Step One of The Four Step Process (Ep 12‪)‬ The Divorce Collective

Step One of The Four-Step
Process

If you are going through a separation or divorce, you will no doubt have
questions around how to divide your property. 

In Australia, we have what is called the four-step process, the first step is
about working out what property there is to divide between the
parties. 




The starting point of any property settlement process is to
assess what the property pool actually is in order to decide what the
distribution to each party will be.

It is not until we know the true value of the property pool that we can
consider any of the other three steps in the four-step process. More
importantly, if the true property pool isn't known, it is impossible to assess
if an outcome is just and equitable.


 


Often in a property settlement, the true values can be
unknown and if that is the case, it is a good idea to seek advice from a family
lawyer and get full and frank disclosure from the other side. 


 


Listen to the podcast as Caralee breaks down exactly what
each topic means for you:


 


1. The property pool is ALL assets, ALL interests and ALL
liabilities held by the parties;


 


2. It doesn't matter how the property got there, and it
doesn't matter where the property is located;


 


3. Disclosure might be needed to verify things such as
superannuation etc; and


 


4. Independent valuations may be needed.


 


We hope you find this podcast and the series helpful.

Remember, you've got this!

To discuss this in relevance to your Family Law matter, Hit the link to book your first free initial consultation with Collective Family Law Group.  https://lawtap.com/au/law-firms/collective-family-law-group