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Percentage Split of Property on Separation

14 November 2018/Uncategorized

Often when people consider how to calculate a property settlement after a divorce, the assumption is that a 50% split of the assets and superannuation is a fair outcome for both parties, however this is incorrect as nowhere in the Family Law Act does a presumption exist of a 50% split to each party of the relationship.

In most cases a 50/50 distribution of the asset pool would not necessarily be a fair outcome for both parties. This is reflected in Court decisions where the length of a relationship, contributions and future needs of both parties are factored in which typically result in one party receiving more of the assets than the other.

It is also worth noting that property settlement entitlements apply not only to married couples seeking to end their relationship but also to defacto couples who have been in a relationship for a period of at least 2 years or who have had a child to the relationship.

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