Property Settlement
Dividing property between separating or divorcing couples can be complex. In Australia, there are generally four ways to finalise a property settlement:
- entering into an informal arrangement
- obtaining Consent Orders from the Court
- entering into a Binding Financial Agreement, or
- resolving the disputes through court proceedings
Each option involves different levels of legal protection, cost, and procedural requirements.
Based on your circumstances and instructions, the family law team at Lawson Stanford Lawyers can assist you both in negotiating a private settlement or representing you in court proceedings where necessary.
Use the button below to book an instant legal consultation, or a free call with an experienced family lawyer to understand your options and likely range of your property entitlement
Private negotiation and property settlement
You can absolutely reach private agreement regarding your property without going to court, provided it is safe and appropriate to do so. Resolving matters privately can reduce legal costs, stress, and delays.
You can make an informal, non-legal arrangement with your former partner. However, such arrangement will not be legally enforceable and may not be final. If you make an informal arrangement, you or your former partner may still have the right to apply to the family courts at a later time and ask for orders to be made under the Family Law Act. For this reason, where parties reach agreement, we usually recommend formalising the settlement through a financial agreement.
A financial agreement is a legally enforceable private agreement made between the parties under the Family Law Act 1975. It can provide greater certainty on how property, including superannuation, will be divided in the event of separation.
To be valid, both parties must obtain independent legal advice before entering into a financial agreement. There are also strict legal requirements that must be satisfied to ensure the agreement is enforceable.
Our family lawyers can assist with drafting, reviewing, and advising on financial agreements to ensure compliance with these requirements.
Consent orders is an alternative legally enforceable agreement. Unlike a financial agreement, Consent Orders are filed with the Court for approval. If the Court is satisfied that the proposed orders are just and equitable, they may be made without the need for a court hearing.
Understand your entitled property division
The Family Law Act 1975 sets out the steps the family courts will use, and that you should also use, when consider your property entitlement.
The first step is to identify and value all property as at the date of making the agreement or filing the consent orders;
The second step is to identify each of your contributions to the relationship including but not limited to direct and indirect financial contributions, non-financial contributions, household and parenting contributions.
The third step is to consider what each person’s current and future needs.
After considering above, the Court may make an adjustment to the percentages determined at step 2 and 3 to ensure the division of property is just and equitable. This will be the final overall percentage split for your property.
Scope of property settlement
Property settlement can include dividing real estate, shareholdings, businesses, vehicles, superannuation and other assets after separation or divorce. More complex settlements may involve corporate entities, self-managed super funds and family trusts.
In some cases, parties may also address spousal maintenance and child support as part of broader financial negotiations. However, these matters are usually formalised through separate agreements or court orders.
Our family law team can assist you in negotiating and finalising the overall financial settlement.
Resolve property settlement dispute through litigation
Litigation is the ultimate tool of resolving a dispute by commencing court proceedings. If court proceedings are commenced, you and your former partner can reach an agreement at any time during the proceedings, but if no agreement can be reached, the Court will determine how the property will be divided. The Court will consider the orders you want, but will only make the orders it considers are just and equitable in all the circumstances.
Costs of a property settlement
We offer a fixed-fee pricing solution for certain family law services, including some services related to property settlement, providing greater cost certainty, increased transparency and improved efficiency. More about fixed-fee service
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Frequently Asked Questions
I don't know what assets or liabilities my partner has. Can you help me?
Yes. Your former partner has an ongoing duty to provide full and frank financial disclosure with respect to their financial situation until such time as your property matter is resolved. In the event that your former partner is not forthcoming with respect to their financial situation, the Family Court and Federal Circuit of Australia has a wide range of powers to enforce the disclosure. If you have concerns about disclosure or the movement of assets, please do not delay in contacting us for assistance.
