Property Settlement

When a relationship or marriage ends, dividing property and assets is often one of the most complex and contentious aspects of separation. At Mahony’s, our experienced property settlement lawyers in Adelaide are here to guide you through the process of dividing your property and financial assets fairly and equitably. Whether you’re negotiating a property settlement through mediation or need court intervention to resolve disputes, we ensure your rights are protected and help secure your financial future.

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In South Australia, property settlements involve more than just splitting the family home. It includes all assets, liabilities, and superannuation accumulated during the relationship. Our team will help you navigate the legal intricacies, ensuring that your property settlement is fair and comprehensive.

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Why Choose Mahony’s Property Settlement Lawyers in Adelaide?

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• Expertise in Complex Property Settlements: We have years of experience handling property and asset division cases, ensuring you get a fair settlement that protects your financial interests.
• Tailored Legal Strategies: Every separation is unique, and we provide personalised legal strategies based on your specific circumstances.
• Clear and Practical Guidance: We simplify the process for you, explaining each step and ensuring you understand your rights and options during property negotiations.
• We Are Here for You: From the initial consultation to the final property settlement, we are committed to securing a fair outcome that allows you to move forward with confidence.

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How is Property Divided After Separation in Adelaide?

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In South Australia, property settlements are determined based on the principle of fairness, but fairness doesn’t always mean a 50/50 split. The Family Court considers a range of factors when dividing assets and liabilities, including:

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1. Assets and Liabilities: This includes the family home, cars, savings, shares, businesses, superannuation, and any outstanding debts. All assets, whether owned jointly or individually, are considered in the settlement.
2. Financial Contributions: The court considers both direct financial contributions (such as salary or savings) and indirect contributions (such as homemaking or raising children) made by each party during the relationship.
3. Non-Financial Contributions: Contributions to the family’s well-being, such as caring for children or maintaining the home, are also taken into account.
4. Future Needs: The court looks at the future needs of both parties, including factors like age, health, income-earning capacity, and care of any dependent children.

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Our property settlement lawyers will help you assess all these factors, negotiate with the other party, and, if necessary, represent you in court to ensure a fair division of assets.

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Property Settlement Timeline After Separation

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One of the most common questions in property settlements is how long the process takes. The timeline can vary depending on the complexity of the assets and whether disputes arise, but a general overview is:

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Step 1: Separation and Disclosure

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After separating, both parties need to fully disclose their financial situation, including all assets, liabilities, income, and superannuation. This transparency is essential for ensuring a fair property settlement. It’s important to start this process as soon as possible after separation.

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Step 2: Negotiation and Mediation

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In most cases, property settlements can be resolved through negotiation or mediation, without going to court. This step can take anywhere from a few weeks to several months, depending on how quickly both parties can reach an agreement. Our team will represent you in these negotiations, ensuring your interests are protected.

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Step 3: Formalising the Agreement

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Once an agreement is reached, it’s crucial to formalise the settlement either through a consent order or a binding financial agreement. This ensures the agreement is legally enforceable and protects both parties from future claims.

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Step 4: Court Proceedings (if necessary)

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If mediation fails, you may need to apply to the Family Court for a property settlement. Court proceedings can take significantly longer, often between 12 to 24 months, depending on the complexity of the case. Our property settlement lawyers will represent you in court to ensure your rights are upheld.

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Time Limits:

• For married couples, you have up to 12 months after your divorce is finalised to make a property settlement.
• For de facto couples, you have up to two years after separation to finalise property arrangements.

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Property Settlements and Superannuation

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Superannuation is often a significant asset in a property settlement, and it can be split between parties like any other financial asset. This process, known as superannuation splitting, allows each party to receive a portion of the other’s superannuation fund. Our team will guide you through the complexities of superannuation splitting to ensure a fair division, considering factors like the length of the relationship and each party’s contributions.

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