Family lawyers on northern beaches advise on % splits in family law property disputes

1. What is the usual property split in Family Law?
2. There is no “usual” as each case depends on its own circumstances and is considered under the many factors provided in the Family Law Act.

The Family Law Act provides for the adjustment of property between parties. It can be an expensive battle if the parties do not agree on what are the assets and a percentage (%) split of those assets.

Example One: A property split of 73.2% to wife and 26.8% to Husband.

In one recent case, the Husband sought 45% of the assets. The Wife sought 100% of the “identifiable” assets. There was an issue of what were the assets. The Wife contended that the Husband had not fully disclosed all his assets. The Husband argued that the net value of the parties’ property should have been less than was found by the Judge.

The Judge held that the Husband deliberately failed to fully and frankly disclose his financial circumstances in the proceedings. Accordingly, the Judge did not need to be unduly cautious when making findings and drawing inferences about the Husband’s financial circumstances.

Example Two: A property split of 66% of net property to de facto wife and 34% to de facto husband.

The Husband sought an adjustment in the % split to take into account his limited earning capacity for the future. The Wife was older than the Husband and intended to retire in a few years’ time. The Husband, during the parties’ relationship, contributed to the wife’s current earning capacity, by his involvement in the establishment of the wife’s business, including by contributing and leaving funds in it, and by his work in the sales side of the business. The Court did not give an adjustment for the future earning ability of the Husband.

The Full Court of the Family Court was satisfied that the division of the parties’ property of 66% to the wife, and 34% to the husband, effected a just and equitable outcome considering all the relevant factors and circumstances and particularly, on a practical level, saw both parties with a sufficient capital base to enable appropriate housing, some security in retirement, and affords them some reserves to meet any unforeseen vicissitudes.

Don’t make offers to settle a family law property dispute before seeking legal advice. Consider sending an email to Kathy Chase at Pittwater Family Lawyers at: pittwaterfamilylawyers@gmail.com or telephone her on 0418 285 307 or (02) 9918 6565

http://www.pittwaterfamilylawyers.com.au