Divorce Property Division - A Guide to Equitable Distribution

Cominos Family Lawyers30 Dec, 2021Legal

There are two kinds of properties that Australian law recognizes; marital and separate property. Marital property is the income and assets a couple acquire throughout their marriage. These assets can include home, cars, businesses, furniture, investment, art, or retirement accounts (401k), and they are subject to equitable distribution. In Sydney CBD, the top family law specialist firms Sydney omits separate property from the equitable distribution process. However, if the property?s value increases during the marriage, the increase becomes a marital asset.