Twohill Lawyers Family Law Solicitors
Reaching agreement on all your property and financial matters as quickly as possible following separation is important. We can help!
Financial Settlement or Property Matters
If you have mixed funds, or have been entirely dependent on your partner, a financial settlement may be necessary to secure your future. This can be achieved by Consent Order (if both parties agree) or Binding Financial Agreement (BFA).
Consent Orders are more suited to a permanent, secure agreement that can never be changed and is unlikely to require any changes in the future.
- It is an Order of the Court and cannot be changed unless there is a material change in circumstances;
- The Court will want an in-depth explanation as to why the agreement is just and equitable for the parties;
- the Order can take months to be finalised and issued; and
- They can deal with both property (financial) and children’s (parenting) matters.
Binding Financial Agreements on the other hand, can contain whatever curly agreement you wish to make.
- Each party must engage a solicitor to obtain their own independent legal advice on the Agreement, as well as any negotiations that are part and parcel of drafting the agreement;
- It can be used in the same way an Order can to transfer property, split superannuation and/or wind up other joint enterprises;
- It can be updated if circumstances change (such as children growing older, businesses going under etc.);
- Can be challenged later if there was any undue influence or errors made in the drafting of that agreement; and
- will work out much cheaper if you already have a verbal agreement in place and the parties are amicable.
If neither of the above options seem applicable to your scenario, you may want to consider Arbitration or Court Proceedings.
The public court system (i.e. Family Court of Australia or Federal Circuit Court of Australia) can sometimes take 2-3 years to finalise from the date of filing. For more information please click here.
Arbitration is a private court booking, where the parties agree to a Judge (ex-judge or barrister) that is available on a certain date to hear your case and make a binding decision which is later filed in Court. For more information please click here.
We pride ourselves at Twohills to have the ultimate track record in reaching an agreement out of Court. If you are considering issuing proceedings, please call our office to discuss your prospects of settling your case out of Court and moving on with your life as soon as possible and most importantly, saving yourself both time and money.
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