Property Settlement
Fair Property Settlement
We believe the financial settlement process is primarily a financial and administrative process. Our focus is on outcomes, not making the separation / divorce process go on forever.
A property settlement needs to be just and equitable to be approved by the Court. Once assets and liabilities have been agreed and valued, split options can be considered.
Did you know?
There is no formula to divide your property and finances. Australia has a “no fault’ divorce system – the reason your relationship ended is not relevant to the court. The Family Law Act 1975 requires a wide range of factors to be considered when determining how assets should be divided. These factors include not only financial contributions but also non-financial contributions such as homemaking and parenting contributions,, as well as future needs based on each party’s earning capacities and health.
We keep it simple:
Our approach to property settlement in separation is grounded in efficiency, collaboration, and empowerment. We prioritise a streamlined process that enables couples to make informed decisions about their financial futures without the need for extensive legal involvement.
Initial consultation
Schedule an initial consultation with our experienced team to discuss your situation and goals.
Following this consultation, we’ll gather detailed and essential information about all assets and liabilities owned by both parties.
Our team will provide assistance on the property settlement process, outlining the factors to consider and your options under Australian family law.
Agreement is reached
With the information gathered, we’ll assist you and your partner in negotiating a fair and equitable property settlement agreement.
Our team will provide expert guidance and support throughout the negotiation process, to enable you to make informed decisions which are best for your situation.
Your agreement is documented
Once an agreement is reached, our team will work as your agent with the nominated professionals to have the necessary documentation drafted, being either Consent Orders or a Binding Financial Agreement.
You can lodge your Consent Orders with the Federal Circuit and Family Court of Australia or we can arrange to manage this process for you. If you are entering into a Binding Financial Agreement, we can work with the solicitors to ensure all the terms of your agreement have been accurately documented and your agreement is appropriately finalised.
You’re done!
Scenarios
Scenario 1: property division
A husband and wife agree to sell their property and distribute the proceeds equally between them. They engage Div-die to understand how to do this and make their agreement legally binding. Div-ide explains that all assets and liabilities need to be detailed, not just the ones the parties want to split, and Div-ide assists the couple to compile the information they need to provide.
Consent Orders are drawn up professionally to formalise this agreement, specifying how assets and liabilities are to be split between the couple, as they had both agreed. The Consent Orders specify that from the property settlement proceeds, the mortgage and selling costs are to be paid, and the net balance is to be equally distributed between them.
Scenario 2: shares and cash
A separating couple holds various shares and cash. They enlist the assistance of Div-ide to assist them to assess the current market value of their assets and how to divide these assets between them. Consent Orders are then prepared to outline the equitable distribution of all assets and liabilities, including the shares and cash between the parties, in accordance with their agreement.
Scenario 3: superannuation split
A separating couple earn similar incomes and have agreed to care for their children equally. One member of the couple has a larger superannuation balance than the other, so they engage Div-ide to assist them to come up with a fair property settlement solution. After working with Div-ide, they decide to equalise their superannuation balances by doing a super split, and split all other assets and liabilities 50 / 50, so they each have similar deposits for the new properties they each want to buy after they sell their family home. Legal agreements are finalised, in advance of the couple selling their family home, so they both have security before they sell their home, knowing what they will end up with after the sale. Div-ide works with both parties during this process and their mortgage brokers and conveyancers, to determine their borrowing capacity and have such lending preapproved, so they can confidently know how much they each have to spend on their new property.
Scenario 4: SMSF dissolution
A husband and wife have separated but are not sure how to deal with each of their superannuation balances in their property settlement, particularly as the husband’s superannuation balance is considerably larger than the wife’s. They engage Div-ide and Div-ide works with both parties to agree a fair split of their overall assets, with the husband keeping all of his super and the wife getting more of the assets outside of super, to enable the wife to also be able to buy a property, with her lower borrowing capacity.
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