You might think 50/50 is a fair split. Or a friend will tell you that their separation had a 70/30 separation of the asset pool. But no two separation settlements are the same because no two situations are the same. Emma Mead of Burke and Mead Lawyers advises that there is no precise formula used to divide property in a separation.

All aspects of your situation need to be taken into consideration when you negotiate your Separation Agreement.

How your split is decided

The Family Law Act 1975 sets out the general principles used in DIY Separation Agreements and by Mediators and Family Lawyers when deciding on what is fair for your situation.

You both need to consider:

• all of your assets and debts – this is your pool of assets
• direct financial contributions by each party to the relationship
• indirect financial contributions by each party such as gifts and inheritances from families
• direct or indirect non-financial contributions, such as renovating a property
• contributions of each party to the welfare of the family, such as caring for children and homemaking
• future requirements of the parties are, taking into account things like age, health, financial resources, care of children and ability to earn.

If you can’t agree and your matter escalates, a judge will use these same principals to decide for you. The decision is made after all the evidence is heard and the judicial officer decides what is just and equitable based on the unique facts of your case.

In general terms, how your assets and debts are going to be shared between you will depend on the individual circumstances of you, your partner and your family.

And for these reasons, your settlement will probably be different from others you have heard about.

The Separation Guide aims to make separation and divorce simpler, more manageable and less stressful. To find out more about how one of our Network Members could support your separation, take our free 3-minute Q&A.

Disclaimer
The information in our resources is general only. Consider getting in touch with a professional adviser if you need support with your legal, financial or wellbeing needs.

Separations are already one of life’s most stressful events, but the stakes are even higher when children are involved.

There are three main types of agreements when it comes to the care of children after separation, explains Emma Mead of Burke and Mead Lawyers:

• Parenting Plan
• Consent Order
• Parenting Order.

People will often refer to these various documents as a Custody Plan, but they are used in different circumstances and have different legal effects.

What is a Parenting Plan?

What is a Consent Order?

A Consent Order is a written agreement that is approved by a Court, based on an agreement that you have made together.

It can cover parenting arrangements for children, as well as financial arrangements such as property and maintenance.

It has the same legal effect as if it had been made by a judicial officer after a Court hearing.

What is a Parenting Order?

A Parenting Order is a Court-authorised document. That means it is legally binding.

It is usually a decision made by the Court when parents can’t decide. Courts impose this order on each party. This document is usually issued at the settlement stage.

In all circumstances, the Court must be satisfied that any orders you ask for are in the best interest of the children.

Note: any person concerned with the care, welfare and development of a child can apply for Parenting Orders.

The Separation Guide aims to make separation and divorce simpler, more manageable and less stressful. To find out more about how one of our Network Members could support your separation, take our free 3-minute Q&A.

Disclaimer
The information in our resources is general only. Consider getting in touch with a professional adviser if you need support with your legal, financial or wellbeing needs.

It’s possible to stay on good terms when you separate if your separation or divorce is amicable. The Separation Guide Q&A will help you and your partner determine some key factors around amicability.

What is an amicable separation?

An amicable separation doesn’t mean that you and your ex-partner need to remain close or even on friendly terms. It does mean that you’re both interested in an outcome that’s fair and that there’s enough goodwill and trust between you for you to be honest with each other through the process. This especially applies to full disclosure of all of the assets and liabilities to be divided.

If this sounds like you, then your separation can be simpler, less expensive and less emotionally draining.

An amicable separation takes you down a more pleasant path. There’s no need for long expensive court battles, no need to instruct lawyers to be aggressive and demanding, less cost, less angst and easier for everyone. If you feel like you can separate on good terms then the separation becomes a guided negotiation. What we call Guided Separation.

What if we’re no longer amicable?

Animosity between the parties takes you down a different road where a good faith negotiation becomes a more bitter confrontation. This tends to happen when information is not shared or when there is bitterness in the nature of the breakup.

In separating or divorcing, there is no right or wrong path, it depends on the circumstances you are in.

Sometimes there has to be a legal confrontation in order for a party to assert its legal rights – this tends to be the case where there has been a power imbalance in the relationship or where there is a lack of trust.  Some separations and divorces can become like trench warfare and this can damage both the separating couple and their family.

Other separations can be done quietly, sensibly and reasonably.  The first question is to decide which category you are in.

And so, start the Q&A now to find out the best path for you.

The Separation Guide aims to make separation and divorce simpler, more manageable and less stressful. To find out more about how one of our Network Members could support your separation, take our free 3-minute Q&A.

Disclaimer
The information in our resources is general only. Consider getting in touch with a professional adviser if you need support with your legal, financial or wellbeing needs.