Property Settlement Lawyers Adelaide
Specialist Family Lawyers
Divorce and separation can be an emotionally challenging time and our expert Property Settlement Lawyers are here to help you get the best possible financial resolution as smoothly and efficiently as possible. We listen to what you want and are dedicated to getting positive outcomes using negotiation and mediation where possible, to avoid the stress of going through court. Agreeing on how to divide property and finances can be tough and some cases will need to go through the court to achieve the best outcome. In these circumstances, you can be assured that we will advocate your case to ensure you get all that you are entitled to.
What is a property settlement?
A ‘property settlement’ is a formal agreement determining how the assets will be divided between two partners after a divorce or separation. Partners who have not been married but were in a de facto relationship can apply for a property settlement if you have been living together for period of at least 2 years. If you have been living together for less than 2 years we suggest you make an appointment with one of our solicitors to discuss what options are available.
Married couples do not need to wait until a divorce has been granted to obtain a property settlement; this can happen at any time after separation. For it to be legally binding it must be finalised through a consent order or binding financial agreement. Property settlement claims must generally be made within 12 months of a divorce or within two years of a de facto separation unless leave is granted by the court.
Assets included in a property settlement
Property settlement generally includes more than just a physical home; the asset pool to be divided between partners takes into account all of the assets and debts of the parties involved. It includes vehicles, recreational items (eg. caravans, jet skis, boats etc), furniture, and financial assets such as bank accounts, shares, superannuation and pensions and much more. A settlement may also include assets that the other party owned prior to the relationship as well as those purchased while in the relationship.
Our Family Lawyers will take the time to listen and understand your individual circumstances and advise you on what will be the most efficient way to finalise your property settlement. Even if you do not have a physical property to settle on, most parties have a superannuation fund which is an asset that needs to be protected against future claims. A property settlement is advisable to finalise your financial relationship and avoid possible future claims against you.
The process of property settlement
Property settlement can be finalised by way of a ‘consent order’ or ‘financial agreement’. Our lawyers will advise you on the best method of settlement. If it is advisable to settle property issues by way of a consent order, the consent order needs to be just and equitable for all parties involved. The length of the relationship will be taken into account, along
with both financial and non-financial contributions made during the course of the relationship. Your future needs will also be considered with regard to who has the care of and responsibility for the children along with employment, age and health issues, amongst other things.
Once the terms of your settlement have been agreed, we can prepare and file a consent order with the court.
When dealing with issues of a financial nature people often disagree, so if no agreement can be reached through mediation or negotiation the matter will need to go before the court for a decision. Our experienced Family Lawyers will work tirelessly to reach an agreement before the need to go through court, but in some circumstances, going through the courts is a necessary action in order to obtain your best outcome or in the event urgent orders are sought to secure an asset or prevent the transfer of an asset.
Our Specialist Family Lawyers have a great deal of experience in this area and we will make sure that your best interests are represented when the courts are determining property settlement matters. We never shy away from difficult matters and have years of experience that you can count on when your situation involves the complexities of trusts, family businesses or overseas properties and assets.
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