Negotiating a property settlement

Gregory, a distinguished cosmetic dentist, operated a significant dental practice that expanded to five separate business locations. His reputation as one of the most well-known cosmetic dentists in Victoria and NSW added considerable value to the business, which was valued at $15 million at the time of separation. Alannah played a vital role in the dental practice by managing the books and assisting with staff management.

The parties otherwise had a home valued at $5 million, and further investments (including superannuation) valued at $2.75 million.

Upon separation, the parties attended mediation after obtaining valuations and exchanging financial disclosure. This transparent process enabled both Gregory and Alannah to understand the true value of their assets and facilitated constructive discussions about their potential property settlement.

At mediation, Gregory and Alannah were able to reach an agreement that divided the assets on a 50/50 basis.

Gregory retained the dental business, which was his priority and enabled him to continue to earn a significant income. Alannah retained the family home and received cash payments from the business over a ten-year period, ensuring her financial security and acknowledging her contributions to the business.

The property settlement between Gregory and Alannah highlights the importance of mediation and financial transparency in resolving complex asset divisions. Despite initial challenges, both parties were able to reach a fair and equitable agreement that respected their individual contributions and secured their future welfare.