It is no doubt that our furry four legged friends are often treated like members of the family. The question is how are they treated when it comes to a Property Adjustment under the Family Law Act? How do you put a price on them?
Unfortunately the Family Law Act doesn’t specifically deal with the topic of pets. In short, the answer is that unless the pet is income producing for example, a racehorse or a show animal, the pet doesn’t necessarily have a significant financial value that is attributable to it. It is classed a personal asset that is added into the mix no different to other household items such as furniture and electrical appliances.
Given the emotional attachment that both parties to the relationship and their children may have with the animal, it is important not to discredit the weight that should be given to the time sharing element of the pets.
There has been much discussion as to whether the Family Law Act should be amended to include what is in the best interests of the pet when orders are made? The USA have adopted such approaches and there has been some proposal that we should follow suit. To date no such changes have been adopted.
It is common for people to include “spending time” with animals in family law agreements. Where such agreements cannot be reached Mediation and other Alternative Disputes Resolution procedures seem to be beneficial.
If you or someone you know requires family law advice give us a call today on 02 4627 3333.
This article was published on 02/8/24 and the information is valid only to the date of publishing. This article should be considered merely general and non-specific on the subject matter and is not and should not be considered or relied on as legal, advice. Meehans Solicitors is not responsible in the event this information is relied upon by the reader in the absence of specific legal advice.