Property Settlements Ipswich

A financial agreement is an agreement that you and your ex partner can draw up privately without going to Court and without the need for the financial agreement to be ‘sealed by the Court’ like Consent Orders do.

The benefit of a financial agreement is that if both parties are happy to take on a deal that may not be considered ‘just and equitable’ by the Court, the financial agreement can still go ahead and be implemented.

The obvious downside is that it is not as legally binding as a Consent Order as there are many ways to argue against the financial agreement later down the track.

A property settlement agreement and Consent Orders can both be enforced by the Court as the Court is involved in both of these processes and can deem that either option is ‘just and equitable’. This makes it difficult for you to challenge their validity in the future.

This is why you should always receive advice from an experienced property settlement lawyer in Ipswich or the Greater Springfield area when going through a divorce or relationship break-up. Our family lawyers at VM Family Law can assist you through this process, book a consultation today.

A property settlement is required for the breakdown of a de facto relationship.

In order to define what is considered a de facto relationship, many factors are considered including how long you have been living together, if you have children together, or if one partner has made significant financial contributions to the other.

The process for property settlement for a de facto relationship break up is the same for that of a divorce. Make sure you seek advice from a family lawyer to find out if your situation qualifies as a de facto relationship break down and property settlement is required. For more information on this matter, contact VM Family Law.

The Family Law Act requires a divorced couple to apply for property settlement within 12 months of their divorce while de-facto couples have two years after their separation to apply if you cannot reach an agreement outside of the Court.

Couples who have had a breakdown of a relationship are legally required to try to reach an agreement through Consent Orders first. You will only undergo Court proceedings if genuinely necessary as no agreement between you and your ex partner can be met otherwise.

We always recommend consulting with a property settlement lawyer in both circumstances so you have access to all information and advice available to you. Our family lawyers at VM Family Law can assist you through this process, book a consultation today.

It is recommended that you don’t apply for a divorce until all financial matters have been dealt with during the seperation period.

This can include property settlement, financial agreements, child support and spousal maintenance, if applicable to your situation.

You can start working towards a property settlement immediately after separation with the help of a family lawyer. Your Ipswich property settlement lawyer can advise you on and help you to apply for your divorce when the time is appropriate.

There is no exact calculation or formula used to determine a property settlement in a divorce or de facto relationship break up.

Factors that are taken into consideration include both financial and non-financial contributions to the relationship and family home, plus the ongoing needs of each party including the care of children.

If you cannot come to a private property settlement agreement as a couple using Consent Orders outside of Court, the Four Step Process will be applied by the Court to calculate the property settlement.

In family law a ‘Four Step Process’ is used when couples cannot come to a property settlement agreement outside of the Court. 

The first step is to identify and value the assets, liabilities and financial resources of both parties including real estate, furniture, vehicles, jewellery, anticipated inheritance, investments, and debts like credit cards or bank loans. 

The second step is to look at the contributions towards the marriage or de facto relationship made by each of the parties which includes financial contributions and non-financial contributions such as homemaking or child care.

The next step is to decide whether one of you has greater needs than the other. The care of young children, lower income earning capacity, or one party having more financial resources than the other can influence this decision.

The final step is the official division of the ‘property pool’ between the parties and a final check by the Court that the proposed consent orders are just and equitable in all circumstances.

In most circumstances, yes your ex partner can make a claim for a property settlement agreement whether you have been married or are in a de facto relationship.

Whether they get the house as part of the property settlement agreement depends on your exact circumstances. They may end up getting other assets within your ‘property pool’ and not the house itself.

If your relationship has been very brief, it may be possible that your break up does not qualify for a property settlement agreement. Always seek the advice of a family lawyer to determine what is applicable to your specific situation. Our family lawyers at VM Family Law can assist you through this process, book a consultation today.