Law

6 Important Questions about Divorce Property Settlement

Divorce leaves everyone involved exhausted; that’s why it’s highly regarded to hire reputable property settlement lawyers Brisbane has these days. Property is only an aspect of the whole divorce, but you have to be cautious about who’s getting who.

During a consultation with one of the property settlement lawyers Brisbane has, these are the questions you have to ask:

Q1 – If my partner and I mutually decide on one method of dividing our residential property, does it mean we should depend on the equitable distribution laws?

You don’t have to rely on the equitable distribution laws to divide the properties fairly. The court will merely deal with equitable distribution if separating partners can’t properly decide on how to divide their properties.

If they are both okay with their dividing process, except for a whole property, then the court will have to divide it for them.

Q2 – If I have the gifts given by my partner during our marriage, are they legally in my possession?

Gifts given during the marriage are you and your partner’s marital property. These gifts fall under the laws of equitable distribution.

Q3 – Do all types of properties fall under the laws of equitable distribution?

Not really.

In this case, the laws of equitable distribution only cover the marital type of properties. The latter includes the properties that were obtained throughout the marriage.

Properties that are obtained by descent, bequest, or gifting (except those presented for in a written statement) before or after the marriage are not considered marital properties.

Q4 – My partner committed adultery. Shall the court address this and grant me a bigger piece of the pie?

Sadly, they don’t address such facts. The court normally disregards adultery, addiction, and physical abuse when performing an equitable distribution of your marital properties.

Interestingly, they evaluate a party’s behaviour regarding their finances. According to the property settlement lawyers Brisbane wide, a partner who is caught in the act of concealing or moving marital properties maliciously may be given a lower percentage of the couple’s property.

Q5 – How does the court put a value on the assets?

The court bases on the fair market value during the marital litigation is reported or starter.

On the other hand, because it takes years before a divorce gets finalized, some areas allow the partners to collaborate in the depreciation or appreciation of the marital properties in the middle of the separation date and divorce date.

Q6 – Are the teenaged offspring, kids with disability, or partners with a disability considered as parties in the divorce?

If there are any of them present in a situation, the dividing of the assets must be shaped according to their present and future needs. These include housing and commuting requirements, which may go against the other healthy partner’s plan to get the car or the house.

Final Thoughts

Things can get messier if you are not meticulous in choosing family lawyers South East Queensland has these days. Even though there are many parenting custody settlement lawyers out there, this is not a reason for you to settle for less.

By asking the questions above, you can’t only ensure that your interests are prioritised—you will also be financially secured. If you’re looking for attorneys for Brisbane parenting divorce settlements, check out the McPhee Lawyers by visiting https://www.mcpheelawyers.com.au/services/property-matters/.