If your relationship has ended or is about to end, at some point, you and your former partner will need to divide your property.
Property settlement may be required after a divorce or after separation if you’re in a de facto couple.
Property refers to all assets, liabilities, and financial and non-financial resources that you and your former partner hold, either jointly or in your own names, or assets that are held on your behalf.
Financial resources include any financial support that you receive from another source, for example, Centrelink payments. Non-financial contributions are also included, for example, one parent giving up full-time work to look after children.