Asset and liability review
Identify property, superannuation, debts and financial interests held individually, jointly or through companies, businesses and trusts.
Separating finances can involve much more than deciding what happens to the family home. O’Dea Lawyers assists married and de facto clients with property settlements involving real estate, savings, debts, superannuation, businesses, trusts, investments and other financial interests.
Whether you are ready to formalise an agreement or concerned about disclosure, valuations, urgent asset risks or a contested settlement, our Adelaide property settlement lawyers can help you understand the financial picture and choose a practical path forward.
The right work depends on what is owned, what is owed, whether reliable values are available and whether both parties are giving full financial information. We tailor the scope to the real issues rather than treating every settlement as the same.
Identify property, superannuation, debts and financial interests held individually, jointly or through companies, businesses and trusts.
Request and organise financial disclosure, identify missing information and obtain appropriate valuations where figures cannot be agreed.
Prepare a realistic settlement position and work toward resolution through direct negotiation, lawyer-assisted discussions or dispute resolution.
Document an agreed division in proposed court orders and address the information required for the Court to assess whether the outcome is just and equitable.
Obtain fund information, address valuation and procedural requirements, and prepare appropriate superannuation splitting terms where needed.
Advise where disclosure is incomplete, assets may be sold or transferred, liabilities are growing or court orders may be required.
There is no single percentage or calculator that determines every settlement. The Family Law Act requires the financial circumstances and history of each relationship to be considered before an outcome can be assessed.
Establish the parties’ assets, liabilities, superannuation and financial resources, usually at current values rather than simply using figures from the date of separation.
Consider direct and indirect financial contributions, non-financial work, homemaking, care of children, gifts, inheritances and other relevant contributions.
Examine matters such as age, health, income, resources, earning capacity, care and housing of children, and the economic effect of family violence where relevant.
Test the proposed division as a whole. The outcome must be fair according to the law in the parties’ particular circumstances.
Property held in one person’s name is not automatically excluded. The task is to identify the parties’ legal and equitable interests, liabilities, superannuation and relevant financial resources before assessing how they should be dealt with.
The family home, investment properties, land and interests in property in Australia or overseas.
Bank accounts, shares, managed funds, cryptocurrency, term deposits and other investments or savings.
Accumulation, defined-benefit and self-managed super interests, subject to the valuation and splitting rules that apply to the fund.
Companies, partnerships, sole-trader businesses, trusts, retained earnings, loans and associated financial interests.
Mortgages, personal and business loans, credit cards, tax liabilities, guarantees and other obligations requiring investigation.
Vehicles, valuable personal items, compensation interests, inheritances or gifts, and other resources whose treatment depends on the facts.
Reaching agreement is often preferable where it is safe and the financial information is reliable. The next question is how the arrangement should be documented so that ownership, transfers, liabilities and future claims are properly addressed.
The parties apply to the Court for orders reflecting their agreement. The Court considers the proposed result and must be satisfied that the property orders are just and equitable.
A financial agreement can be made before, during or after a marriage or de facto relationship. Strict statutory requirements apply.
Each party has an ongoing duty to give full and frank disclosure of information relevant to the financial matter. This applies whether the parties are negotiating, seeking consent orders or involved in contested proceedings.
Depending on the circumstances, disclosure may include:
Non-disclosure can delay resolution, increase costs and lead to serious procedural or substantive consequences. If information is missing, we can advise on targeted requests and the next available step.
Some settlements require more than a balance sheet and a percentage discussion. Early advice can help preserve information, prevent avoidable financial damage and identify whether urgent orders or specialist evidence should be considered.
Control, ownership, loan accounts, distributions, retained earnings and the true value of an operating business may all need expert investigation.
A superannuation split does not turn the interest into immediate cash. The amount remains subject to superannuation law and the fund’s payment rules.
Urgent advice may be needed if property may be sold, transferred, mortgaged, depleted or moved beyond reach, or if essential liabilities are not being paid.
The economic effect of family violence may be relevant to contributions and current or future circumstances. Safety and disclosure processes may also need adjustment.
Foreign assets, tax consequences, enforcement and competing jurisdictions can require coordinated advice before an Australian settlement is documented.
Family-law orders cannot provide for shared or joint ownership of a companion animal. The Court considers a specific statutory list of factors when ownership is disputed.
Many property matters are resolved without a final hearing. Productive negotiation usually requires a sufficiently complete asset pool, sensible valuations and a clear understanding of the legal considerations.
You can seek advice and resolve property issues soon after separation. Married couples do not have to wait until they are divorced, and property settlement does not happen automatically when a divorce is granted.
The Court’s permission is required to start proceedings out of time and is not automatically granted. Obtain advice before the limitation period expires.
Each matter is different, but a disciplined sequence helps avoid negotiations based on incomplete information or an outcome that cannot be implemented.
Discuss the relationship, separation, immediate financial pressures, safety issues, assets, debts, children and the outcome you are trying to achieve.
Collect disclosure, prepare an asset and liability schedule, identify missing material and determine which values can be agreed.
Consider contributions, current and future circumstances, family-violence effects where relevant and the overall just-and-equitable requirement.
Identify priorities, realistic settlement options, urgent protections and the most proportionate negotiation or procedural pathway.
Exchange proposals, attend mediation or take formal steps where disclosure, urgency or disagreement prevents a negotiated outcome.
Prepare consent orders or another appropriate instrument, then address transfers, payments, refinancing, sale and superannuation implementation.
You do not need every document before arranging an appointment. Bring what you have and we can identify the priority gaps.
Legal fees depend on the size and complexity of the financial pool, the quality of disclosure, whether valuations or experts are required, the level of cooperation and how the settlement is formalised.
A well-documented agreement can often be completed more efficiently than a matter involving disputed facts, missing disclosure or court proceedings. No responsible estimate can be given until the issues and proposed scope are understood.
We will explain the recommended next stage and its likely scope before substantive work begins. If a matter changes—for example, a valuation dispute develops or urgent orders become necessary—the strategy and estimate may need to be updated.
Property settlement is separate from divorce, parenting and child support, but decisions in one area can have practical consequences in another. These pages explain the related services and specialist topics.
Understand the formal divorce process, separation evidence, de facto breakdowns and the deadlines that can follow divorce.
Divorce lawyers AdelaideAdvice about parenting plans, consent orders, disputed arrangements, relocation, urgent applications and changing existing orders.
Parenting arrangements lawyersAdvice about financial agreements before, during or after a marriage or de facto relationship and the independent-advice requirements.
Prenups and BFAsUnderstand assessments, private child-support agreements, changes of assessment, arrears and related family-law considerations.
Child support lawyersSee how O’Dea Lawyers’ property, divorce, parenting, child support and related family-law services fit together.
Explore family law servicesTell us what is owned, what is disputed and what needs attention now so we can help identify the next practical step.
Request a consultationNo. There is no automatic equal-division rule or fixed formula. The outcome depends on the identified property and debts, the parties’ contributions, current and future circumstances and whether the overall result is just and equitable.
No. Divorce and property settlement are separate processes. Married couples can resolve property matters or seek property orders before a divorce is filed or finalised.
The financial picture can include real estate, bank accounts, investments, vehicles, personal property, businesses, companies, trusts, superannuation, mortgages, loans, tax liabilities and other interests or obligations. The treatment of each item depends on the evidence and circumstances.
Sole legal ownership does not automatically remove an asset from consideration. Ownership, control, value, contributions and the legal nature of the interest all need to be examined as part of the overall settlement.
Superannuation is treated as a special type of property and may be adjusted by a splitting order or agreement. A split does not usually make the amount immediately available as cash; it remains subject to superannuation law and the receiving person’s preservation conditions.
Both parties have a duty to provide full and frank disclosure relevant to the financial matter. Targeted requests, third-party information, expert analysis or court directions may be considered when information is incomplete or disputed.
Common formal pathways are consent orders approved by the Court or a financial agreement that complies with the Family Law Act. The appropriate option depends on the terms, circumstances and advice received by each party.
Not necessarily. An informal written agreement or practical division may not finally resolve future family-law property claims or provide suitable enforcement and transfer mechanisms. Obtain advice before relying on it as a final settlement.
Yes. Many matters resolve through negotiation, mediation or other dispute resolution. A court application may still be used to obtain consent orders, while contested proceedings may be necessary if agreement, disclosure or urgent protection cannot be achieved.
For married couples, an application for property adjustment generally must be filed within 12 months after the divorce becomes final. Permission is required to proceed out of time and is not guaranteed.
An application for de facto property adjustment generally must be filed within two years after the relationship breaks down. Eligibility for de facto property orders and the separation date can themselves require careful assessment.
Business, company and trust interests may be relevant even where ownership and control are complicated. Proper disclosure and specialist valuation may be needed to understand the interest and its place in the settlement.
The economic effect of family violence may be relevant when assessing contributions and the parties’ current and future circumstances. Financial or economic abuse can also affect disclosure, access to funds, negotiation and the safety of the process.
Companion animals are dealt with under specific family-law property provisions. The Court considers a statutory list of factors but cannot make orders for shared or joint ownership. Parties can still negotiate an appropriate arrangement and obtain advice about formal terms.
Obtain urgent legal advice. Depending on the evidence, practical safeguards, undertakings, notices or urgent court orders may need to be considered. Do not delay if there is a real risk that property will be depleted or moved.
Leaving the home does not by itself surrender a person’s family-law property claim. However, moving can affect safety, access, mortgage payments, children’s arrangements and the practical management of the property, so obtain advice before making assumptions about the consequences.
This page provides general information only and is not legal advice. Property-settlement outcomes, available orders, limitation periods and procedural requirements depend on the facts of each matter. Court forms, fees and processes may change. Obtain advice about your circumstances before acting, signing an agreement or allowing a limitation period to expire.
Tell us what is owned, what is owed, what information is missing and what needs attention now. O’Dea Lawyers can help you understand the legal framework and choose a practical next step.
Take advantage of our free, no-obligation first consultation with Mr Damien O'Dea and his legal team. The fastest way to secure your appointment is by filling out the form below. Submit your details now and we’ll prioritise your enquiry with a prompt response—your matter deserves immediate expert attention.