Worried about property settlement in a divorce case?– possible solutions explained – Property Settlement Lawyers Perth
Separations are really tough and with it also comes the most difficult task of the property settlement. Property settlement is basically an agreement on your financial matters that not just include your home, anything of value is considered as your property. The work of Property settlement lawyers is to provide you with advice on what would be an appropriate and equitable split in the eyes of the court, permitting you to directly negotiate with your partner, or you can have an experienced lawyer to represent you through the process.
Our property settlement lawyers Perth are highly experienced lawyers who can advise you on your rights and can run through your assets and those of your partners to give you an idea of the split according to the court and to place you on the best possible position to negotiate. If your partner is not interested in an agreement, still our lawyers can work with you to make sure you have a formalized agreement so that you can move on with your life.
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Property Settlement Process
There is no assumption in the law that the property will be divided equally (50%/50%) between the parties. There are no set formulae that the Court uses to split the property, it depends on the situation of each case and several factors are considered. Matters taken into consideration by the Court in splitting the property includes the parties’ financial and non-financial contributions, future needs including their health and age and the need to care for any children. Finally, the Court will decide whether the presented split percentage is proper and equitable in all situations.
It is important to document the agreement by any of the three – Consent orders, A Binding Financial Agreement (BFA), or by a combination of both. Failing in documenting the agreement means the agreement is not legally binding. To finalise property settlement, or to issue court action, married couples have 1 year time from their date of divorce and for de facto couples, they have 2 years from their date of separation. In some situations, it is possible to deal with property settlement after that time has expired, by applying to the Family Court of Western Australia.
Our team of financial settlement lawyers Perth can provide advice to you on all aspects of property/ financial settlement from negotiation, preparation of an application for consent orders, to court proceedings and they will make sure that all your disputes are settled equitably and efficiently. To know more about our services and for legal assistance contact our divorce lawyers in Perth.