When couples separate, they usually need to divide up the property between them. This is known as property settlement in family law. Contrary to urban myth, there is no presumption at law that property will be distributed equally. That is, it’s not simply a 50:50 split.
Due to the complexities associated with drugs, alcohol and family violence in property settlement matters, there is no ‘one size fits all’ approach. Seeking experience legal advice will help protect your financial interests.
Many people do not think about superannuation when it comes to negotiating property settlement after separation. However, it is often a significant asset of a relationship and should be considered when dividing property.