Even with the best intentions, it is essential to get legal advice in a divorce.
The Family Law Act requires full financial disclosure in divorce proceedings. One of the big problems here is that often within relationships, one party takes care of the finances, while the other party is simply not interested.
This creates risks in relation to the hiding of matrimonial assets.
For more information, read the article “The Blindside: Financial Strain of Divorce Laid Bare”.
As Greg Martin, our principal, says:
This article by Nicole Madigan in the Sydney Morning Herald excellently points out some of the common misconceptions in Family Law.
Firstly, cash and property held in one person’s name do not automatically belong to that person following a divorce.
Secondly, superannuation is considered property, and is included in the asset pool, where everything is up for negotiation.
Thirdly, normally inheritances and gifts are included in the asset pool.
Fourthly, the date for valuation of assets is the date of settlement or hearing, not the date of separation. This often means increases in real estate values or share prices can greatly affect the asset pool, the size of the pie to be divided.
Martin Bullock Lawyers have access to excellent financial counsellors, and psychological counsellors, who can help get you through the grief and hardships of a relationship breakup.
And of course, Martin Bullock Lawyers are the best place to go to get your legal advice.
Call us now on 02 9687 9322 so we can help you get the best result.