You can do a Family Law property settlement any time after separation.
If there is no chance of reconciliation, then you should do your property settlement sooner rather than later as property values for items in your sole names and joint names are included in a property pool as at the date of finalising and formalising your agreement – some are of the belief that the values are as at the date of separation – this is not the case.
- If you are married – after your Divorce is finalised (one month and one day after your Divorce hearing) you have 12 months to make an Application for a property settlement with the Court, either by proceedings or Consent
- If you are de facto – you have up to 2 years to make an Application for a property settlement with the Court, either by proceedings or Consent
There are 2 ways to formalise your property settlement:
1. The “Nice” Way – you and your spouse/partner AGREE (by consent) and execute paperwork
- Consent Orders from the Family Court – documentation can be drafted and filed at the Court, which is perused by a Registrar (like a solicitor who works for the Court) and if deemed just and equitable is sealed by the Court, as enforceable Orders. Consent Orders do not require mandatory Independent Legal Advice, though highly recommended, and the parties can otherwise sign off such paperwork with a Justice of the Peace.
What we do – take instructions, give legal advice, negotiate with your spouse/partner or their lawyer, draft the Application and the Consent Orders, execute the documentation with you, file to Court and obtain final Orders.
- Financial Agreement – a lawyer-drafted Contract requiring Independent Legal Advice, and as such is not registered anywhere, nor filed at Court.
What we do – take instructions, give legal advice, negotiate with your spouse/partner or their lawyer, draft the Financial Agreement (approx. 20 pages), execute the document with you, complete the required Solicitor’s Certificate regarding Independent Legal Advice.
Note: There is no other form of documentation recognised under the Family Law Act, eg. you cannot do a Family Law property settlement with a Statutory Declaration.
2. The “Nasty” Way – you and your spouse/partner DISAGREE and go to Court –
this is a very stressful option, but one which you may have to take if you and your spouse/partner cannot come to an agreement as to the division of property. This should be your last resort.
What we do – take instructions, give sensible and cost effective legal advice, draft the Application and accompanying documents, execute the documentation with you, file to Court, serve on your spouse/partner, attend the Court hearing/s, negotiate with your spouse/partner or their lawyer, bat for you, your best interests and for what is “just and equitable” and obtain final Orders. We walk with you through the dark journey and bring you to the other side, ready to move on into the rest of your life.
Contact us today to discuss your property settlement.
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