There are five things you should know right away to help you cut through the complexity and discover a cooperative, constructive path forward.
Most people going through a separation or divorce are going through it for the first time, so it’s understandable if you don’t know the basics. When we talk to people about amicable separation and divorce, though, we’re constantly surprised at how much misinformation and uncertainty they have. Let’s cut to the chase and get to the five most crucial things to know about the Family Law Act for anyone seeking to split and divorce amicably.
1. Children have rights, and parents have obligations.
When it comes to children, parents have no rights. Children have rights and parents have duties in the eyes of the law. This means that no parent, regardless of how much child support they pay, has a right to equal time with their child. Instead, parents can agree to spend equal time with their children, or a court can require it if it is in the child’s best interests and is feasible.
Start with what’s best for the kids and work your way backward. Then, to ensure that you’re both on the same page, formalize your agreements as a parenting plan or parental orders.
2. The pool of shared property to be split includes super (as well as almost everything else)
Regardless of who’s name, they’re in or whether you obtained them before or after the separation, all assets and obligations should be included in the joint property pool. Superannuation, stock and trust interests, and even assets and obligations shared with a third party are all examples of this. This does not imply that everything found will be shared, but it all adds to the pool’s value. Things you owe, such as credit cards and loans, must also be included to get a complete picture.
Before you can decide how to divide your property pool, you must first agree on a complete picture of it. You can use the following free template to assist you: Property Pool (Excel) Template OR Property Pool (Excel) Template (PDF). Those that use Adieu Assist agree on their property pool utilizing our clever property tool.
3. Property shouldn’t always be split 50/50.
Many divorcing spouses believe that they should maintain everything that is already in their names and then split anything they own jointly 50/50. While this may be appropriate in some circumstances, the family law statute lays out very explicit guidelines for dividing property based on contributions and needs.
When deciding how to divide your assets and liabilities, take into account your current and future demands. The court will consider your ages, health, ability to earn now and in the future, and obligations for caring for children as the most common necessities. When comparing these elements, if one of you is worse off than the other, an adjustment to the division should be made to help balance things out.
Contributions might be monetary, but they can also include things like child care, being a stay-at-home mom, or renovating a home. In general, the longer you’ve been together, the less important your contributions become.
Ensure that you divide your assets and responsibilities in accordance with the divorce lawyer surrey bc, otherwise, your ex-partner may be able to reconsider this at a later date. Getting appropriate legal counsel is essential, and individuals who use Adieu Assist benefit from the advice of three lawyers as well as real-time input from our intelligent property tool to reach a consensual agreement that is compliant with family law.
4. Divorce and financial settlement are two very distinct things.
Getting a divorce document and legally finalizing your finances are two different processes. Consent orders or a binding financial agreement are required to legally finalize your money, whereas an application for divorce is required to formally dissolve the marriage. You only have 12 months after your divorce to make a financial settlement, which is surprising for many people, so you’re better off completing it before you file for divorce.
Make your financial arrangements as soon as possible. To seek a divorce, you must have been separated for at least 12 months, but you can do a financial settlement as soon as you’ve separated. Consent orders can be made easier with the help of the family court DIY kit. Those that use Adieu Assist will have their agreement written up by a lawyer and filed with the court as consent orders.
5. Whether you’re de facto or married makes no difference.
All of this is true for de facto couples as well. When it comes to your children and sharing your assets and responsibilities, the legislation surrounding separation and divorce is pretty much the same. Although there may be minor variances in how things are formalized, de facto couples must go through the same basic process as married couples, with the same outcomes.