What can I expect in my first consultation?
In your first consultation with our experienced Brisbane family lawyers, we will listen to your situation and provide a clear understanding of the options available to you.
We’ll listen to your concerns, explain the relevant sections of the Family Law Act, and outline potential pathways for your property settlement or financial arrangement. We aim to give you a solid understanding of your rights and responsibilities and help you make informed decisions going forward.
What are the time limits for property settlement after divorce or de facto separation?
Under the Family Law Act, divorce property settlements must generally be finalised within 12 months after a divorce order is made. If you were in a de facto relationship, you have two years from the date of separation to apply for property settlement. Failing to meet these time limits may lead to serious consequences, including losing the ability to make a claim on property or financial resources.
Getting early advice from a good de facto separation & family divorce lawyer before you separate will ensure you understand your legal rights and responsibilities.
What is included in our property pool?
The property pool includes all assets and liabilities accumulated during the relationship, such as real estate, bank accounts, investments, business interests, and superannuation interests. This pool is used to calculate an equitable division of property in line with both parties’ financial contributions and future needs.
What's the first step to get started with resolving financial matters with my former partner?
The first step in resolving financial matters is to seek advice from an experienced property settlement lawyer. We can assist you in understanding your financial contributions and non-financial contributions (such as domestic tasks and caregiving) and help you determine the best approach for negotiating a fair and amicable property settlement agreement.
This may involve initial informal discussions or preparing for formal proceedings like applying for consent orders in the Family Court or Federal Circuit Court.
How long does a typical family law property settlement take?
The time it takes to finalise a property settlement varies based on the complexity of the financial arrangements. For an amicable property settlement agreement, it may take a few months to resolve.
However, if there are disputes, such as disagreements over the superannuation interests or assets, it could take longer, especially if you need court orders or property settlement orders. Financial agreements can expedite the process if both parties agree on the terms.
How are debts divided in the property settlement process?
When the whole asset pool is assessed, debts are divided based on financial contributions and the parties’ future needs. A proposed settlement division will reflect both the ability to pay and the circumstances surrounding the debts.
A property settlement agreement will allocate the responsibility for the debts, ensuring a fair distribution aligned with the overall settlement.
Do I need to have my superannuation valued before it is split?
Yes, to ensure an accurate division of superannuation interests, they must be valued before they can be split. This is usually done with the help of a specialist in family law who can request an independent valuation.
Can superannuation be cashed out after it's transferred in a property settlement?
Superannuation interests transferred as part of a property settlement cannot be cashed out immediately unless they meet specific conditions under superannuation law. In most cases, the funds remain in the superannuation account until the receiving party meets retirement age or other relevant conditions.
What happens if my ex-spouse acquires property after we separate?
If your ex-spouse acquires property after separation, it may still be considered part of the property settlement if it is relevant to the overall financial picture. This includes any assets purchased with joint funds or for shared purposes or if it reflects the financial relationship you had.
What happens to overseas assets when during financial settlement?
For settlement purposes, overseas assets are generally included in the property pool. This includes assets held in another country under the former partner’s name or in corporate entities. However, dealing with overseas assets may require additional legal processes or international legal advice to ensure compliance with the Family Law Act.
How is our property split agreed upon and actioned?
The property split is agreed upon through negotiation, mediation or court orders. In many cases, an amicable property settlement agreement can be reached through discussions or the help of a specialist family law firm. Once an agreement is in place, it can be formalised through consent orders or a financial agreement.
Is there a standard percentage property split in Australia?
There is no standard percentage for a property split under Australian family law. The Family Law Act ensures that the division is just and equitable, taking into account the financial contributions, non-financial contributions, and future needs of both parties. The split is tailored to the specific circumstances of each case.
What is meant by 'just and equitable'?
The terms just and equitable mean that the property settlement should be fair to both parties, considering the financial contributions, non-financial contributions, future needs, and other relevant factors such as domestic violence or care arrangements for children. The aim is to achieve an equitable outcome that supports both parties moving forward.
What does it mean if my lawyer is a member of the Queensland Law Society?
If your lawyer is a member of the Queensland Law Society, it means they adhere to high professional standards, ethics, and ongoing education, ensuring quality legal representation and up-to-date legal knowledge.
