By Anita Petrovic.
True love may not always last forever. Just because you enter a de facto relationship or marriage with someone does not mean they are automatically entitled to half or even a portion of what you own.
In all property matters, the Court undertakes a four step process to determine if or how to divide the property of the parties:
- All property owned by the parties is integrated into a single Balance Sheet.
- The Court then looks at the contributions that each party made to the Balance Sheet, including financial, non-financial and homemaker/parenting contributions.
- The Court then looks at the future needs of the parties including their ages, health, whether any of them have primary care of a minor child of the relationship and their income.
- The Court then takes a step back and examines whether the outcome of the above examination is just and equitable.
In short relationships, the Court looks much more closely at what each party brought into the relationship and their direct financial contributions to the Balance Sheet, particularly where there are no children of the relationship.
It is vital that you keep documentary evidence of your initial and direct financial contributions if you find yourself having to negotiate a property settlement or seek orders from the Court.
If you find yourself in this situation, we can help. Please contact us if you would like assistance with your property matter.
