We can assist with formally finalising your property settlement by Consent Orders, Binding Financial Agreements or Court Orders.
During the commencement of negotiations of a property settlement the financial disclosure must be obtained and provided to the other party in relation to all assets, liabilities of the property pool and financial resources of the parties. The contributions of the parties at the commencement and during the de facto relationship or marriage are also considered. These include financial and non-financial contributions such as staying at home to care for the children, and home maker duties.
The parties’ future needs must also be considered when determining a final property settlement, such as the earning capacity of the parties, health issues which may impact on future employment and retraining or further education if one party has not been in paid employment for some time. There are some instances when spousal maintenance should be granted to a party to ensure they can re-establish and financially support themselves in the future.
If the property settlement is to be finalised by Consent Orders then these are sent to the Family Court for the Registrar to consider or Court Orders (if no agreement can be reached and an Application is made to the Federal Court and Family Court of Australia) to ensure the property settlement is a fair division of the property pool which is referred to as “just and equitable”. This is why you should seek legal advice and not compare your situation to other family members or friends that have been through a separation, as each property settlement is unique.
If the division of the property pool is not “just and equitable” then the final property settlement must be finalised by a binding financial agreement and both parties must have independent legal advice.
A property settlement must be finalised within twelve (12) months of a divorce being granted or within two (2) years of the conclusion of a de facto relationship.
We offer alternate fixed fees for clients seeking transparency with their legal costs. We also offer hourly rates and can assist eligible clients with Legal Aid grants.