How to do Average Split Assets During Divorce: Ultimate Guide

June 24, 2024    divorcelawyersperthwa
How to do Average Split Assets During Divorce: Ultimate Guide

Divorce is considered an unhappy ending to a married relationship; however – situations exist where it has saved the life and mental health of either of the spouses. However, the entire process can be complicated and require the help of experienced lawyers especially when splitting assets in divorce.

The process is tough, and only the top lawyers can help clients navigate the complex waters of property settlement. Check out this blog, as we have explained how assets are typically split in a divorce and how to make the process go smoothly.

The definition of divorce according to family law

The Family Law Act of 1975 introduced important changes to Australian Law and introduced the concept of “no-fault divorce”. The new concept directed that the court didn’t have to hear the reasons for the marriage breaking down; rather, the relationship has been strained continuously for at least 12 months, and no chance of reconciliation exists.
The new approach relieved the divorce–seeking couples from a continued unhappy and unhealthy marriage and get free without fault or guilt. It focuses on starting anew and promoting healing.

Another aspect of the ‘divorce test’ recognizes the right of all individuals to determine their future. Once trust and love have eroded in a relationship, and one spouse has initiated the divorce proceedings – it indicates that they are not interested in continuing the marriage. The court will not interfere as long as the parting is established.

The aspects linked with separation

According to the Family Law Act, separation is important to get a divorce. However, defining parting will become subjective and complex when the relief is unstable. The regulation considers circumstances where couples separate and then reconcile for three months or less and let this separation time be combined into a single period.

For instance, let us imagine that the couple separates for ten months, reunites for three months, and then again parts for two months – the total separation time will be calculated as fifteen months and will satisfy the twelve-month requirement. But, it is always better to consult with the best divorce lawyers in Perth and file for divorce.

Fundamentals of asset division upon divorce

The Australian legal scene provides two possible ways to divide assets between you and your former partner:
The most favored way for all is to determine the asset division terms within the spouses. Then formalise it with a Binding Financial Agreement or a Consent Order.

If you or your spouse don’t agree on the demands or don’t reach a resolution after extended meetings – the court can mandate specific financial orders. The verdict will take spousal maintenance and property division into account.

What is a consent order?

A consent order is a legal directive that defines the agreement between two spouses seeking a divorce, including how their possessions will be divided. The order is officially binding and entered into voluntarily by both parties. The order has to be approved by the court, but it can also be executed separately for a single party if they refuse to accept the other party’s proposed terms.

The family court offers an online tool to help you file consent orders. Additionally, it also offers free legal advice from a lawyer or an FDR (family dispute resolution practitioner). The agreement won’t be held valid if you or your spouse seek further financial orders outside of the consent order.

What is a binding financial agreement?

The Binding Financial Agreement (BFA) is available at the end or in between marriages. These legal documents specify the assets to be divided among two spouses. Typically, the Australian court wouldn’t overrule these conditions without a special incident. It would be best if you opted for an experienced legal team to make a financial agreement with your soon-to-be-ex spouse.


Average split assets can be a tricky situation for couples if they don’t know how to navigate the entire issue. Much to the surprise of couples, the court considers both joint assets accumulated throughout the relationship, the individually acquired ones as well as liabilities during the asset division for two spouses.

The laws regarding this matter will differ between the states of Australia. Still, aspects like family homes, superannuation, financial contributions, personal possessions, other real estate, and many more will come under the court’s consideration. Get in touch with experienced Divorce separation lawyers in Perth if you want a smooth settlement.

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