Kathryn has been putting some money aside to help her daughter buy a home.

"My daughter is in a relationship and they are considering buying a house in future, and will use the money I put aside for part of her home deposit," she told the ABC.

She says she doesn't have doubts about her daughter's partner or dislike him, but does wonder what would happen if they were to break up in future.

"It is a lot of money to save up over time that could be lost if my daughter's relationship were to not work out in future," Kathryn said.

"Would they divide their assets? [Would it] be possible to have that amount I put in for the home deposit be kept with her in such an eventuality, or [would] it be divided with her partner in that case?"

"I'd like to ensure that in any possible circumstance in future that she would still have that nest egg to rely on."

We are interested in your feedback on this story — please click here to complete a short survey.

As part of the ABC's personal finance project, you asked us to look at how de facto relationship splits can impact finances. This is what we uncovered about super, property, gifts, and inheritance.

Are you in a de facto relationship?

You can look to divide you property by reaching an agreement without court involvement. ( Unsplash: Kristina Litvjak, CC0 )

The definition for de facto relationships is the same across all Australian states and territories, and it applies to same sex and opposite sex couples.

If you've been living with your partner for two years or more, you're considered to be in a de facto relationship.

In legal situations, it can also depend on financial dependency, how long you've been in a romantic relationship, and whether you've registered your relationship in an Australian state or territory.

And that can have implications for you — and your finances — once you're separated, especially if you own a house together.

Other factors the court looks at: If you've been married

If you've been married The type of relationship you have with your partner

The type of relationship you have with your partner Whether you own a property together

Whether you own a property together Whether you have kids together

Whether you have kids together Public aspects of your relationship (reputation)

What happens when you split?

The Family Court doesn't discriminate anymore in relation to married or de facto couples (same sex or heterosexual).

So you have three options when you split: you can try to find an agreement without involving the courts, use an agreement formalised by the court (known as an application for consent orders), or apply to the court for orders.

The definition for de facto relationships is the same across all states and territories across Australia. ( Unsplash: Kelly Sikkema )

In terms of the types of things that are looked at in the split, they can include the property you own together or separately, superannuation, as well as potentially spousal maintenance.

Other type of assets that can be divided include:

Money

Money Investments

Investments Insurance policies

Insurance policies Inheritances

Inheritances Shares

Shares Any other assets, such as cars, furniture or jewellery

Any other assets, such as cars, furniture or jewellery Debts, such as mortgages, loans, credit cards and personal debts

These will be considered when settling no matter whose name is on the documents, who bought it, or who is in debt.

But family and relationship lawyer at Landers & Rogers Stephanie Doyle says every matter is "slightly different".

"I can't give you an exact figure on every matter because … every matter has its own nuances," she told the ABC.

How exactly can it impact my financial situation?

On the issue of property, Ms Doyle says there is "no blanket rule" when it comes to dividing up assets. ( Unsplash: Ahmed Carter )

Well, it could mean that you need to divide up your property and superannuation.

What to know about sharing money If you share a joint loan, you're not necessarily only liable for half the debt. You might be liable for the whole amount if your partner defaults (even if you've broken up)

If you share a joint loan, you're not necessarily only liable for half the debt. You might be liable for the whole amount if your partner defaults (even if you've broken up) The person with the name on the utility service or gas bills is liable

The person with the name on the utility service or gas bills is liable If you're guaranteeing a loan for your partner, you could be asked to repay it

If you're guaranteeing a loan for your partner, you could be asked to repay it Double check anything before you sign it and seek legal advice Source: ASIC MoneySmart

On the issue of property, Ms Doyle says there is "no blanket rule" when it comes to dividing up assets.

She says what usually happens is the assets are added up and then there is a process to work out how it is divided.

Her advice is usually for couples to resolve issues of furniture and other small property between themselves rather than getting caught up in a protracted legal battle.

"I generally ask people, what are the things that are most important to you and then focus on securing those one or two items," she said.

"But, you know, it doesn't commercially make sense to have letters passing between lawyers in order for you to keep your DVD collection."

How does super splitting work?

Senior policy adviser at Women's Legal Service Victoria (WLSV) Tania Clarke, says in a lot of cases superannuation can be a main concern, especially for women who have stayed at home to look after the kids.

In fact, a 2018 report by WLSV found that for 21 per cent of matters in the small claims, large battles project — which was established to investigate and document the experience of vulnerable women seeking family law property settlements — superannuation was one of the only significant assets (if not the only asset) in the property pool.

"Generally speaking, the court looks at what the contributions of each party have been," Ms Clarke said.

"One thing that some people don't really seem to fully understand is that the court will look at both financial and non-financial contributions. The court will also look at future needs.

"Non-financial contributions includes being at home looking after children and contributing to the house in that way, even though this work is often considered unpaid work."

Part of a property settlement can include the divvying up of superannuation entitlements. ( Pexels: Bruce Mars )

Ms Doyle says under superannuation-splitting laws, part of a property settlement can include the divvying up of superannuation entitlements depending on the length of the relationship.

"Typically in a long relationship there will be an equalisation of super contributions," Ms Doyle said.

"That means that we add together everyone's superannuation and [sometimes] we just divide it in half so if one person's got slightly more super than the other, they will receive an adjustment [to] their superannuation from the other party's superannuation."

But Ms Clarke says there is no clear-cut rule for superannuation division and again it is treated on a case-by-case basis.

She also says it can be difficult in some situations to find out what super is available, particularly in circumstances of economic abuse.

"Often that involves the perpetrator having total control of the finances and the victim has no idea what super is there or anything else really," she said.

In those situations, previously you had to apply to the super fund for the information. It is legally complex and nearly always requires the engagement of a lawyer.

A further cost is the fees charged by the superannuation fund to access super information — often there are multiple super funds, so these fees add up.

Ms Clarke says the Government is now working on a Women's Legal Service recommendation that courts should be allowed to directly access super information via the ATO.

What are your other superannuation options?

In cases where it's a shorter relationship, Ms Doyle says each party might decide to keep their superannuation in their own name (so opt not to split super) if they both continue to work during the relationship.

Ms Doyle also says some people might also opt to forgo a super split, in exchange for a greater share of other assets such as property.

"One party might end up wanting to retain the former matrimonial home or a property for their children to live in, or might have greater upfront needs if you will, and generally forgo a superannuation split or a division of the superannuation for a greater share of those real assets," she said.

What about inheritances and 'gifts'?

Going back to Kathryn's question for a minute, inheritances and gifts can be a tricky area in the event of a split.

Ms Doyle says she gets clients who come to her and they might say they've got some money, say $50,000, from their mum and dad for their house deposit.

She says working out a fair split in those circumstances is not necessarily an accounting exercise.

"Remember, you don't necessarily get the $50,000 back, that's why you need a financial agreement which sets out, for clarity, how matters or how property should be divided between you if your relationship comes to an end," she said.

"In these cases, it might not be a 50/50 split because one party wants an acknowledgement for their financial contribution [for example the $50,000] and the other party might say 'well, I've done other things you know'."

Ms Doyle says in cases where a couple has split and property is their biggest concern, there can be disagreement over who has contributed what.

For example, one party might ask for an adjustment arguing that they had to wait some time for you to invest because you were more risk-adverse.

"So it's not clear cut and emotions can also make it even more difficult," Ms Doyle said.

It can be the same for inheritances, which if they are received during the relationship, are still considered property.

Someone may be able to access their partner's inheritance if it makes up the assets they share between them.

"Also if the inheritance is received some time ago and the party then invested it into a joint property or venture, it is hard to then identify and/or quantify the value of the inheritance in the new asset, just like it is hard to unscramble an egg," she said.

What about maintenance?

You might be surprised to know that if you're the main breadwinner, you might be up for paying maintenance.

According to Ms Doyle, you could be liable to "maintain" your ex-partner if you are reasonably able to do so and the other party is unable to support themselves.

In that case, the court would look at what someone needs in terms of financial support and how much the other person can afford to pay. This circumstance arises because of:

Someone having the care and control of their child whose under the age of 18

Someone having the care and control of their child whose under the age of 18 Age, or physical or mental incapacity for appropriate gainful employment

Age, or physical or mental incapacity for appropriate gainful employment For any other adequate reason

Ms Doyle also points out that orders for maintenance can take many forms and can be a lump-sum payment or periodic.

Can you be in more than one de facto relationship?

Yup. The Family Court recognises that people can be married to one person and still be in a de facto relationship with someone else.

And according to Victoria Legal Aid, you must apply for a court order about property settlement and partner maintenance within two years of separating from your partner. Otherwise, you will not be eligible for the division of assets.

So, how can I protect myself?

Experts say there are strict requirements which must be met for a financial agreement to considered legally enforceable. ( Unsplash: Milan Popovic )

In most cases you're encouraged to make a financial agreement (similar to a prenup) about your property before, during or at the end of your relationship so that you don't have to go through court.

It can cover things like how your property is divided, ongoing financial maintenance and other issues.

But experts advise that there are strict requirements which must be met for a financial agreement to be considered legally enforceable.

According to Legal Aid Victoria, both people are required to sign it and it must also contain a statement that each person has received independent legal advice covering:

How the agreement will affect their rights

How the agreement will affect their rights Whether or not the agreement is to their advantage

And each person's lawyer must sign a document saying legal advice was given.

Once agreed upon, the agreements are legally enforceable unless in instances of fraud, practicality, changes in parental care, unethical handling, someone's failure to comply or the confiscation of property through criminal activity.

But Ms Clarke says the financial agreements can still be overturned by a court if they're found not to be "just and equitable", and in cases of economic abuse or family violence it's important to seek out independent legal advice.

This article contains general information only. It should not be relied on as finance advice. You should obtain specific, independent professional advice from a registered financial planner in relation to your particular circumstances and issues.

Are you a young woman who needs help to manage your money?

We know you have unique challenges as overall, research has shown that young women:

Earn less than men

Earn less than men Have less superannuation

Have less superannuation Are more likely to have career breaks

Are more likely to have career breaks Have lower levels of financial literacy

It's time to change things. We want to help you to become more confident about money and have the skills and information you need to shore up your financial future.

So let's do it together.

Send in your questions about money using the form below and we'll try to get our journalists to find you an answer.