Financial Settlement After Separation

For most couples, financial settlement after separation is one of the most stressful and challenging parts of a divorce. When trying to get a financial settlement after your separation, you may not know what you're entitled to? 

While we don't have an exact answer to this question, the court will consider different factors to determine what you are entitled to. That's why you need to have a family attorney by your side. Our Melbourne family attorney at Rigoli Lawyers has put together some of the frequently asked questions about separation financial settlements.

 What is a financial settlement after separation?

After separation, a financial settlement is a legal agreement that sets how you and your ex-spouse will split your assets when you divorce. A financial settlement can include:

  • Debt
  • Property
  • Pensions
  • Child maintenance 
  • Investments and savings
  • Spousal maintenance 

What is the difference between separation and divorce?

Separation means that you and your spouse are still officially married but no longer live together. You can file for financial settlement when you are separated without filing for divorce if entitled.

When should I begin financial separation from my spouse?

The sooner you start a peaceful separation from your partner, the easier your divorce process. You should be able to achieve a financial settlement with your spouse within the same timeframe as the divorce proceedings. While keeping one joint account to pay marital bills will be helpful, it's best to get separate bank accounts. During separation, do not remove your spouse's name, sell any properties, transfer any monies, or change insurance without your spouse's knowledge.

Could your separation reasons affect the outcome of your financial settlement?

After separation, the guiding principle of any financial settlement should be fair and prioritize your children's needs. If you are divorcing because of your partner's extreme behavior, or if one of you is trying to undermine the financial settlement with reckless spending or destroying the family assets, the court may consider this. Contact our Melbourne family lawyers if you think your partner's behavior meets these criteria.

What are the things I am entitled to in a financial settlement after separation?

Every marriage and separation is different, and there are no specific rules about dividing assets in separation. Contact our experienced Melbourne family lawyers if you want to know what you might be entitled to. We'll look at your financial circumstances, give you an unbiased view, and tell you how the court will view your situation.

Is business assets part of a financial settlement?

Business assets can be part of a financial settlement. The court may consider family business as a source of revenue for the family rather than an asset. So even if one of you had no contribution to the business or did not help build it, they can still be entitled to some of its value.

Ready to talk about your separation in Melbourne with a family lawyer and get answers to your questions? Contact Rigoli Lawyers today at 03-8742-3199 to schedule an initial confidential consultation.

 

 

 

 

 

 

 

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