The legal landscape has changed for de facto couples who separate and face the often difficult task of dividing up their assets.

Under new federal laws which came into effect on 1 March this year, property settlements for separating de facto couples will be in line with those for married couples.

The Family Law Courts can order division of any property that a de facto couple owns either separately or together.

The superannuation of each partner can now be split, and spouse maintenance ordered.

The Family Law Courts can make these orders if satisfied of one of the following:

• the de facto relationship is at least two years duration;
• there is a child of the de facto relationship;
• one of the partners made substantial financial or non-financial contributions to their property or as a homemaker or parent and serious injustice to that partner would result if the order was not made; or
• the de facto relationship has been registered in a state or territory with laws for the registration of relationships.

A de facto relationship is where two people – either of the opposite or same sex – are not married or related by family but live together on a “genuine domestic basis”.

The new laws apply to de facto relationships that break down on or after 1 March 2009, and applications for a property settlement must be made within two years of the relationship ending.

However, couples whose relationship has broken down before this date can choose to have the new laws apply to them if they opt in to the new legislation and each obtains independent legal advice.

De facto couples who are about to enter – or are already involved in – a de facto relationship may want to consider a binding financial agreement which outlines property distribution and maintenance if a relationship breaks down.

Binding financial agreements can only be entered into after both parties have obtained independent legal advice.

Remember, your lawyer can help you with any of these issues.