The Courts adopt a multi-staged approach when determining the final interests of parties in their divisible pool of assets, as follows:
- Identifying and valuing all assets, liabilities and financial resources, including superannuation.
- Assessing the financial and non-financial contributions made by each party, including in the capacity of parent and homemaker.
- Assessing the future needs of each party based on their respective ages, health, care of children, income and capacity to earn, as well as various other issues.
- Assessing whether the final division is just and equitable in all the circumstances of the parties’ relationship, and altering their property interests if need be.
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