In Perth, WA, family lawyers perth law firms provide as representatives and mediators, give divorcing couples guidance, especially if involving a family business. In Western Australia, the principle of “fair and equitable” in the division of marital assets applies to all, regardless of whether the divorcing couple were legally married or in a de facto relationship.
However, more often than not, the business of a divorcing couple needs protection, which is one of the reasons why The Family Law Act 1975, urges separating couples to make genuine efforts to not directly take the litigation route. When it comes to resolving property disputes, particularly those involving business assets, mediation and arbitration are critical steps to take. That way, they can protect a business from the causes of financial complexities and constraints.
Importance of Getting Prompt Legal Guidance
To avoid complicated divorce proceedings, it is necessary for all parties involved to act with care by selecting the best legal guidance possible. Historically, divorce proceedings had tended to escalate quite quickly.
Such cases have made it important to get prompt legal advice from family lawyers with strong expertise in matters involving business assets and finance. The benefit of ensuring there is expertise in client representation is that the lawyers belong to law firms that maintain high reputation for having the ability to amicably and efficiently resolve financial disputes arising from asset distributions.
About the Family Law Act of Western Australia
The Family Law Act (FLA) 1975 came into effect in 1976 and was established in recognition of the need to simplify divorce procedures, reduce costs and eliminate fault. The FLA 1975 was introduced to implement reforms in the former fault-based divorce procedures, which many had criticised as one that undermined the marriage institution.
The Family Act of 1975 gave a single reason for divorce: There is no prospect for reconciliation because both spouses are no longer willing to cohabit with each other, signifying “irretrievable breakdown of marriage.” The FLA 1975 requires a separating couple to demonstrate this by living separately from each other for 12 months.
The FLA 1975 reforms also have provisions for distribution of assets, including family businesses as well as the maintenance and custody of children.
In 1997, other amendments were introduced to the Family Law Act 1975. The new 1997 amendments include the acknowledgment of breakdowns in defacto relationships; recognised the superannuation of interests between the divorcing parties and allowed the hearing of bankruptcy issues of de facto couples in WA’s Family Court
Since the amendment aimed to facilitate the speedy resolution of divorce proceedings, the Federal and Circuit Courts were instructed to transfer the divorce cases they were hearing, to the Family Court of Western Australia.