Knowing your range of entitlements
If you have experienced a relationship breakdown, there are several possible routes to settle property matters with your former partner.
Commonly, parties will negotiate directly between themselves or engage lawyers to negotiate on their behalves. Once an agreement has been reached, parties will normally engage lawyers to draft a formal document which incorporates and details the terms of the agreement reached by the parties (for more information on documenting your agreement, see binding financial agreement or consent order).
To assist with negotiations (and other alternative dispute resolution methods), it is helpful to be aware of what you might be entitled to if the matter was heard at a final trial. Knowledge really is power. Knowing what your range of entitlements might be provides a good indication of whether or not the outcome you have negotiated is fair and reasonable.
Generally, once it is determined that it is just and equitable for there to be a property adjustment, then the court will adopt the following four step process:
