First off, what even is ‘divorce’?
The definition of divorce support in Australia is simply the termination of a marriage. It’s called a “divorce order” these days. It used to be called a divorce certificate.
“The only impact of the divorce is it allows you to remarry,” Michael Tiyce, principle lawyer specialising in family law in Sydney, says.
He explains that if a marriage ends in separation, a legal divorce is not needed to begin a de facto relationship with other people. Some people separate and don’t bother getting divorced. As long as you don’t want to marry again, that’s not generally a legal problem. However, if you never get around to divorcing, get in another relationship and then die, that can be “a quagmire of complications.
Because you’ve got two different parties as partners who have made contributions to your property … and there are cases where that’s happened,” he says.
Regardless of the legalities, people may want to get a divorce order as a symbolic end to a marriage.
In Australia, you can actually apply for a divorce order online, as we have a “no fault” divorce system, meaning you don’t need to prove anyone has caused the relationship to end, you just need to show it’s not working anymore which is demonstrated by being separated for 12 months (more on that later).
Can I get an annulment?
Annulment is a term mostly used in America, meaning a marriage is declared null and void.In Australia, a decree of nullity can sometimes be granted to declare a marriage is void, but it is very rarely used.
The reasons a marriage can be declared void include:
1. One or both parties were already married
2. It’s a prohibited relationship (such as siblings marrying, for example)
3. The legal requirements were not met at the time of the marriage (for example, the celebrant wasn’t qualified)
4. If one or both people is under 17 and doesn’t have special court approval, or someone is not able to provide informed consent
5. If either party was forced into the marriage
Some people might seek an annulment from their church for the spiritual side of marriage, but they will still have to go through a divorce for the legal aspects in Australia.
Divorce, an unexpected milestone: in the person’s life, has a huge impact on the finances of those involved. “In mutual divorce, the husband and wife settle the financial separation aspects on the terms that are acceptable to both. The method and details of the settlement are in their own hands. A divorce settlement can be include any or no asset and money. In the court, the partners have to reaffirm the agreement.
Dividing Assets
Once you have listed the assets and the liabilities along with their current worth , it is time to divide them. Though the law has the provisions for husband’s rights over the wife’s property if he is unable to maintain himself, in India the husband is considered as the default breadwinner.
“One needs to see if the spouse is financially independent. If both are working, the husband might did not have to pay for the wife’s routine expenses. If the wife is not working, the husband might have to support her by paying a fixed sum periodically or making a one-time payment. While dividing the assets, you must have to take into account the role played by each spouse. This is because one of you might be taking care of all the expenses while the other was contributing to the savings kitty.
If the wife is not employed or does not earn enough to support self, she is entitled to alimony. This is true even when she earns but her income is not enough to support the same living standard as that of her husband.
Child Care
Things become more complicated when the couple has children. For, in such a case, the priority of the settlement is to protect their interests. Irrespective of who gets the custody of the children, both would ideally want to arrange for their welfare. Spouses can agree to a lump sum payment or a staggered payment to the person who will get the custody of the child, either at different stages of his/her educational life or a monthly amount with incremental increase to factor in the rising cost of living. To secure the children’s future, the investments can be made in their name, and any/both parents can be the guardian. These will be transferred to the children after they attain adulthood.
Documentation
After arriving at an understanding on how to share assets, liabilities and parental responsibilities, put everything in black and white. You will have to inform the court about the settlement while applying for the divorce.
You will have to prepare the separation agreement, which will serve as the framework for the divorce settlement. It should tackle all the important issues related to separation such as alimony, child custody and splitting of assets and debts. Ensure that it is drafted and worded in such a manner that it gives both partners fair and equal rights,” says Gupta of Fullerton Securities and Wealth Advisors.
In case you decide to share the any liability or asset in the future, the agreement should mention it in detail, preferably with remedies in case one partner does not honour the agreement.Before arriving at the agreement on the financial aspects of separation, you must start the groundwork by updating the records of all financial assets. Retain the bills of assets held in your name. Keep photocopies of bills of assets held jointly if you do not have the originals.
neplar 