Navigating the financial complexities of divorce can be daunting, bringing with it many emotional and financial challenges, particularly when dividing assets and liabilities.
In this Real Money column by The Sydney Morning Herald, BN Family Law Principal, Genevieve Morgan, examines the intricacies of property settlements, emphasising that they aren’t always a 50/50 split. Factors like contributions, age, health, childcare responsibilities, and earning capacity all influence the outcome. Superannuation is also treated as an asset, subject to division by court order or agreement, though access remains governed by superannuation laws. Genevieve stresses the importance of full financial disclosure and seeking legal advice to ensure fair and efficient resolutions.
The article also explores the rights of de facto couples and the growing use of prenuptial agreements to safeguard assets and inheritances.
To read the full article and gain further insights into navigating separation, click here.