A family law property settlement involves dividing assets, liabilities and superannuation between a separated couple, and/or making a clear determination about what of these items a person will be keeping.
There is no rule that means things will automatically be divided 50/50, or that you will have to give/receive all or some of an asset, liability or superannuation. Instead, we can help you to work through the family law framework to consider what may be considered a fair and reasonable division of property in your particular circumstances.
There is no minimum time you have to wait before dividing your assets in a property settlement, but we normally advise people to let the dust settle for a short while so that people are calmer and more able to consider things, but otherwise to deal with things as quickly as possible after separation.
There are, however, maximum timeframes if you were in a de facto relationship, or have officially divorced after being married. If you are outside the timeframes, you risk being considered ‘out of time’ and facing other issues – the worst of which being that you may not be able to get a property settlement at all. The timeframes are:
Similarly to family law children’s matters, we aim to assist you to reach a quick, amicable and cost-effective outcome whenever possible. We always try to work with your wants and needs, and also work very hard not to ‘de-rail’ the process.
No matter what the circumstances are, we will always ensure that we are in our client’s corner, and we are strong advocates for our clients.
Here at Samford Family Law, we will provide you with the advice relevant to you and your situation, along with the options and practical steps towards finalising your family law matter. We also aim to give well-rounded advice, often touching upon other areas of law whenever needed either by providing advice (if it’s within our expertise), or providing referrals within our trusted network to assist you to consider all aspects.
If you have separated, or are contemplating separation, talk with us to get some advice about your options, potential range of entitlement in a property settlement, and what the next steps may be. And, particularly if you are not yet separated, we can help you consider what resources or support may be available, and what you may be able to do if separation were to occur.
There are three ways to have a legally binding property settlement. All three options will allow you to receive an exemption from paying stamp duty if you are wanting to transfer a property or car into your own name as part of the property settlement. All three options will also allow you to split superannuation from or to your ex-spouse:
"You were brilliant. You took the stress and hassle out of my property settlement"