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Property and financial settlements
Without going to Court
When you separate from your partner, you and you your partner can agree how your property and assets should be divided without any Court action because:
- it saves time and money
- you also know exactly what each of you will get as opposed to the uncertainty of having to wait for a Judge to decide the issues for you.
- lengthy Court proceedings can increase stress and add to the pressure that you and your family are already under
- the legal fees will also be higher if you go through the Family Court and proceed to a hearing – the earlier you can reach agreement, the lower your costs, and
- you can still have your agreement formalised, by both asking the Court to make Orders in the terms of your agreement. You do this by applying for “Consent Orders”.
We can help you with advice to ensure that you have considered all issues, without the cost of going to Court.
Going to Court
If no agreement can be reached, then an Application for property Orders is normally submitted either to the Family Court or the Federal Magistrates Court within twelve (12) months of your divorce becoming final. However, an application can be made at any time after separation and even before you are divorced.
Division of assets
Caroline can show you that there is no exact formula used to divide your assets or exactly what Orders a Judge will make but Caroline can assist you in reaching a proposed settlement that is fair and equitable to both parties.
Benefits of going to Court
If you have the Court stamp your Orders, for example if you are to transfer say the matrimonial home to your spouse there will be no stamp duty payable on that transfer.
The matter is dealt with by a third party who may remove the stress and sentimental hurt that may stop both parties from treating each other fairly and equitably.
Please contact us if you have any legal questions about property and financial settlements relating to family law.