Divorce is never easy, and navigating financial settlements can be one of the most challenging aspects. In Perth, understanding the complexities of financial settlements is essential to ensure a fair division of assets. Leach Legal offers the expertise and strategic guidance needed to manage with confidence.
Understanding Financial Settlements in Divorce
A financial settlement involves the division of assets, liabilities, and financial resources between separating parties. In Western Australia, the Family Court follows a structured approach to ensure that the division is “just and equitable.” This process typically involves:
- Identifying and valuing assets and liabilities Both parties are required to fully disclose their financial situations, including properties, investments, superannuation, and debts. This transparency helps create a clear financial picture for accurate evaluation.
- Assessing contributions. The court examines both financial and non-financial contributions. This includes income, property brought into the marriage, and contributions as a homemaker or parent.
- Considering future needs. Factors such as age, health, earning capacity, and child-rearing responsibilities are considered to assess each party’s future financial needs.
- Ensuring a just and equitable outcome. The court ensures that the proposed settlement is fair to both parties. Unlike common misconceptions, there is no automatic 50/50 split; each case is assessed on its unique circumstances.
A formidable approach to navigating financial settlements
Leach Legal stands out among divorce lawyers in Perth for its formidable approach and collaborative processes. As the largest team of family lawyers in Western Australia, we provide:
Specialised expertise: Interpreting complex family law to inform our clients of their rights and obligations, ensuring they make informed decisions. We focus exclusively on family law, ensuring clients receive knowledgeable and strategic representation.
Client-centric solutions: Recognising that every case is unique, our lawyers tailor their approach to meet individual client needs. Our aim is to reach amicable agreements through mediation to minimise emotional and financial stress on our clients. When necessary, Leach Legal advocates for clients in court, presenting compelling cases to achieve favourable outcomes.
The importance of timely action
In Western Australia, strict timeframes apply for financial settlement applications:
Married couples: Applications must be made within one year of the divorce becoming final.
De facto couples: Applications should be filed within two years of the relationship breakdown.
Failing to apply within these periods may require special permission from the court, which is not always granted. It is crucial to seek legal advice early to avoid complications.
Strategic support during your legal journey
Navigating financial settlements during a divorce can be complex, but having the right strategic support makes all the difference. Leach Legal provides the expertise, guidance, and personalised solutions needed to achieve the best possible outcomes. Our formidable and collaborative approach, combined with a deep understanding of family law, ensures our clients feel confident throughout their legal journey.
Leach Legal’s commitment to delivering the highest standard of legal representation solidifies its position as the leading choice for divorce lawyers in Perth. If you need expert assistance with financial settlements, contact our team of lawyers today.
