The Family Law Act 1975 sets out the general principles the court considers when deciding financial disputes after the breakdown of a marriage or a de facto relationship. The general principles are the same, regardless of whether the parties were in a marriage or a de facto relationship, and are based on:

working out what you’ve got and what you owe, that is your assets and debts and what they are worth, looking at the direct financial contributions by each party to the marriage or de facto relationship such as wage and salary earnings looking at indirect financial contributions by each party such as gifts and inheritances from families looking at the non-financial contributions to the marriage or de facto relationship such as caring for children and homemaking, and future requirements – a court will consider things like age, health, financial resources, care of children and ability to earn.

It is important to contact Impetus Lawyers to avoid regrets.