Property and Financial Settlement
Adult child maintenance
Adult child maintenance is payments made by a parent for a child who is over the age of 18 years and who is in continuing tertiary education or has a disability. Adult child maintenance is payments in addition to child support and is available in only some circumstances.
Our Family Lawyers at Clancy & Triado can advise you of your possible obligation to pay adult child maintenance and discuss what is relevant to such a claim.
If you are seeking adult child maintenance, we can assess the eligibility of the adult child to receive adult child maintenance; guide you through the process of applying for adult child maintenance; and have the obligation secured in Court Orders.
If you or your de facto or married spouse is bankrupt or about to become bankrupt, Clancy & Triado can represent you against the claim of the trustee in bankruptcy to assets of your relationship.
Clancy & Triado is experienced in representing trustees in bankruptcy in Family Law matters.
Child support is payments for your children, and is usually applicable until the child(ren) turn 18 years of age, or complete their secondary school education.
Clancy & Triado can assess your obligation to pay or your entitlement to receive periodic and non-periodic child support for children of your de facto relationship or marriage.
Periodic child support is regular cash payments, which can be calculated using a formula based on your and your partner’s specific financial and care arrangements, or as agreed between you both. Non-periodic child support is payments such as private school fees, private health insurance, extra curricular activity expenses, and any other expense associated with the child.
You and your partner can agree to the amount of both sorts of child support and have that agreement set out in a Binding or Limited Child Support Agreement. Clancy & Triado’s Family Lawyers can prepare these Agreements, advise you of the best options for you and assist you with determining how much (if any) role the Child Support Agency in your arrangements.
Clancy & Triado’s Family Lawyers can advise and assist you to request a change of periodic child support assessment produced by the Child Support Agency; appeal a decision of the Registrar of the Child Support Agency; and if need be, appeal the decision of the Registrar to the Social Security Appeals Tribunal. We can also enforce the collection of child support and advise you about international child support entitlements and obligations - when one parent is overseas.
De facto & domestic partnership property settlement
De facto partners (legally known as domestic partners) include partners of the opposite and same sex. It is most important to urgently get advice about issues arising from domestic partnerships, as the date of separation determines whether or not you have a claim to a property settlement and to what sort of property settlement you are entitled.
Most recently, domestic partners who separated after 1 March, 2009 have their property entitlements determined by the Family Law Act 1975 (Cth). Domestic partners who come under the Family Law Act are eligible for spousal maintenance and superannuation splitting, as do married couples.
Domestic partners who separated between 1 December 2008 and 1 March, 2009 have their entitlement to a property settlement determined by the Relationships Act 2008 (Vic). For those domestic partners who separated before 1 December 2008, their property settlements are determined by the Property Law Act 1958 (Vic).
Each Act results in a different legal entitlement. Clancy & Triado Family Lawyers can advise you of your likely legal entitlement and how to achieve your best possible outcome.
Property injunctions & asset protection
Clancy & Triado Lawyers takes urgent action to secure your legal entitlement to the assets of your de facto relationship or marriage.
Clancy & Triado Lawyers takes urgent action to secure your legal entitlement to the assets of your de facto relationship or marriage.
We issue urgent Applications for injunctions at Court to prevent the sale of assets and we lodge urgent caveats on property settlement. This ensures that your rightful entitlement to a property settlement is preserved for an orderly negotiation or if need be, litigation.
Pre-nuptial & other financial agreements
Pre-nuptial agreements (financial agreements) having been legally binding since 27 December, 2000. These agreements are private contracts between you and your partner, which do not need to first be approved by the Court.
Agreements can be entered into before marriage, or before living together as domestic partners, during, or after domestic partnerships/marriage, and can sort out in advance, what would occur if you were to separate in the future. The agreements can sort out the division of property and include spousal maintenance payments (if any). There is great flexibility in pre-nuptial agreements, as you can agree on the terms yourselves.
The most common situations appropriate for pre-nuptial agreements are: people entering into second marriages and wish to preserve their assets for their children; couples who have a big discrepancy of incomes; and people who may be likely to receive a large inheritance in the future.
Each person part of the financial agreement needs to first receive independent legal advice about the agreement. The Family Law experts at Clancy & Triado Lawyers can advise you about appropriate terms to be included in your financial agreement and make sure you are aware of all possibilities and outcomes.
Property settlement
Clancy & Triado Lawyers can advise you of your entitlement to the division of the assets of your relationship and all matters regarding property settlement.
We can advise you whether your property settlement will be determined under State or Federal law and assess your circumstances to give you a likely range of entitlement to a property settlement.
The assets and liabilities of the relationship need to be determined and valued and can be then divided. Assets and financial resources to be divided can include for example: the family home, investment properties, shares and share options, businesses, trusts, vehicles, antiques, self managed and other superannuation funds, pension entitlements, insurance policies, inheritances, gifts, lottery winnings, chattels, potentially long service leave and compensation payouts etc. Liabilities that need to be assessed include mortgages, personal loans, and credit card debts.
Property settlements can be finalized in many ways, including financial agreements and consent orders approved by the Courts. We can advise you of possible tax implications and the most efficient method of formalizing any settlement reached.
Your right to obtain a property settlement is affected by a divorce and/or the date of separation, so we recommend you obtain expert advice from Clancy & Triado Lawyers about your specific circumstances.
Spousal maintenance is commonly known as ‘alimony’. They are payments made by one partner to a former marriage or de facto partner to assist with their reasonable living expenses. Spousal maintenance payments can include regular payments of cash, or in kind payments such as rent or mortgage repayments. In some circumstances spousal maintenance is paid in a lump sum as part of a property settlement
Clancy & Triado Lawyers can advise you of your possible entitlement to or obligations to pay spousal maintenance. The right to apply for spousal maintenance is affected by the date of separation in de facto relationships, and is affected by the date of Divorce in marriages. We strongly recommend you obtain legal advice before separation and before applying for a divorce.
Superannuation interests can be split between former spouses to a marriage or de facto relationship. Clancy & Triado Lawyers can assist you to determine whether the interest is an accumulation fund; a defined benefit fund; or a self managed superannuation fund and at what stage the fund is – whether it is in the accumulation or payment phase.
Depending on the sort of superannuation fund it is, we can obtain professional advice to value the fund under Family Law valuation regulations, and seek advice for you as to the best possible receipt of your share, taking into account timing, taxation, Centrelink, and age eligibility issues and whether it is best for you to receive a lump sum or pension payments.
Sole occupation of the home
Sole occupation of the home can be a relevant issue after separation, when a couple has remained living under the one roof after separation has occurred. Clancy & Triado Lawyers can advise you of the possibility of one person moving out of the home and leaving the other person to live in the home.
For lawyers with vast experience in Family Law, property settlement, divorce, pre nuptial agreements, child custody and all associated issues, you are welcome to contact Clancy & Triado.