Wrong

Correct


We will each get 50/50

There is no automatic 50/50 division of assets. There is no “standard” division. Who gets what depends on two main factors, contributions of all types and future financial circumstances.


The house is in his/her name so s/he gets it

It does not matter who owns an asset or liability. This includes superannuation and trusts. The family law can change ownership.
It's my super and you can't touch it

Super like all other assets is taken into account.  Super can be split or divided. Alternatively if agreed, each spouse can keep their super, but this is usually with a trade off with other assets.


If I leave the home I lose my rights to it.

If a spouse  leaves the home it does not affect their family law rights in that house.


I need to wait for a divorce to do a property settlement

There is no need to wait for a divorce to do a property settlement. They are largely separate issues.


He/she walked out so he/she gives up everything

The cause of the relationship breakdown, or, who left who, is not a factor that affects who gets what.

Mostly, Family Law is a no-fault system.


I earned all the money so I get more

Earning income and looking after family and home are both significant contributions.   The value or importance of a spouse caring for the home and family is normally given the same value as the money earned from employment of the other spouse. This is the case no matter how high the paid income.



I owned it before we got together so it’s mine

All assets and debts form part of what can be divided, no matter when they were obtained, before, during or after separation.

But having significantly more at the start, is a contribution that can lead to getting more of the current assets.


We only split up what we had at separation

Like assets held before the relationship, assets gained after separation can be claimed by the other spouse. Even years after separation if a binding agreement is not done.



It’s only what it is worth at separation that matters

Assets and debts are valued at the date of agreement or court hearing, which can be sometime after separation.


Values are based on what they could be sold for, not what they cost; not what it would cost to replace them and not what they are insured for.


He /she earned his/her super so I have no claim on it

Superannuation is like any other asset. It can be divided between spouses.


A handshake agreement will do

Without a legally binding agreement a claim can still be made against assets many years later. Sometimes even after a divorce.



If a family law claim is made it will include the assets that may have been bought or earned after separation.