If you are separated or separating, it is important to consider how third parties may impact your family law matter. In this blog post, we will consider how your property settlement might be impacted if you are supporting a third party.
Who are you supporting?
Commonly, parties to a property settlement may also be providing support to their dependent children, children from a previous relationship and/or elderly parents. The new partner of a party to the property settlement may also need to be supported. Generally, a third party to whom you provide support is anyone who depends on you and lives in your household.
Why does this matter?
The third parties whom you support will naturally decrease the resources available to you. Dependent third parties can impact family law matters in a number of ways. If you have dependent children, you may be entitled to child support (see our blog posts on child support). If you have other dependent persons, such as elderly parents, your future needs are enlarged which may mean an adjustment in the division of property in your favour.
If you have a family law matter, concerns about your family business or questions about family law and separation in NSW and want to find out more please do not hesitate to contact us on 9688 6023 or email us at info@franklegal.com.au.
This article is provided to the reader for general information. It is not legal advice. It was written by Andrea Spencer & Emily Graham and edited by James Frank.
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Family law, Separation, Family Law Lawyer, Financial considerations, financial impact, child support, children