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STAGE 1
Engage & Data
STAGE 2
Define & Agree
STAGE 3
Document & Lodge
STAGE 4
Approve & Complete
STAGE 1
Engage & data
- Both parties provide proof of identity
- Both parties sign engagement letter
- Provide pragmatic advice to assist both parties
- Collect financial and other information
STAGE 2
Define & agree
- Detail assets and liabilities of each party
- Detail any other factors for consideration
- Consideration of future needs and earning capacity of each party
- Impact of children [if any]
- Agree % split
- Agree asset and liability split
STAGE 3
Document
- If required, we will act as your agent and engage with a solicitor to prepare any legal documentation
- Both parties sign either:
- Consent Orders – arrange for Lodgement with the Federal Circuit and Family Court of Australia, or
- Binding Financial Agreement – arrange for both parties to sign with the required legal advice for the agreement to be finalised
STAGE 4
Complete
- Consent Orders – reviewed by a Registrar of the Federal Circuit and Family Court of Australia
- Consent Orders – approved by Federal Circuit and Family Court of Australia (or further information required)
- Binding Financial Agreement – finanised once both parties and their lawyers have signed off
- Practical matters to be completed post settlement.
Our separation services
Property settlement
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 then be considered.
Consent orders
You and your partner should formally document your property settlement, and this can be done by Consent Orders or a Binding Financial Agreement. Consent Orders are proposed orders which both parties agree on and they ask the Federal Circuit and Family Court of Australia to formalise these as court orders. Consent Orders are legally binding. You are not required to be represented by a lawyer or to seek legal advice, before entering into consent orders. However, getting legal advice will help you to understand your rights and responsibilities.
Binding financial agreements
You and your partner should formally document your property settlement, and this can be done by Consent Orders or a Binding Financial Agreement. A Binding Financial Agreement is a contract between the parties under the Family Law Act 1975. Both parties must get legal advice from an Australian lawyer, before entering into a Binding Financial agreement for the agreement to be legally binding.
Learn more Divorce
Divorce is the legal end of a marriage. Australia has a “no fault” divorce system. This means that the reason the marriage ended is not relevant when applying to the court for a divorce. The only ground for divorce is that the marriage broke down and there is not reasonable chance the parties will get back together. Once you have been separated for over 12 months you can apply for a divorce. We can assist you to navigate through this process.
Superannuation splitting
Superannuation can make up a significant portion of the assets that need to be split during the separation process. Contact us to discuss the best approach for your situation.
SMSF financial settlements
We specialise in helping Self Managed Super Fund (SMSF) holders navigate the complexities of separating these funds. We listen to understand why you have a SMSF and will come up with a solution as to how best to split your member balances, based on each of your preferences to continue having a SMSF and your need for a SMSF. Contact us to discuss your situation.
Pragmatic advice
Div-ide, as Chartered Accountants, will be able to provide you with pragmatic advice for your situation and goals. Many of the issues surrounding financial settlements require only pragmatic solutions. Div-ide’s experience with many financial settlements enables us to give you practical solutions to the issues that will inevitably arise from separation. Such as: who pays the mortgage if one person has moved out of the family home, how should costs for the children be fairly shared, can one person buy another property before the property settlement is finalised, how should inheritances received be considered. As part of this process, child support options are also considered and agreed upon, if appropriate.
Specialist advisors
As Chartered Accountants we can provide any detailed financial analysis required. Through our network we can also liaise with any of the specialist advisors as required, including: taxation accountants, valuers, mortgage brokers, financial planners, stock brokers, conveyancing solicitors, estate planning lawyers and others. Liaising with such specialist advisors enables Div-ide to consider the specifics of your situation and advise on action plans that are tax effective, achieve asset protection, and have assets taken up at their fair market value.
Child support
Child support is a separate matter from property settlement and divorce. The options for Child Support are outlined by Services Australia. Div-ide assists couples to understand the various child support options and to agree on practical solutions that will work for their family.