As a reputed property settlement lawyer, I always find people coming up to me with their misconceptions and myths which they have heard from a relative or a friend. I understand that separation is a tough time and there comes a moment when both parties want to reach an agreement in regards to the division of property that was acquired during the relationship.
My name is Matthew Buckley, and I am an experienced property settlement lawyer in Sydney, I will offer you the best legal advice regarding how property, income, financial resources and debts will be distributed between you and your partner. It is true that property settlement before or after a separation is quite a difficult task. This is where I come in to provide you with all the support and guidance so that you can accomplish a good outcome out of the settlement of the family’s property.
When a relationship between two partners comes to an end, the need for the dividing of financial assets acquired during the relationship is required. In that case, the requirement for assistance becomes essential. It is at this moment a family lawyer can help attain a favorable outcome from a property settlement issue. Being an experienced lawyer in this field, I can guide you with the appropriate advice in such challenging and stressful circumstances. At the same time, it will be my responsibility to offer you both personal and practical advice so that you can make an informed decision in every step of the property settlement.
Anything you owe money on, or any debts that you may carry, must be handled with utmost care. Settling your money is the most important part of your work.
The settlement can include any debits or credits you have with your bank, any of your mortgage debts, your credit card bills or any finance you have on your land, car or any property.
All debts owed by you and your life partner needs to be discussed and dealt with if you want to have a successful family property settlement. Failing to meet certain assets or desires in the family property settlement by either partner may result in the bad settlement being rejected by the concerned legal authority and thus resulting waste of your time and money.
During your family property settlement, you have to distribute properties such as your family home, your investment properties. Any kind of possessions like cars, bank accounts, and superannuation.
Once you separate with your partner, you need to come to an agreement as to how the assets and debts are to be carried out perfectly in the family property settlement. This is all covered in your family property settlement.
If you both cannot arrive at an agreement, then the Federal C Court is the appropriate place where you can file any proceedings in relation to property settlement. There is no matter that it is too big or too small that a court couldn’t hear.
You must make sure that the rules are followed strictly with their time limits if you file an application for family property settlement.
In case your status is married, you have twelve months after your divorce to issue a family property settlement.
In another case like if you are in a de facto relationship, then you must issue an application within two years after the end of your relationship. To apply for family property settlement.
The rules are strict and if you have not filed within these allowed times, the court may grant you permission to apply out of time. In such cases, you must speak to a lawyer because such cases require a case by case analysis of your family property settlement request.
You need to under that when you separate, what will you receive from your settlement. There are Different laws and acts that exist under the Family Law Act, to all these acts even the court can make changes in the family property settlement issues if they think it to be just and profitable to do so.
The Courts need to consider the financial and non-financial contributions made by each party to the family property settlement.
They also need to ensure that the good being of the family is secure, and any children of the family are taken care of. There are certain cases makes property settlement difficult.
The family property settlement is an arrangement made between parties to divide possessions, liabilities and financial gains when any couple separates. A family property settlement can be done with or without the court’s suggestion as well.
A family property settlement can include almost anything of value, like:
– Property is owned together.
– Business profits and interest.
– Trust owned by you.
– Jewelry possessed.
– Cars possessed by either of the couples.
– Assets acquired through inheritance by the couple.
– Money possession.
– Animals possession are even considered as under family property settlement
A family property settlement is not limited to property acquired during the relationship. Property settlement also includes property owned prior to and after the separation. These can be included in a family property settlement. Liabilities will also be divided between the parties in any family property settlement. These may include:
– Debts you carry by any mortgage or land
– Loans you carry due to education or any other requirement.
– The tax you need to pay and other
– Stamp duty obligations.
There are many resources that can assist you while making any family property settlement without legal or court assistance. However, the complexity of any agreement in a family property settlement may let you seek assistance from a lawyer.
If you can make an agreement without the court’s assistance, under a lawyer, then you will save yourself time and money.
In this case, you may be able to improve your relationship with the other party which may help resolve any future disputes or even the present ones.
If you both agree on the terms of a family property settlement you should have the agreement on the case either by applying to the court for a consent order. You may also make a financial agreement.
A financial family property settlement is similar to any contract because it stipulates the property that has to be divided between the parties. The Family Law Act of 1975 allows benefits and orders to a married or de facto relationship, to enter into a binding financial property settlement. A financial family property settlement can be made before, during or after a relationship and are then referred to as prenuptial family property settlement.
If you chose to make a financial property settlement, you need to make sure you understand the terms of the family property settlement and the agreements related to it. Before signing any family property settlement or agreements related to the same, and each party must receive independent legal and financial advice.
Once the Consent orders are passed for the family property settlement and If you and your ex-partner agree on all the condition of the family property settlement then legal and written forms can be taken for the family property settlement in the form of orders and then seek approval from the court. Once you sign the settlement, you thereby mean that you have agreed to the terms mentioned in the document, it is similar to the way a contract works. After this, if the court approves the order, then it is given legal orders and processes.
You may also apply for a consent order for the family property settlement without any judicial attends.