Asset Division Inquiry Post-Separation
The individual seeks information on how divorce proceedings are conducted in Victoria, particularly concerning asset division following a separation of over 5 years. The individual and their spouse have adult children and no religious factors influencing the case. The individual is worried about an unequal distribution of assets, as their spouse has considerably more assets and is resistant to discussing the division. The individual feels affected by their spouse's controlling behavior, leading to feelings of inferiority.
Questions about this case
These answers have been verified by a lawyer in the LEAP networkHow does the Family Court in Victoria approach asset division when one party has significantly more assets than the other?
In Victoria, the Family Court applies a four-step process for asset division. Initially, they identify and value the entire property pool, including all assets and liabilities. Then, they assess each party's contributions, whether financial or non-financial. The third step involves considering the future needs of both parties. Finally, the Court seeks to ensure the division is fair and equitable, especially when one party holds significantly more assets. Adjustments may be made to reflect this disparity, ensuring a just outcome.
What steps can I take if my spouse refuses to discuss asset division?
Should your spouse refuse to engage in discussions about asset division, you may file an application for property settlement in the Family Court. This legally obligates your spouse to respond. It's advisable to consider mediation as a first step, which can be a less formal approach to encourage cooperation. If unsuccessful, the court can step in and make a determination based on the contributions and needs of both parties.
How does being separated for over 5 years affect the divorce and asset division process?
A separation period exceeding 5 years is relevant under Australian law. Clients can apply for divorce after a minimum separation of 12 months. The length of separation may influence the court's stance on asset division, particularly regarding contributions and the future needs of each party. It's important to gather proof of contributions made during this time, which may support a case for a fairer split.
What strategies can I employ to ensure a fair division of assets despite lack of communication from my spouse?
To foster a fair asset division in the absence of communication from your spouse, consider mediation through a family dispute resolution practitioner. If that proves ineffective, you may seek a property settlement order from the Family Court. Thorough documentation of assets and liabilities as well as your spouse's financial situation will be crucial. Legal guidance may assist you in navigating this complex process.
Can I obtain my fair share of assets?
The Family Court in Victoria evaluates numerous factors to guarantee a fair asset division. Relevant considerations include the duration of the marriage, each party's contributions, and their future needs. Given the significant disparity in assets, the court is likely to assess contributions and future requirements to ensure a just distribution, especially in light of your limited assets compared to your spouse.
