Division of Property in Geelong
Trapski Family Law helps separating couples understand asset distribution, clarify financial obligations and secure lawful outcomes. We know family law, so submit an enquiry today to arrange confidential legal guidance.
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Clarity in Property Division
At Trapski Family Law, we provide legal support for dividing property and financial resources after separation. This process involves identifying and valuing assets, assessing contributions from both parties and considering future financial needs.
By working within family law requirements, we help ensure that property settlements are fair and transparent. We are accredited by the Law Institute of Victoria and have a strong focus on providing structured guidance, particularly where property division intersects with children’s arrangements or ongoing financial obligations.
Since 2011, we have supported clients by helping them understand the steps involved in division of property. To discuss your circumstances and arrange a confidential consultation, please call us on (03) 8001 7070.
Accredited by the Law Institute of Victoria
Structured & transparent processes
Assets, Debts & Settlements
The division of property involves more than just splitting assets. Family law considers both assets and liabilities, including homes, investment properties, savings, superannuation, businesses and debts. Each settlement is assessed on factors such as financial and non-financial contributions, earning capacity and the future needs of each party. Property settlements may be formalised by consent orders or financial agreements, which provide certainty and enforceability. Legal advice can help ensure that all relevant factors are addressed and that agreements comply with the Family Law Act.
Understanding the principles that guide property division allows individuals to approach settlements with clarity. Call us today or use the enquiry form to request a confidential discussion about your situation.
FAQs
How is property divided in a divorce or separation?
Property is divided according to principles in the Family Law Act, not automatically by a 50/50 split. The court considers the financial and non-financial contributions of each party, future needs (such as age, health and income capacity), and what is fair and equitable in the circumstances. Assets may include homes, vehicles, savings, superannuation and business interests. Liabilities such as mortgages and loans are also considered.
What assets and debts are included in a property settlement?
All assets and liabilities are usually considered, regardless of whose name they are in. This includes real estate, vehicles, bank accounts, investments, superannuation, businesses and household contents. Debts such as mortgages, credit cards and personal loans are also taken into account. The law looks at the combined asset pool before determining how it should be divided. Even property acquired before or after the relationship may be considered, depending on its significance and connection to the relationship.
Do property settlements have to go to court?
Not always. Many property settlements are resolved through negotiation or mediation. Once an agreement is reached, it can be formalised by applying for consent orders through the court or by drafting a binding financial agreement. Both options provide legal enforceability without requiring a full court hearing. If agreement cannot be reached, then court proceedings may be necessary, and the court will decide how property should be divided based on relevant legal principles.
How long do I have to settle property after separation?
Time limits apply to property settlement applications. For married couples, applications must be made within 12 months of a divorce becoming final. For de facto couples, the timeframe is two years from the date of separation. Extensions are possible in limited circumstances but require court approval. Seeking advice early can help ensure that deadlines are met and that options for resolving property matters remain open.
