Contact Us: 03-9800 7500
Suite 4, 426 Burwood Highway, Wantirna South 3152

Coming to Agreement

If you and your partner have come to an agreement, we advise that you formalize the agreement.

Reaching a settlement out of court saves you and your family considerable time, stress and money.

There are two ways that your agreement can be formalised:

  • Financial Agreements
  • Consent Orders

Financial Agreements:

These are similar to pre-nuptial agreements, but are signed before, during or after a marriage. Under the Family Law Act Section 90D, financial agreements cover the following:

  • division of property, finances and debts after a marriage breakdown
  • superannuation
  • spousal maintenance
  • Other incidental issues.

For financial agreements to be legally binding, both parties must have signed the agreement and have received independent legal and financial advice before signing.

Consent Orders:

Consent orders are a written agreement that are formalised and approved by the Court and thus are legally binding. To file consent orders, the neither you, nor your partner, need to go to Court.

Consent orders can deal with the following:
  • The transfer or sale of property
  • The splitting of superannuation
  • Spousal maintenance.

Consent orders are filed with the nearest Family Law Registry and there is no filing fee involved. The Court must be satisfied that the orders are properly drafted and that the terms of the agreement are “just and equitable", before it will approve them.

Property Settlement in Court:

If no agreement can be reached then an application for property orders must be submitted to either the Family Court of the Federal Magistrates Court.

An application must usually be made within 12 months of your divorce becoming final.

The decision is then made through a Court Hearing. Both parties are expected to fully disclose their respective financial circumstances. A failure to make proper disclosure of a relevant matter is taken very seriously.

 

Liability limited by a scheme approved under Professional Standards Legislation
Website design by DCS!