A common misconception is that assets are split down the middle. In reality, property settlement depends on various factors, and not every contribution is financial.
The court considers:
- What you own and owe (assets and debts)
- Financial contributions – income, savings, investments
- Non-financial contributions – homemaking, parenting, renovations
- Future needs – age, health, earning capacity, care of children
- Whether the split is just and equitable
This process is separate from your divorce and must be finalised within 12 months of your divorce becoming final.
