What is property?

Your property can be divided up by mutual agreement or through court action.

The Family Law Act and the courts use a very broad definition for 'property'. It can include not only obvious assets like your family home, car and furniture, but also shares, interests in a business, redundancy payments, long service leave entitlements, inheritances and assets owned before your marriage.

It does not matter in whose name the asset is registered or whether the asset is owned by one or the other party, or through a company or trust.

Superannuation is also dealt with as property and can be 'split' as part of the assets of a separating couple.

If your spouse has an interest in an accumulated super fund, you may have a new interest created for you.

The provisions of the Act are complex. It is important to protect your rights and our lawyers can assist in this process.

Contact one of our lawyers today for further information.

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