Hello, my name is Robin and I own a medium sized business which is based in a suburb of Perth, Australia. Many business owners do not understand the importance of commercial law on their operations. I know that I certainly didn't when I set out. At first, this wasn't an issue but as my business grew, I realised that if I didn't teach myself about the legal rules in place and seek expert help, I would find myself in serious trouble. I got in touch with a great law firm who helped me to understand exactly what I needed to know. I decided to start this blog to help other business owners.
-
The Benefits of Hiring a Property Law Conveyancer 19 December 2023
-
4 Vital Pet Laws You Should Know as an Australian Dog Owner 23 February 2023
-
How To Deal With Conveyancing Delays 29 July 2022
Commercial Law For Small And Medium Sized Business Owners
Three Considerations That Will Guide The Financial Settlement Of Your Divorce
Daniel Young
Divorces are tricky for everyone involved, with emotions running high and both parties life savings being examined to try and work out an equitable outcome. When you are involved in a divorce, the registrar (person who acts as the judge) will consider a lot of different mitigating factors in deciding the financial side of things. It is important to know what you are getting into when you start a legal fight, so here are three of the most important considerations that the registrar will consider, and that your family law team will likely prepare you for.
Care Of The Children
The number one priority for everyone involved in family law is that the children involved are cared for to the best of everyone's ability. If you are going to be taking primary care of the children, then you will likely receive some financial support from your partner moving forward. Depending on how many children you have, their ages and your location, you may get a different amount than others in varying situations, so don't read too much into other cases. Still, children are always the number one determining factor in the financial outlook of a divorce.
Contributions During The Marriage
When deciding what is fair, the registrar will often consider how equal and balanced the relationship was during its course. So, for example, if you made the bulk of payments on a house with your own salaried wage, then you will have a much better claim to it than your partner will. The same goes for all other major assets, such as cars, jewellery, investment properties and so on. If you can prove you were the more active and generous of the two parties in the marriage, you will pretty much be guaranteed that you have a better chance at securing the lions share of the assets when the relationship ends.
Lifestyle Going Forward
While the registrar may want to be fair to the person who was more active in their contributions during the marriage, they will not put the other one at great financial stress as a result of this. It is important that everyone involved has some access to proper healthcare, housing and basic necessities, and that no one is left totally destitute or incapable of paying the debt they owe. While that doesn't mean you will live a life of luxury due to a divorce, it will mean that the registrar acknowledges the party with less financial assets still deserves to be cared for after a legally binding relationship comes to an end.
For more information, contact a local family law service.
Share