Property in the family law context refers to all the assets and liabilities of the relationship. It also includes superannuation. It does not matter whether an asset or liability is in a party’s sole name or joint names or even held with another person they all form part of the asset pool.

Some examples of assets include real property (such as the family home or investment property); cash and bank accounts; vehicles (cars, boats, trailers and caravans); investments (such as shares); business and trust interests; insurance policies; superannuation and other valuables (such as jewellery and heirloom pieces).

Some examples of liabilities include mortgages, personal loans, credit card, store cards and other personal debts.