Matrimonial Property – What All Couples Need To Know About Separating
Separation by a couple in a relationship is something that is highly charged emotionally. People threaten, insist on, and demand all sorts of things regarding splitting the matrimonial property. However, in New Zealand, the division of relationship property is clearly defined by law, and need not be an option for discussion or negotiation. Having said that, since one party often tries to assert their power or domination over the other, it is highly advisable to talk to a North Shore matrimonial property lawyer to advise you, protect your interests, and ensure that you get a fair and equitable outcome.
Separation and divorce are the last resort for couples and this applies to a married man and woman, same-sex partners and de-facto live-in partners. In certain places, the same laws will apply to any category of relationship. The laws have been intended to give both sides a fair and equal outcome in what is generally a very difficult situation.
Of course, there are some people who feel frustrated by the laws as they feel they should have more rights. This will generally be in relation to financial assets, but the law is equal in all cases and will help both sides move forward without feeling that they were taken advantage of. Of course, there are also some people who feel that things should be divided in a certain manner, but this is an issue they will have to resolve with themselves.
Preparing For Separation
If you are considering separation, the most important thing that you need to do is talk to a North Shore matrimonial property lawyer who provides family law services. A lot of people will turn to their friends and family for support. While this is good for emotional support, it can also cause problems that you will want to avoid.
The primary problem is that other people will have their own ideas about what you can claim in the divorce. Some of your friends and family might suggest that you take as much as you can or that you have to get one asset like the house. Many of these comments are made to help you feel better, but they are often wrong and will be bad advice.
In certain areas, like New Zealand, the total value of assets and property from the relationship will be equally split between the two parties. There is also no system for maintenance payments which in other countries is generally made to the wife. There is a system for child support payments and the amount is set out by the IRD with all payments being handled by the tax department as a direct deduction from wages.
Who Has Access To Children?
Another area that is laid out in the law is access to children. One parent will be granted custodial care, but both parents will still be guardians of the children. The rules are very clear and you will be able to get more information from the New Zealand Justice Department.
The basics are that children will live with their custodial parent. However, the other parent will have the right to contact or access to their children. The amount of time and when this happens will be negotiated by the couple and will generally be done in the presence of lawyers.
The Transferring Of Matrimonial Assets
Once the assets from the relationship have been assessed and the total value is agreed on, a transfer will need to be made to the respective partner. The main asset that most couples have is their home, but some couples will have businesses, rental properties, and savings accounts.
In these situations, the title for each of them will need to be assigned to the other partner formally. This will generally require you to go through a separate legal process. There are some assets that can easily be transferred while others will be much harder. A house can be transferred to the other person, but a new mortgage deed will have to be prepared.
If You Need Help From A North Shore Matrimonial Property Lawyer
There are numerous lawyers on The North Shore and each has their own merits. Since a divorce or separation is such a highly emotional time, it is a good idea to interview more than one North Shore matrimonial property lawyer to find one that you feel comfortable with. You will be bearing your soul and sharing some deep emotions so this is important.