You have separated and agree on how to divide your assets…. so what is next?
The most common way to finalise a family law property settlement is to complete an Application for Consent Orders and file in the Federal Circuit and Family Court of Australia. Once filed, a Registrar will read the Application and determine if they are just & equitable (fair on the parties).
Alternatively, you can enter into a Financial Agreement. A Financial Agreement will require both parties to obtain comprehensive, independent legal advice, so if you are entering into a Financial Agreement then you will both need to obtain lawyers. However, if you enter into an Application for Consent Orders then you are able to choose if you want to use a lawyer.
People will generally use a Financial Agreement when an Agreement has been reached that a Registrar would not consider it just & equitable. For example, if you wanted to retain the property in joint names for an extended period of time.
If you have reached an agreement, contact us to talk about which document will be the best for you to finalise your family law property settlement.
We offer fixed fees for both Application for Consent Orders and Financial Agreements.