Going through divorce is already hard enough but there is also the difficult task of dividing the assets and properties accumulated during the marriage. This process which is known as the division of assets plays an important role in ensuring that a fair settlement has been achieved. These are circumstances which require the guidance of expert family lawyers on the Gold coast.
Family lawyer in Gold Coast can help ensure fairness and equitability during the division of assets
It is important that the division of assets is done in a way that both the spouses are able to receive a fair and equitable share of their marital assets. The first process is to assess the value of all the assets along with the liabilities which has been acquired during the marriage and then dividing them of in a way, which will take into account number of factors such as the duration of the marriage and the contribution made by each of the spouses and the future needs and the financial circumstances of both the parties will be evaluated as well. The lawyer should believe in advocating the best interest of the clients and ensuring that a just division is achieved.
It needs to be kept in mind that the division of assets can be a difficult process especially when the couple has accumulated a significant amount of wealth or they might own asset such as businesses and investments together. There are family lawyers who specialise in asset division and they have the expertise to navigate all the legal complexities which might be involved during the process. They will be able to identify the value of the assets and also hidden ones providing valuable insight into tax application and the legal applications during the division.
Often it is better to go with the method of negotiation and mediation. This means that both the parties can reach an amicable settlement. The family lawyers will make use of the negotiation skills and help facilitate a constructive dialogue between both the parties. They will be acting as a mediator and will find a common ground to reach an agreement. This kind of approach can minimise the emotional drain and also reduce the likelihood of a difficult litigation process.
When you hire a Gold Coast family law expert, their main role is to protect your legal interest. They have a deep understanding of the family law and they will make sure that the division of assets is done in accordance with the relevant legislation and legal precedents. It is also important to consider the future needs of the family especially during the division of assets. There could be factors for example the presence of dependent children, the earning capacities and the financial circumstances of both spouses will play an important role in determining the settlement. Your family lawyer would you watching closely with you to identify the future needs and ensure that the division is addressed in an adequate manner.