Family Law Property Settlement

At South Coast Family Law Group, we recognise that property settlements are among the most challenging aspects of Family Law. When relationships change, the process of dividing assets and financial responsibilities can feel overwhelming. Our dedicated team of experienced Family Law Lawyers are here to provide compassionate support and expert guidance throughout the process.

If you need assistance with consent orders for property settlements, contact South Coast Family Law Group today 02 4202 6644.

Understanding Property Matters in Family Law

Property matters in Family Law encompass the division of assets and liabilities between parties upon separation or divorce. This includes not only real estate but also personal belongings, bank accounts, motor vehicles, investments, and superannuation.

Key Considerations in Property Settlements

Identification of Assets and Liabilities: The first step in any property matter is to compile a comprehensive list of all assets and liabilities. This includes properties, vehicles, bank accounts, trusts and debts such as mortgage and personal loans.
Valuation of Assets: Accurate valuation is crucial for a fair settlement. We can assist you in obtaining professional valuations to ensure that all assets are assessed appropriately.
Financial Contributions: The contributions made by each party, both financial and non-financial, play a critical role in determining the outcome of property settlements. This includes direct financial contributions as well as contributions to the household, such as childcare or homemaking.
Future Needs: The future needs of each party, including income, health, and care responsibilities, are considered to ensure a just outcome.
Legal Framework: Property settlements are governed by the Family Law Act 1975. Our Family Law Specialists are well-versed in the legal frameworks that apply to property matters and can provide you with tailored advice.

How we can help

At South Coast Family Law Group, we provide comprehensive support for Family Law property matters across Australia. Our experienced team guides you through the property settlement process to ensure a fair outcome.

Expert Legal Advice

We offer tailored legal advice, clarifying your rights and entitlements to help you make informed decisions.

Asset Identification and Valuation

Our Family Law Lawyers assist in identifying and valuing all assets and liabilities, working with financial experts to ensure accurate valuations for fair settlements.

Negotiation and Mediation

We prioritise amicable resolutions through skilled negotiation and mediation, helping you avoid the stress and costs of Court.

Representation in Court

If necessary, our Family Law Lawyers provide robust representation in Court, advocating for your interests to achieve a just outcome.

Compassionate Support

We understand that property settlements can be emotionally challenging, and we offer compassionate support throughout the entire process.

FAQs About Family Law Property Settlements

What is a property settlement?

A property settlement is the legal process of dividing assets and liabilities between parties after the end of a relationship, whether through separation or divorce. This can include real estate, bank accounts, investments, and personal property and superannuation.

How is property divided in a settlement?

Property division is determined based on various factors, including:

The financial contributions made by each party
Non-financial contributions, such as homemaking and caregiving
Future needs of both parties, considering factors like age, health, and earning capacity

Is there a time limit for applying for a property settlement?

Yes, in Australia, you must apply for a property settlement within 12 months of your divorce being finalised or within two years of separation if you were in a de facto relationship. It’s important to seek legal advice as soon as possible to understand your rights and entitlements.

Do I need a lawyer for a property settlement?

While it’s not mandatory to have a lawyer, obtaining legal advice is highly recommended at an early state. A solicitor can help you understand your rights, ensure fair negotiations, and assist in drafting the necessary legal documents.

What happens if we can’t agree on a property settlement?

If you and your former partner cannot reach an agreement, you may need to consider mediation. If mediation fails, you can apply to the Federal Circuit and Family Court of Australia for a property order, where a judge will make a binding decision on the division of assets.

Can I make a claim for property settlement after a divorce?

Yes, you can make a claim for property settlement even after a divorce, provided you do so within the relevant time limits (12 months from divorce). It’s crucial to act promptly to protect your rights.

What if one party is hiding assets?

If you suspect that your ex-partner is hiding assets, it’s important to gather evidence and seek legal advice immediately. Courts can impose penalties for failing to disclose assets, and your solicitor can help you take appropriate action.

Are inheritances included in property settlements?

Generally, inheritances received during the relationship or after separation can be considered in a property settlement. However, how they are treated can vary based on individual circumstances, so legal advice is essential.

What is a Binding Financial Agreement (BFA)?

A Binding Financial Agreement (BFA) is a legal document that outlines how assets and liabilities will be divided in the event of separation or divorce. It must be signed by both parties and can provide clarity and security regarding property division.

How long does the property settlement process take?

The duration of the property settlement process can vary greatly depending on the complexity of the assets involved and the willingness of both parties to negotiate. Simple settlements can be resolved quickly, while more complicated cases may take months or longer.