A bit about me!

Clarissa RaywardDirector Brisbane Family Law Centre

Accredited Family Law SpecialistMediator & Collaborative Family Lawyer

Also known as “The Happy Family Lawyer”www.thehappyfamilylawyer.com

How will this work?• Please ask questions

• This is general information and remember you should obtain advice specific to your family

What are we going to cover?1. Common legal confusions2. Legal principles relating to financial

matters3. How to negotiate an agreement

relating to financial matters4. What sort of legal document do you

need5. Important time frames6. Other things to think about

The 3 legal issues to consider-

1. Financial matters (property/ child support/ spousal maintenance)

2. Parenting matters3. Divorce

Today we are focusing on property division and spousal

maintenance

The common legal confusions about financial matters after separation!

• I am entitled to 70%!• I had it before we met-

It’s mine!• I earned all the

money!• I want the house!• It’s just 50/50 right?• But it was my

inheritance!• He does not need to

know about that account!

Property Division

The division between you and your former partner of all the things that you have together

AssetsLiabilitiesSuperannuationFinancial Resources

Does it matter if we are not married?

Property DivisionThe Legal Principles

The 4 stage process-1. What do you have2. How did you get it3. What else should be considered4. Is the division ‘just and

equitable’

Step 1- What do you have?

Identify the property/ financial resources/ superannuation of each of you

Value how & when?

Think about how you might gather thisinformation?

Step 2- How did you get it?

Assess the contributions made by each of you to the assets of the relationship

3 main types of contributions-1. Financial2. Non-financial 3. Welfare of the family

Timing & type of contributions are all relevant

Step 3 What else to consider

19 Section 75(2) factors

The Crystal Ball Step…

Trying to look into the future

Step 4Is it Just and Equitable?

The type of assets and their ‘value’ is as important as the %…

For example- Best v Best (1993)

A few things to remember1. It is the value of the things

you have on the day you finalise a settlement, not the date of separation

2. This is a ‘discretionary’ area of law- therefore there is limited certainty

Spousal Maintenance

The financial support provided by one spouse to the other after separation

Spousal MaintenanceThe Legal Principles

1. One spouse can demonstrate a ‘need’ for support2. The other spouse has the capacity to meet this need

There are different types of maintenance-

Interim, cash or in kind

Important Time Frames

Defacto- 2 years from the date of separation

Married- 12 months from the date of divorce

So what does all this mean?

The Courts should be your last resort. You and your partner are the best decision makers in relation to your finances

So what should you do?There are 3 options-1. No formal agreement2. Binding Financial

Agreement3. Court Order (by consent or

as determined by a Court)

How can you reach agreement?There are 5 main ways

1. Kitchen table- do it yourself2. Mediation/ Family Dispute Resolution3. Collaborative Practice4. Solicitor based negotiation5. Court Determination

5 Top Tips when negotiating Financial Matters

1. Understand what is really important to you

How do you want life to look for you and your spouse?What are your goals & values?Where do you hope to be in a year?It is never really about “70%”

2. Balance in Commercial RealitiesFinancial and emotional cost of a dispute

3. Obtain financial advice about your options

4. There is more than one solution to every problem

5. Look for options that are ‘win win’ Try and generate as many ‘solutions’ or ‘options’ as you can & then look at the pros and cons of each before deciding how and when to negotiate

If you can understand what is important to your spouse (financial security, home

ownership) then you can look for solutions that will meet both of

your goals

Any Questions?

Wednesday 27 August 12.30pm

THANK YOU!