At the end of a relationship, it is necessary for you and your ex-partner to divide up your assets and financial resources. Time limits do apply so it is important to start this process as soon as possible
If you have reached an financial agreement after the divorce as to how your assets are to be divided, it is vital that you formally document the agreement in the form of Consent Orders or as a Binding Financial Agreement (BFA). This is to prevent people from changing their mind or failing to follow through with what was originally agreed. To find out more about the difference between a Binding Financial Agreement and a Consent Order, you can read about it here. Having your property settlement formally documented also has the benefit of no Stamp Duty being incurred in any transfer of property, which could save you thousands of dollars.
Our property settlement solicitors can advise you as to the appropriate form that your agreement should take and draft the agreement for you at a competitive price.
If you and your ex-partner are unable to come to an agreement you have the options of mediation or applying to the Court. It is important to get a good family lawyer to assist you in making the best decisions for you and your family. Call our office now to make an appointment to see one of our family lawyers on 07 3390 2344.
Keep track of all assets and debts until financial arrangements after divorce are complete. You may want to take photographs and other records. In some circumstances, it is also possible to place a caveat on a property title. A caveat is a warning to other people that you have an interest in the property and can help you protect that interest. Our property settlement solicitors can advise you if this is a step that you can take.