Understanding Asset by Asset Division in Australia: How Assets Are Divided After Separation or Divorce Separation or divorce is not only an emotional process. It also involves important financial decisions. One of the biggest questions couples face is how asset by asset division is done after separation or divorce. In Australia, property settlement laws focus on fairness rather than a strict formula. During this process, the idea of dividing property often becomes relevant. In simple terms, this means looking at each asset individually when deciding who keeps what. However, courts also consider the overall property pool and the contributions made by