
    It is important to note that this also includes gifts and any kind of inheritance. Non-financial contributions include parenting, homemaking, and childcare. The court will consider both types of contributions and consider them to be equal, if required.
  • Step 4: Assessing future needs is an important part of the divorce process. Factors such as age, health, capacity to earn, and care for a child will determine which party should receive more for their future well-being.
  • Step 5: The court considers the practical effects of the proposed property settlement and determines whether it is just and equitable. Speak to a divorce lawyer Cairns residents can trust, such as those at WGC Lawyers. We will ensure that you get expert advice on whether or not a settlement is practical.

Skilled and Experienced Divorce Lawyer Cairns

Contact WGC Lawyers today for a free consultation with a family lawyer Cairns residents trust. If you are seeking a divorce and are unsure of your rights as a wife, speak to a member of our team today. We will ensure a comprehensive understanding of your rights under the Family Law Act.