Property Settlement

Property Settlement

We offer first appointments with an experienced family lawyer for a low fixed fee of $330 (inc gst).

Our experienced family lawyers manage property settlements with property pools of all sizes. Many people have a home, super and cars. Some have a small business, an investment property and shares. We can assist to negotiate a settlement that is appropriate for you. We can draft Consent Orders, so your agreement stands the test of time, and your interests are protected and any stamp duty on transfers is minimised.

People are often surprised how the Family Law Act applies to property division. We listen to your situation and provide customised legal advice in order to pursue excellent settlement outcomes. It is important to see an experienced family lawyer early as this will maximise your outcomes.

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What does a Family Lawyer do in a Property Settlement case?

Our family lawyers have the experience to represent you through every stage of your matter. We can:

• advise on, negotiate, and mediate an appropriate settlement 
• pursue disclosure of all assets
• draft consent orders 
• commence applications in court and litigate through to a hearing
• attend to post orders transfers/transactions 
• manage enforcement procedures 
• We advise and represent clients with property pools of all sizes and complexity.

When attending to property settlements, we work with a wide range of professionals including, valuers, accountants, forensic accountants, financial planners, commercial lawyers and Barristers throughout Queensland.

We frequently manage substantial and complex property settlements. We advise clients with large businesses, rural properties, corporate interests and trusts. Our family lawyers advise and represent people in Townsville, Queensland and interstate.

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The Process of Property Settlement

The Family Law Act sets out the relevant considerations to determine property division when people separate. Our family lawyers advise in accordance with these laws and can give customised advice applicable to your particular circumstances.

All family law property settlement is determined by a four-step process.

Step 1 -  Identify Assets and Value the Property Pool.       

All joint and individual assets, liabilities and financial resources (eg. superannuation) need to be identified and valued. If the relationship has been lengthy, it can take considerable time to do this. Unravelling property and finances can take time, especially if there is a business, corporate structures or multiple assets. This is where we seek disclosure of assets from all parties. This can be time consuming if parties delay or are reluctant to disclose.  While it can be a frustrating wait, it is always in a clients best interest to be patient while this step is completed. It is also critical to get advice as early as possible as this may affect your outcome.

Step 2 - Identify the Contributions Parties have made to the Property Pool.

The Family Law Act sets out the types of contributions that are relevant (which may be contrary to what some people think relevant).

All direct and indirect, financial and non-financial contributions are relevant. These will be identified and considered. The length of time parties have been together and what they bought to the relationship will be relevant when weighing contributions.

Step 3 - Consider the Future Needs of each Party.

Each party may have future financial needs that need to be considered. These will be taken into account and may result in a larger percentage being apportioned to you.

Step 4 - Consider what is Just and Equitable.

Any proposed settlement must be just and equitable for both parties.

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Client Library - FAQs

We have many free resources on our website and we regularly update our online client library with useful information. For answers to frequently asked questions about separation and divorce, feel free to have a look at our family law resources page.

Family Law FAQs and Free Resources

Time Limits

There are time limits applicable to property settlement and spousal maintenance - that are relevant to married and defacto couples who separate and/or divorce. 

If you are married:

An application for property and spousal maintenance must be made within 12 months of your divorce becoming final. 

Later applications require special permission from the Court but this permission is not always granted. 

If you were in a de facto relationship:

An application for property settlement must be made or filed in the Court within 2 years of the separation of that de facto relationship.

It is critical that you obtain legal advice before these time limits run out.

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If your 12-month property time limit is running out soon -

you should seek legal advice urgently.

You may need to make an application to the Court in order to protect your legal rights. 

What is a Family Law Property Pool?

A family law property pool can consist of various assets and financial resources.

Assets

Assets may include:

• The family home
• Cars, Boats, Caravans, Motor Bikes
• Cash
• Investment properties
• Commercial properties
• Family companies
• Farms/rural properties
• A Business with Company and Trust structures
• Share portfolios and Funds

We have resolved disputes where family businesses have included: accounting practices, electrical businesses, construction, truck/transport operations, retail businesses, large rural/cattle properties, harvesting businesses - all types of business, small, medium and large.

Financial Resources

Financial resources are mainly Superannuation, including self-managed super funds.

If you are under retirement age, these are technically not available to you until your reach a certain age. However, the funds can be split or divided between parties to achieve a fair outcome after separation. A property settlement can be made to ensure you receive your fair share superannuation even if there are no substantial assets.

Having Superannuation to look forward to will have a very significant effect on your financial future at retirement age. 

Non Disclosure

If you are concerned your ex is disposing of assets or dealing with property without your consent and contrary to your interests,  it is essential to obtain advice from an experienced family lawyer urgently. 

If there is real estate property, in your ex-partners name (you are not on the title) you may still have an interest and and entitlement to this property. If you think your ex may sell, transfer or borrow money against the property you should seek urgent legal advice to protect your interests. A caveat can be lodge on the title to prevent further non-informed action and to protect your property interests. 

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Fees and Prices

We are transparent about fees. We give quotes and estimates and keep you informed every step of the way.

We discuss fees every step of the way, so you have all the financial information you need to make the best decisions possible about your settlement.

First Appointments are a low fixed fee of $330. We have more information about fees on our Fees and Prices page.

Fees and Prices

What is the Process of Family law Property Settlement?

Negotiation

Ideally, people disclose all assets and financial resources; they obtain advice from an experienced family lawyer about an appropriate division/settlement; lawyers are able to negotiate on behalf of their client, reach an agreement quickly and then formalise it by drafting consent orders for the court to approve.

There are occasions where people come to us, and they have almost reached agreement with their ex. This saves in legal fees as we are engaged to advise if the agreement is fair and reasonable and to formalise it by drafting consent orders for the court. We always recommend people seek advice from an experienced family lawyer in these circumstances.

These are dream scenarios though! If parties cannot reach agreement, an application may need to be made to the court to make orders about property division.

The court will require the parties to have attended mediation. Also - private mediation may be arranged in an effort to settle issues and avoid the cost of court. 

Mediation

Prior to filing an application in the Court, the Court will require the parties to attend a mediation conference.

Further efforts will be made to resolve the matter at this conference. many mediations result in agreement being reached and consent orders being prepared.

If there has been domestic abuse in the relationship, the conference will cater to this so that the parties are not in a room together. 

Agreement - Consent Orders

If an appropriate agreement is reached, we formalise the agreement it by drafting consent orders for the court to approve. 

We regularly draft orders to capture the details of an agreement. This can be complex. An experienced family lawyer is invaluable when preparing consent orders.

Going to Court

If negotiations or mediation does not lead to settlement or agreement, we can file an application in the Court on your behalf.

There are time limits that apply so it may be important to file an application to the court to protect your property entitlements.

This application is for Orders in relation to all property and financial resources like superannuation.

Filing an application in the Court doesn't mean you will need to proceed to a final hearing.  Faced with the costs of defending a court application, your ex may become more reasonable in negotiating an agreement.

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Spousal Maintenance

In addition to both parents having an obligation to support children, there may also be an ongoing obligation to contribute some financial support for an ex-spouse/defacto partner.  This is referred to as Spousal Maintenance. We can advise if this is appropriate in your situation.

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