Overview

After separation it is imperative to ensure a clean financial break from your former partner so that you can move on with your life and protect yourself financially moving forward.

In summary, a property settlement involves the “just and equitable” division of assets taking into account factors including:

• The length of the relationship
• The “contributions” made by each party
• The “future needs” of each party (e.g. health, income, care of children, etc)

In some circumstances, one party may also be required to pay spousal maintenance to the other to cover their reasonable living expenses. More commonly, this is “interim” maintenance paid until a final settlement is reached. It is less common in Australia for maintenance to be paid after a final financial settlement is reached.

Note that maintenance is a separate matter to child support.

To be binding, a financial settlement must be formalised as either consent orders of the Court or a financial agreement that meets the requirements of the Family Law Act.

How we can help

If you have not yet reached an agreement about your financial settlement, we can give you advice about your entitlements and options.

We can also represent you in settlement negotiations. Usually, this occurs through letters, conferences, or mediation with your former partner or their lawyers.

We are a solutions-focused firm and resolve the vast majority of our cases without the need for court proceedings. However, if your matter is in court, we can also represent you in the proceedings.

If you and your former partner have already agreed to a settlement, we can you help to prepare the documentation for the agreement to be binding, or we can review the documents prepared by your former partner’s lawyers.