When dealing with property settlements in Family Law, the Court
essentially adopts a four step process to determine the
The total value of all assets and liabilities
The financial and non financial contributions of both
Whether any adjustments should be made to either party for
their future needs
Whether that result is fair and equitable
The common misconception about the value of furniture and
household contents is that the value used in property proceedings
is the amount the items have been insured for. Unfortunately for
most, furniture and household contents are taken at their second
hand value. The exception to this is where the household content is
considered to be an antique or one of special value. To date,
I'm yet to see the value of furniture and household contents
exceed a value of $20,000.
The Court is also very reluctant to be involved in how furniture
and household items are to be divided. If you can't reach an
agreement, the Court will often adopt a "two list"
approach where one party will draft the two lists dividing the
items and the other will choose one of the lists.
The Court may intervene for particular items where it is clear
that they belong to one of the parties (as a gift or inheritance)
but in nearly all cases the parties themselves need to agree.
In the worst case scenario, if there can't be an agreement,
involves the Court ordering that all items be sold and the proceeds
It is rare that property law proceedings run as smoothly and
easily as one would hope however, having up-to-date and accurate
valuations of the net asset pool and attempting to negotiate a fair
division will likely help you to achieve a more efficient and
smooth property settlement.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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Sect.117 can deal with false statements and knowingly making false allegations of violence could justify a costs order.
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