After a marriage or de facto separation, the Family Law Court will divide your property and assets and determine your spousal maintenance requirements by applying the certain laws contained in either the Federal Family Law Act 1975 or the Western Australian Family Court Act 1997. Exceptions apply if you have a Binding Financial Agreement (also known as a “Pre-nuptial Agreement”). The same laws apply to de facto (including same-sex relationships) and married spouses, except for the division of superannuation. Whilst common properties are identified as houses and financial assets, they can also include but are not limited to businesses, trust funds, investments, superannuations and pension entitlements. It also includes any outstanding debts or liabilities. An important and often overlooked factor is … Continue reading OLD – Property, Assets and Liabilities