If you have a history of dealing with family law matters, or are involved in one at the moment, you may have heard of Section 75 factors of the Family Law Act. What do these mean, and what are they factors for? Section 75 is a section of the FLA that looks into the adjustment of property settlement based on the contributions of each party. By adjustment, we mean whether there are any special circumstances that require adjustment to the property settlement amount. They are usually based on each parties’ future needs.
Contributions made to the asset pool can be both financial and non-financial – the latter being harder to measure and evaluate. S75 also considers factors that can “soften” the effect of looking at a property settlement.
Some of the matters that are taken into account for the parties under the Section 75 of the Family Law Act are the following:
- Age and health and how these affect the ability of the parties to work or receive income. Is one party unable to work, or do they have increased medical expenses because of their health?
- Income, property, finances and ability to earn an income.
- Whether they are caring for a child under 18.
- Commitments relating to support of themselves, a dependent or other person.
- Eligibility for a pension, allowance or benefit.
- The extent to which payment of maintenance could enabling further education and therefore increase their earning capacity.
Others include a variety of issues, such as financial circumstances of any current cohabitation of either party, where the parties have separated or divorced, and generally any fact or circumstance that the court feels needs to be taken info account for reasons of justice.
What Does It Mean for You?
Of course, what you are concerned with is how exactly you are affected by the Section 75 of the Family Law Act. Generally, your contribution to the relationship is a common factor that might affect your property settlement, as well as whether there are children involved in the relationship. But there is no “one size fits all” approach – your circumstances are unique, and thus many things will depend on the situation you are in. The court may look into all of the factors listed above, or some of them.
If you are involved in property settlement and would use an advice from an experienced professional, get in touch with us at Withstand Lawyers. We can explain in what way your current and past circumstances fit into the law, and also advise on the outcome you might expect if your matter went to court.
Call Withstand Lawyers today at 1800 644 541, email us at email@example.com or send an online inquiry so we can schedule a meeting with one of our lawyers as soon as possible. As a special welcome to our new clients, we offer first consultation free of charge.