In Australian family law, divorce settlements often involve complex negotiations, particularly when it comes to dividing property and assets. One common term that arises in these discussions is the "70/30 split." But what does this mean, and how can it affect your divorce outcome? This blog explores the concept of a 70/30 split in divorce settlements in Australia, with a focus on how it pertains to property division, the factors influencing such a division, and the role of legal support in ensuring a fair settlement.
What is a 70/30 Split?
A 70/30 split in divorce settlements refers to the division of assets where one party receives 70% of the total property pool, while the other party receives 30%. This type of division is not arbitrary; it results from careful consideration of various factors by the Family Court of Australia. The court's aim is to reach a fair and equitable distribution of assets, taking into account the unique circumstances of each case.
Factors Influencing the 70/30 Split
Several factors can influence the court's decision to award a 70/30 split, including:
Financial Contributions: The court considers both direct and indirect financial contributions made by each party during the marriage. This includes income, property acquired before and during the marriage, and any inheritances or gifts.
Non-Financial Contributions: Contributions such as homemaking and caring for children are also taken into account. The court recognises the value of these roles in supporting the family's wellbeing.
Future Needs: The court evaluates the future needs of both parties, including their age, health, earning capacity, and the care of any children. If one party is deemed to have greater future needs, they may be awarded a larger portion of the assets.
Length of the Marriage: The duration of the marriage can impact the division of assets. Longer marriages may result in a more equal distribution, whereas shorter marriages might see a more significant disparity.
Standard of Living: The court aims to ensure that both parties can maintain a reasonable standard of living post-divorce.
How New South Lawyers Can Help
Navigating the complexities of a 70/30 split in divorce settlements can be challenging, especially for men who may face traditional gender biases in custody and financial decisions. At New South Lawyers, we provide personalised legal support tailored to men's unique needs in family law cases.
Our expertise in family law means we're equipped to protect your rights and interests. We offer comprehensive assistance in areas including:
Divorce Proceedings: Guiding you through the legal process, ensuring all necessary documents are filed correctly and on time.
Child Custody Disputes: Advocating for fair custody arrangements that prioritise the best interests of your children.
Property Settlements: Negotiating and mediating to achieve a fair division of assets, whether through a 70/30 split or other arrangements.
Parenting Arrangements: Helping you establish practical and supportive parenting plans that work for your family's unique situation.
When you choose New South Lawyers, you'll experience our proactive and strategic approach, focused on understanding your unique situation with clarity and empathy. Our team is committed to advocating fiercely for your rights throughout the legal process, ensuring you feel informed and empowered every step of the way.
Divorce is a challenging and emotional journey, but you don't have to navigate it alone. With New South Lawyers by your side, you can rest assured that your rights and interests are protected. Our deep understanding of family law, combined with our dedication to providing tailored support for men, makes us the ideal choice for your legal needs.
Contact us today to schedule a consultation and start your journey towards a secure and positive future. Let's navigate this journey together.
