Experienced Family Law Firm Based in Perth.
Our advice is designed to bring your matter to the best possible outcome in the shortest amount of time.
About Dimond Family Lawyers
The leaders in Family Law matters in Perth.
Helping you achieve a successful plan.; settlement.; mediation.;outcome.
When a married or de facto couple separates, it is important to consider the division and allocation of assets and liabilities to each spouse. It’s important to note that until the Family Court issues an order, a financial relationship still exists. Getting help from a property settlement lawyer is important as “property” encompasses all assets and liabilities, including superannuation, whether owned individually, jointly, or by a company or trust.
Although being married or in a de facto relationship may entitle a partner to a property settlement, there is no legal requirement for these assets to be divided equally. Furthermore, there are specific time limits within which you can apply for property settlement.
So, if you’re going through a divorce or separation and need help dividing your assets, we encourage you to contact our experienced team of Perth lawyers first so we can help you avoid the stress and hassle of going through this process alone.
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Property Settlement
Our Legal Practice Director, Erryn Dimond discusses matters surrounding separation and property settlement.
The Process of Property Settlement
Reaching an agreement on the division of assets can often be a challenging task for married or de facto couples. Seeking guidance from an experienced lawyer can alleviate many difficulties during the process and preempt any future financial claims from your ex-partner.
Frequently, parties can achieve a settlement on property matters with the guidance of their legal representatives. Once agreement is secured an Application for Consent Orders can be completed, signed by both parties and lodged with the Family Court for consideration.
Upon approval of the application by a Registrar of the Family Court, a Family Court Order will be released to each party, including enforceable terms of the agreement.
By securing a court order, both parties can rest assured that their agreement is binding and enforceable.
It is also possible to resolve property settlement by way of a Binding Financial Agreement.
In the event that an agreement cannot be secured regarding property settlement, it may be necessary to initiate proceedings in the Family Court. A significant number of property settlement applications that are filed in the court are resolved through negotiation or mediation, without needing to proceed to a final hearing or trial .
However, if a settlement cannot be secured, the matter will proceed to a final hearing before a judge or magistrate to make a determination as to how the couple’s property should be divided.
If you would like more advice on what you need to achieve a pain-free and amicable separation please call us for a free 15-minute consultation or send an enquiry using our online form.
Why Choose Dimond Family Lawyers?
When it comes to property settlement, it is important to have a skilled and knowledgeable legal team on your side. Our lawyers have extensive experience in all aspects of property settlement, including negotiating and drafting property settlement agreements, and providing advice and guidance regarding the transfer of superannuation and formal valuation of assets.
We understand that every situation is unique, which is why we provide tailored solutions that are specific to your needs. Our team takes the time to listen to your concerns and provide personalised advice that is tailored to your individual circumstances. We are committed to helping you achieve the best possible outcome in your property settlement matter.
Our services cover all aspects of property settlement including:
- Assisting the parties to agree the value of assets and liabilities either informally or with the assistance of an expert;
- Providing tailored advice regarding the facts and circumstances of the relationship that might justify a percentage adjustment in favour of either spouse;
- Drafting of technical orders to facilitate the transfer of superannuation entitlements between spouses, including securing approval from the trustee of the relevant superannuation fund in advance;
- Attending lawyer-assisted mediation conferences;
- Representing our clients in court, including attendance at court-based conferences, direction and monitoring hearings, interim hearings and other court-based events.
At Dimond Family Lawyers, we take a proactive approach to resolving property settlement matters. We understand that disputes can be emotionally challenging, and we are committed to finding practical and cost-effective solutions that minimise stress and anxiety.
If you need assistance with property settlement in Perth, look no further than Dimond Family Lawyers. Contact us today to schedule a consultation with one of our experienced family lawyers. We are here to help you every step of the way.
Frequently Asked Questions.
Property settlement refers to the process of dividing assets, liabilities and superannuation between parties who have separated in Perth. It is a formal legal process that determines the financial entitlements of each party with the intention of implementing a just and equitable division of relationship assets.
The Family Law Act 1975 (Cth) and the Family Court Act 1997 (WA) lists the various factors that are considered when determining a just and equitable division of relationship assets between separated spouses in Perth, Western Australia, including (but not limited to):
- The composition and values of the assets and liabilities of the relationship, including financial resources that may be available to either party;
- The financial and non-financial contributions made by each party at the commencement of the relationship, during the relationship and post separation;
- The future needs of each spouse which might include age, health matters, income earning capacity, care of children and payment of child support.
The time to resolve a property settlement dispute in Perth can vary depending upon the complexity of the case, the willingness of the parties to negotiate and whether the matter proceeds to court. Generally, matter is resolved by consent, can take up to 6 months, including drafting and filing the necessary application for consent orders. If your matter proceeds to court, then the time to trial can be up to 2 years, and sometimes longer.
The process of property settlement in Perth often includes the following steps:
- Gathering information and exchanging disclosure documents that relate to the party’s financial circumstances, including assets, liabilities, superannuation, and financial resources.
- Negotiating a settlement through attendance at mediation or another type of alternative dispute resolution.
- Negotiating a settlement by way of correspondence between each party’s legal representative.
- If agreement is secured, the details are documented and formalised by way of an Application for Consent Orders (or Binding Financial Agreement).
- If agreement cannot be secured, then it may be necessary to initiate proceedings in the Family Court of Western Australia.
Yes, property settlement can be formalised without going to court.
If one party refuses to participate in property settlement in, the other party can apply to the court for orders for property settlement. The court may make orders based on the available evidence and without the consent of the other party.
Superannuation is considered as property and is subject to division between separated, married or de facto couples during the property settlement process in Perth, Western Australia. Subject to prior written approval from the trustee of the superannuation fund. The court can make orders for the transfer of superannuation entitlements from one party to the other. This is called a “superannuation splitting order”.
In general, a final property settlement order cannot be changed or set aside unless with the consent of the other party or under very limited circumstances.
These limited circumstances include but are not limited to:
- Fraud or duress, including non-disclosure at the time of agreement;
- Circumstances of an exceptional nature relating to the care of a child of the marriage, such that the applicant would suffer hardship if the order was not varied;
- That circumstances have arisen since the order was made, that make it impracticable for the order to be carried out.
The value and use of property owned by a party prior to the commencement of a relationship is considered an initial contribution by that party. Whether or not an adjustment will be made in favour of the spouse that contributed the asset depends upon the holistic contributions made by each party and the length of the relationship.
In Perth you are not legally required to hire a lawyer for property settlement. However, it is strongly recommended that you seek legal advice to ensure that your interests are protected and that the settlement agreement is fair and enforceable.
Property settlement involves the division of assets and liabilities between parties following the breakdown of a marriage or de facto relationship. The process can be complex and emotionally charged, particularly if there are disputes over property ownership, financial resources, or parenting arrangements.
A lawyer can provide valuable guidance and support throughout the property settlement process. They can help you understand your legal rights and obligations, negotiate with the other party on your behalf, draft and review legal documents, and represent you in court if necessary.
While hiring a lawyer may involve additional costs, the benefits of having professional legal advice can outweigh these expenses in the long run. Ultimately, the decision to hire a lawyer for property settlement in Western Australia, will depend on your individual circumstances and the complexity of your case.
