What is a 70 30 split divorce Australia?
A divorce is an emotionally challenging situation for
people. And when there is a property settlement involved, then it is further
tough. The division of assets has to be fair and there should not be any kind
of injustice with any party. To handle the case, there is a need for one of the
expert divorce lawyers in Adelaide.
The division of assets is done in many ratios, but a significant approach is the 70/30 divorce settlement in Australia.
When you are in need of guidance about the 70/30 divorce settlements in Australia, and you need the details for the legal framework, key factors, and settlement options of this subject.
Let’s understand about that.
What is the 70/30 divorce settlement?
The 70/30 divorce settlement in Australia means a potential division of assets between divorcing couples. In that, one party receives 70% of the assets and the other party receives 30% of it.
You should understand the fact that the 70/30 split is not a strict rule or standard, but it is a reference point. If your lawyer in Adelaide recommends that, then it can be considered by the court while determining a fair and equitable property division.
Many people often wonder that if one party gets 70% of the financial assets and the other party only gets 30% in a divorce settlement, then how can it be called a fair division?
Not all couples get a 50/50 split of their assets and property when they separate.
When the court decides on the division of assets, it is determined by various factors.
They are financial contributions, non-financial contributions, and future needs. It is to ensure a just and equitable outcome.
Therefore, the court rarely approves a 70-30 split. It is because it significantly disadvantages one party.
How common is a 70/30 divorce settlement?
Thus, statistically a 70/30 divorce settlement, where one party receives 70% of the assets and the other party gets 30% of it, is relatively uncommon.
Especially, divorce lawyers in Adelaide Australia do not recommend 70-30 division where the relationship is long-term.
In cases where both parties were deemed equal, but one party needs a higher adjustment for future needs, a 70-30 split is recommended. Some examples are caring for children, having a lower earning capacity, etc.
You should note that a 70/30 split is more likely to happen in situations where the ex-partners come to an agreement. It is not possible where extreme circumstances or power imbalances are the causes of divorce.
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