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If you have separated from a marriage or de facto relationship, it is important to sort out your financial arrangements, such as how property will be distributed and who will attend to mortgage and other payments.
A number of factors guide the court when deciding on the division of property. It will look at the assets and liabilities of the parties and whether they have superannuation entitlements. It will consider the history of the relationship, what people had at the outset, how long they lived together and what contributions they made along the way.
Both financial, non-financial and homemaker and parent contributions are all taken into account by the court.
Also important are whether either party received any gifts or inheritances during the relationship and what they did with these monies.
The parties’ age, health, parenting responsibilities and their future capacity to earn income will also be relevant.
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