Goulburn Property Settlements: Why 'Future Needs' Just Became More Important

The Knock-On Effect

While the recent family law overhaul was centred on parenting matters, its most significant financial impact for separating couples in Goulburn will be felt during property settlement. The new legislation changes how care arrangements are decided, which in turn reshapes how a court assesses the "future needs" of each partner.​

Explaining 'Future Needs' in Family Law

The concept of "future needs" is a critical step in the four-step process courts use to divide a couple's assets. After assessing the total property pool and each person's contributions, the court makes an adjustment based on a range of future-focused factors. These include age, health, and income-earning capacity, but a primary consideration is the responsibility for the ongoing care of children.​

To see how this fits into the broader picture of Goulburn property law, read the full analysis here.

From Equal Time to Primary Care

Under the old system, the presumption of equal shared responsibility often resulted in care being split close to 50/50. This meant both parents had a similar need to house the children, leading to a more balanced "future needs" adjustment. The new laws, which focus only on the child's best interests, may result in one parent having the children for the majority of the time. Consequently, this primary carer will be assessed as having far greater future needs, as they require a stable and suitable home to raise the children.​

The Practical Impact on Finances

For a separating couple in Goulburn, this change is profound. The parent who is determined to be the primary carer may now be entitled to a significantly larger percentage of the asset pool to accommodate their greater housing and living expenses. This moves the process further away from any assumption of a 50/50 split and places more weight on the practical realities of raising children post-separation.​

For a clear, step-by-step guide to property settlements, click here.

Conclusion

Understanding the "future needs" component of family law has always been important, but under these new reforms, it has become the critical factor linking parenting arrangements to the final property settlement. For anyone in Goulburn navigating a separation, grasping this concept is essential for a fair outcome.

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