If you have separated or divorced from your partner, you are probably worrying about what will happen to you financially.
You will need to make decisions about the finances, property, and other assets (e.g. superannuation, shares) that you and your former partner have, and also any debts or liabilities you each have. This process is known as a property settlement.
If you and your former partner can agree on a settlement, we recommend that you speak to a family lawyer about the agreement before it’s finalised, because the agreement can only be set aside in limited circumstances.
If you cannot agree on the settlement, a family lawyer can negotiate with your former partner on your behalf, or support you at the Family Law Courts to get a Property Settlement Order if you still can’t reach an agreement.
There are time limits on property settlement: you can finalise it any time after you separate, but it must be done within 12 months from the date of your divorce (the date the Certificate of Divorce was issued), or within 2 years if you were in a de facto relationship.
Property settlement can be a difficult process, especially if you have limited resources. Contact us to find out how you can defer your legal fees until you reach settlement (conditions apply).
Make an appointment to speak confidentially with one of our family lawyers about getting a fair property settlement.
When you apply for a property settlement, you will need to disclose your financial circumstances (assets and liabilities).
The court will usually consider the following factors in deciding on the property settlement:
To reduce worry and be prepared, speak with one of our family lawyers today.
We believe that everyone deserves access to good legal advice and representation, which is why we offer:
Speak to one of our expert family lawyers in Cairns to take the first step to reaching a resolution.
*Conditions apply. Give us a call to find out if you are eligible.
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