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Property Settlement

A property settlement, also known as a financial separation, is the legal dividing of your joint property after separation. It can be complex, but we simplify the process so you can move on faster.

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Cost of a Family Lawyer

Why you need a family lawyer for
a property settlement

Financial Assets

Ensure a fair split of financial assets

The division of property is a complex and often difficult and lengthy process. Contrary to popular belief property is not split 50/50. A good family lawyer will negotiate the very best settlement offer based on factors including the financial and non-financial contributions of each party in the relationship.

Timely Legal Services

Keep things moving along in a timely matter

You only have a limited period of time following your divorce/separation to have a property settlement finalised. Using a family lawyer will ensure that all parties fulfil their obligations in a timely manner meaning you can move on with your life quicker with a legally binding agreement in place.

Dispute Resolution

Resolve disputes in an amicable way

We enable property settlement disputes to be resolved at the earliest possible times and in terms that our clients can control, rather than being imposed upon them by the Family Court. We remove the emotion out of disputes ensuring you get the best settlement possible.

Financial Assets

Ensure a fair split of financial assets

The division of property is a complex and often difficult and lengthy process. Contrary to popular belief property is not split 50/50. A good family lawyer will negotiate the very best settlement offer based on factors including the financial and non-financial contributions of each party in the relationship.

Frequently asked questions

Property settlement agreements can cover all assets, liabilities and financial resources held by each party, including: - Residential and commercial properties, including furniture - Businesses - Trust structures including family trusts - Mortgages - Personal loans and motor vehicle loans - Overdrafts - Business and taxation debts - Bank accounts - Share portfolios - Lines of credit - Superannuation interests including self-managed super funds - Life insurance policies - Jewellery, including wedding and engagement rings and family heirlooms
You do not have to be married to apply for a property settlement. Under the Family Law Act, de facto couples have the same rights as married couples regarding separation, child maintenance and the distribution of property.
Each case is unique and the court will decide who gets what based on the individual facts of the case. You are entitled to your fair share of property, however there is no fixed percentage of property allocation in Australia. The court will consider a variety of factors relevant to your situation that results in an equitable result for both parties. The court will consider the value of assets and the contribution of each party to the relationship since it began, as well as the future needs of the parties based on their age, health and ability to generate income.
Once you reach an agreement on how to divide your property after a separation or divorce, the next step is to place the terms of agreement into a legally binding contract. Once the agreement is signed, all property allocated according to the agreement is considered separately owned by the individual parties.
It is difficult to determine the exact cost of a property settlement as each case is different. Costs depend on how willing both parties are to settle, how complex the individual case is as well as any unexpected factors that may arise. Legal fees for a property settlement may cost several thousand dollars so it is important you use a family lawyer who is an expert in property settlement and can quickly get you the best outcome.
In order to protect your property during a property settlement, you should keep track of all your individual assets and debts until all financial arrangements are finalised. You can also obtain a court order to ensure your partner can’t sell your property or spend your money if you think that might be a risk.
If you cannot come to an agreement, you should commence a court proceeding to determine the split of property. The court will consider a variety of factors relevant to your situation that will result in a fair outcome for both parties.
A married couple has 12 months from the date their divorce is finalised, and a de facto couple has two years from the date of separation to apply for a property settlement. In rare, exceptional circumstances, the court may grant an extension on the time limit. It is suggested for individuals to apply for a property settlement sooner earlier rather than later, particularly if certain property gains value over time.
Superannuation, under the Family Law Act, is considered property. It can therefore be divided between couples undergoing a property settlement, however splitting superannuation does not equate to a cash asset.
Future inheritance is considered in some cases if the individual providing the inheritance (the benefactor) either lived with or was cared for by both parties of the relationship, then inheritance is likely to be considered part of the property pool in a property settlement.

Why choose us

We will tell you the truth at all times

We will be honest with you about your prospects of success, issues that arise or the commercial viability of your matter. The first time you come to see us, we will tell you whether you even need a lawyer.

We will respect you and your situation

Our job is not to judge anything you may have done. Our job is to guide your matter and actions moving forward to give you the best possible outcome for you, both legally and personally.

We will listen and understand your needs

We will hear not just what you want to achieve, but why you want to achieve it. We will tell you what you need to do to achieve the outcome you are after, legally, practically and emotionally.

We will stand by you all the way

Your matter doesn’t finish once a court order has been made. We will stay on your matter right up until all of the outstanding issues have been dealt with and the court orders are complied with.

We can help you through your divorce.

Forge Legal’s divorce lawyers are specialists in all areas of family law and can assist you with all legal matters in your divorce/separation.

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