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Family Law - Property Settlement Proceedings

Date: November 08, 2011

Authors: Angelita Manlangit LL.B.

What should I do before commencing Court proceedings?

The parties to the marriage are under a legal obligation, under the Family Law Rules, to try and resolve and differences between them by way of an alternative dispute resolution (ADR). ADRs may include negotiation, family counseling, conciliation or arbitration.

In the event that ADR is unsuccessful, try writing to the other party, setting out your claim and perhaps making proposals for settlement.

Do I have to disclose all my assets and liabilities?

The parties to the marriage are under a legal obligation to give full and frank disclosure of all financial matters to each other that may be relevant. Failure to comply with this legal obligation will make you susceptible to costs penalties.

How will the Court decide what orders to make?

When obtaining Court orders in respect of property settlement proceedings, a Court takes into account a number of important factors: 

  • The financial contribution of the parties;
  • The non-financial contribution of the parties;
  • The contribution to the welfare of the family, for example contribution made as a homemaker or parent;
  • The age and state of health of the parties;
  • The income, property and financial resources of the parties and the physical and mental capacity of them to obtain employment;
  • Whether either party has the care or control of a child of the marriage who is under the age of 18 years;
  • Commitments of each of the parties to support himself or herself and a child or another person that the party has a duty to maintain;
  • The responsibility of either party to support any other person;
  • The eligibility of either party for a pension, allowance or benefit and the rate of such pension, allowance or benefit.
  • Where the parties have separated or divorced, a reasonable standard of living;
  • A party’s contribution to the income, earning capacity, property and financial resources of the other party;
  • The duration of the marriage and the extent to which it has affected a party’s earning capacity;
  • The need to protect a party who wishes to continue his or her role as a parent;
  • If either party is cohabitating with another person, the financial circumstances relating to that cohabitation;
  • The effect of any proposed order on the earning capacity of a party;
  • Any child support that a party has paid, is paying, or may be liable to pay in the future in respect of a child of the marriage;
  • The terms of any financial agreement that is binding on the parties; and
  • Other factors that the court may consider relevant.

The Court can only provide what is entitled for both parties. There is no formula in deciding what a reasonable settlement is for both parties. However, LAC Family Lawyers can assist you in determining what the likely outcome will be in the proceedings. In order to do make such determination and assist you in acquiring a just and equitable outcome, you must ensure that you make a full and frank disclosure of your financial statement.

  

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