Property Settlements / Financial Settlements are some of the most important aspects of the separation process.
It is an opportunity for both parties to set themselves up for the future in a fair manner. While for some it’s easier to agree on what’s fair, for others it can be much harder.
We believe that reaching an amicable settlement gives parties and families the best opportunity to establish their new lives well. We therefore work hard to achieve this so that you can avoid the uncertainty, stress, costs and hostility of court. However, where an amicable settlement is not possible, we will robustly advance your interests in court.
Our expert family lawyers are experienced in dividing even the most complex of asset structures. We are equipped to help you secure your entitlements, whether by documenting the agreement you’ve already reached, negotiating an agreement with your ex or upholding your entitlements in court.
Frequently Asked Questions
If we already agree about how we will divide our assets, do we need to have a formal property settlement?
Even if you have reached agreement, our strong recommendation is almost always to formalise it via a settlement document. If a formal settlement document is not entered into, then both you and your ex leave yourself open to a property/asset claim against the other in the future.
How long do we have to sort out our property settlement after separation?
There are different time limits depending, for example, whether you are married or in a de facto relationship. In any case, it’s important to finalise your property settlement sooner rather than later. The longer it is left unresolved, the more complex and messy it will be, with more assets or debts being accumulated, further contributions being made and new partners coming into the picture.
When doing a property settlement, do we take the assets and debts and their values at separation or at the present time?
Generally speaking your property settlement is based on your assets and debts as they stand currently, not at separation. There are, however, other considerations when calculating a fair property split, such as post-separation contributions made by each party.
