This article was written by Jialin Liu Solicitor at W & G Lawyers.
After separation, one of the first things many people hear is: “Let us just split everything 50/50.”
It sounds fair. It sounds simple. And when a relationship has already left you emotionally exhausted, a half-half split can feel like the quickest way to end the argument. Some people want to avoid more conflict. Some worry about legal costs. Some simply want to settle, move out and start rebuilding their life.
But under Australian family law, property settlement after separation does not automatically start at 50/50. It is not decided simply by whose name is on the house, whose account the savings are in, or who paid the mortgage most often.
The real question is whether the proposed outcome is just and equitable in the circumstances of your relationship.
Sometimes, a 50/50 split may be appropriate. Sometimes, it only looks fair on the surface.
Before you sign any property agreement, the question is not whether other people usually split things equally. The question is whether this arrangement is fair for your family, your contributions, your children, your financial future and your legal position.
Read More