The court follows the same four-step process used in divorce property settlements:
Identify and value all assets and liabilities.
This includes homes, cars, businesses, investments, superannuation, and debts, regardless of whose name they’re in.
Assess contributions.
Both financial (income, savings, property) and non-financial contributions (home maintenance, parenting, or supporting the other’s career) are considered.
Consider future needs.
The court looks at factors like income, health, care of children, and future earning capacity to ensure a fair outcome.
Ensure the result is just and equitable.
The final division must be fair based on each party’s circumstances and contributions.