Gold Coast Property Settlement Lawyers

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Property settlement is an important aspect of finalising matters should your relationship breakdown. It involves the division of assets and liabilities accumulated during a marriage or de facto relationship. At Frigo James Legal, we play a crucial role in helping people navigate this complex and often emotionally charged process in the most efficient and cost-effective manner.

Understanding Property Settlement

Before delving into the role of lawyers in property settlement, it is essential to have a solid understanding of the process itself. Property settlement refers to the legal process of distributing assets and liabilities between separating parties. It aims to achieve a ‘just and equitable’ (or ‘fair’) division of property, taking into account the individual circumstances and contributions of each party.

Property settlement is a crucial step in the aftermath of a separation, as it determines how the assets and debts accumulated during the relationship will be divided.

The Basics of Property Settlement

Property settlement involves the identification, valuation, and distribution of assets such as property, investments, businesses, and financial accounts, following separation. Liabilities, including mortgages, loans, and credit card debts, are also taken into consideration. The process focuses on achieving a just outcome that considers factors such as financial contributions, non-financial contributions, and the future needs of each party, including those needs that may arise as a consequence of one party have the main responsibility for caring for a child or children from the relationship.

When it comes to property settlement, it is important to note that assets are not limited to physical property. They can also include shares, superannuation funds, and even intellectual property.  To ensure a fair division, each asset must be carefully considered and assigned a value.

Property settlements are not solely concerned with the financial contributions made by each party during the relationship. Non-financial contributions, such as homemaking, child-rearing, and support provided to the other party's career, are also taken into account. This recognises the often overlooked contributions that individuals make to the household and the relationship.

Legal Aspects of Property Settlement

Property settlement is guided by family law legislation and legal principles. In Australia, the Family Law Act 1975 provides the framework for property settlement matters. The court has the power to make orders for property distribution, but parties are encouraged to reach agreements through negotiation, mediation, or alternative dispute resolution methods before resorting to court proceedings.

At Frigo James Legal, we provide expert advice, assist in negotiations, and help our clients navigate the legal complexities involved. We help our clients understand their rights and obligations, assess the value of assets, and advocate for their best interests throughout the process.

The Property Settlement Process

Determining the entitlement to a property settlement can be a complex and challenging process, and there is no one-size-fits-all formula to determine the percentage division of assets following a separation. It is important to avoid relying on popular myths or hearsay from family or friends, as the ‘just and equitable’ division of property follows a structured four-step process.

The first step is to determine the net value of the property pool, including the value of each asset or interest and any associated debts.

The second step involves identifying the contributions made by each party to the relationship, both financial and non-financial, including parenting and homemaking contributions, gifts, inheritances etc
In the third step, future needs are considered, such as the age and state of health and the financial needs of each party, income and financial resources, capacity for future employment, care arrangements and needs of any children, eligibility for benefits or superannuation, child support payments, and any other factors relevant to ensuring a just and equitable division of property.

Finally, the fourth step ensures that the division of assets is "just and equitable," taking into account the value of the property pool, contributions made by each party, and future needs.

This step involves a realistic assessment of whether the final deal is achievable in a real dollar sense and is fair for both parties.

It is essential to approach the process of determining entitlement to a property settlement with the help of a professional and experienced family law lawyer who can guide you through the complexities of the process.

How our Gold Coast Property Settlement Lawyers Can Help You Today

If you're going through a divorce or separation, property settlement can be a stressful and confusing process. At Frigo James Legal, we understand that property settlements can often be emotionally draining, which is why our team is committed to guiding you through every step of the way.

We can help you:

• Determine what property needs to be included in the settlement;
• Value all of the assets and liabilities;
• Assess what contributions each party has made to the relationship and how these should be taken into account;
• Consider future needs of both parties, having regard to matters such as earning capacities, health and welfare needs, and the care of children;
• Represent your best interests and maximise your entitlements.
  

Our team at Frigo James Legal is experienced in handling all aspects of property settlement matters.

We understand that every situation is unique, which is why we take the time to get to know our clients and their specific circumstances. We're here to support you and ensure that your rights are protected throughout the property settlement process.

Free Initial 60 Minute Family Law Consultation

No two family law cases are the same, so at Frigo James Legal, we can provide you with a free initial 60 minute consultation during which we can assess the circumstances of your case and provide you with a clear strategy to move forward.

Consult With Our Property Settlement Lawyers Gold Coast

At Frigo James Legal we understand that your commitments often mean you cannot attend appointments between 9 to 5 Monday to Friday. So we can offer our clients consultations outside of normal business hours and on weekends.

To take advantage of our free initial consultation or to arrange for an appointment outside of usual business hours or on a weekend, fill out the Contact Form on this page or telephone our office on 07 5621 3799.

Ronald Frigo - Partner

Ronald Frigo graduated in law with honours. In 1998 he was admitted as a barrister of the Supreme Court of Queensland.

Andrew James - Partner

Andrew completed his law degree at Bond University, where he was awarded First Class Honours.

Nicole Maia - Solicitor

Nicole is a litigation lawyer with professional experience in Australia and Brazil.