Financial Settlements Tag

When it comes to getting a divorce, other than deciding upon what is in the best interests of the children, the next most important matter is the financial settlement. The first thing to understand when it comes to a relationship ending, is exactly what is regarded as property. In effect, it is everything that can be designated as an asset or a debt. Assets can include property, vehicles, jewellery, investments, shares, ownership of a business, cash in the bank, insurance policies, superannuation, and inheritances. As for debts, mortgages, bank loans, credit cards, and other debts such as credit agreements for vehicles or any other household or personal purchases are included. Ideally, it is best if both parties can come to an agreement between themselves as to how all the assets and debts are to be split or allocated. This can be achieved without a lawyer, although without legal advice you could agree to something which is not actually in your best interests.
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