The information contained herein is not intended to be a complete statement of the law on any subject and should not be used as a substitute for legal advice in specific fact situations.
The Third Step in a Property Settlement
The third step relevant to property settlement is an examination of future considerations. The Court has a very wide discretion in making adjustments to reflect these considerations. Factors often include:
• The age and state of health of you and your former partner;
• Income, property and financial resources of yourself and your former partner;
• Your physical and mental capacity for future appropriate employment;
• Whether either of you have the care and control of any children of the relationship, who are yet to attain the age of eighteen (18) years;
• The commitments that each of you deem necessary in order to support yourself, a child, or another person you have a duty to maintain;
• The responsibilities of either of you to support any other person;
• The eligibility of either of you for a pension allowance or benefit under a Commonwealth or State law or superannuation scheme;
• The standard of living and whether, in all the circumstances, this living standard is reasonable;
• The duration of the marriage and the extent to which it has effected the earning capacity of either yourself or your former partner;
• The need to protect the party who wishes to continue their role as parent;
• Circumstances of any cohabitation at the present time;
• Any child support that a party of the marriage has provided or will provide; and/ or
• Any other facts or circumstances which the justice of the case demands the parties bring into consideration.