Often, you do not know what you might be entitled to. What is fair and reasonable? Is superannuation included? What about the inheritance I recently received? My former partner earns more than me – is that important?

We understand your uncertainty and want to provide you with knowledge about family property law so that you appreciate your true entitlement. We can also help you negotiate a reasonable outcome.

The Law

Following separation, it is crucial that parties formalise the division of their property interests. This process is called a “property settlement”, which essentially means determining and documenting “who gets what” following separation.

The same process and considerations are applied, irrespective of whether the relationship was a:

• Marriage;

• De facto relationship; or

• Same sex relationship.

Specific time limits apply in relation to a property division and it is imperative that legal advice is obtained at an early stage to protect your interests.

Negotiating Property Arrangements

There are various ways to negotiate a property settlement including:

• The parties can discuss their property division and reach their own agreement;

• A Mediation can be arranged;

• The parties can undertake a collaborative approach;

• The parties can approach a solicitor and undertake some negotiations through that process; or

• An appropriate Application can be made to the Court.

We can assist you with all of these options.

Formalising Property Arrangements

If, upon separation, the parties only informally divide their assets and/or liabilities between themselves, without formalising and documenting that agreement, they leave themselves open to a future risk that the other person may later seek a further property settlement from them.

There are various ways that property arrangements can be formalised and be binding, including:

• Entering into Consent Orders. This gives the parties certainty but there are other benefits. For example, if the agreement involves the transfer of a real estate property or a motor vehicle, stamp duty is reduced to nil if Consent Orders are finalised and, in many circumstances, the stamp duty that would otherwise be paid is more than the costs of formalising the property Consent Orders;

• Obtaining an Order from the Court; or

• Entering into a Binding Financial Agreement.