We understand that separation will often require the untangling of finances and property and this may raise concerns in relation to financial insecurity. We are here to help you achieve a financially sensible outcome.

Generally, legally binding property settlements will occur in one of two ways:

Negotiated agreement – Parties and their legal representatives have a legal obligation to take all reasonable steps to explore all reasonable avenues for settlement without court proceedings and continue efforts to resolve the matter by agreement even where court proceedings are commenced. Negotiating a property settlement will require careful consideration of financial and non-financial contributions made by each party during the relationship and consideration of their future needs. Any agreement reached through negotiations and potentially mediation, may be formalised through draft ‘Consent Orders’ or a ‘Binding Financial Agreement’.

Court Orders – Where a negotiated settlement is not reached, an application to the Court may be made. This process will require further mediation and Orders for a property division will be made if no settlement is reached prior to Final Hearing. The Court in making Orders will identify the property of the parties, assess the financial and non-financial contributions made by each party in relation to the assets, identify the future needs of each party and ultimately determine what will be just and fair in the circumstances.

If you wish to apply to the Court for a property settlement, the application must generally be made within 1 year of the date of your divorce or 2 years of the date of your separation, in the event that you were never married.