Property Settlement Lawyers Ipswich
We’re highly experienced in property settlements and family law. Our lawyers are passionate about helping Ipswich families establish property settlements and agreements for an affordable price.
What’s On This Page?
What is Property Settlement?
When a marriage or a de facto relationship breaks down, the Family Law Act offers a structure that helps us identify and fairly divide the relationship’s assets between both parties.
Property settlement is a complicated area of the law. It requires us to identify all of the assets in the relationship as well as the value provided by each person. That may be actual financial contributions, or non-financial contributions. For instance caring for and raising a child or the labour of caring for the family home would count as non-financial contributions.
The property settlement process will see us find a fair and equitable way to distribute the relationship’s assets. These settlements can be mediated outside of court or within the court. Regardless, the final agreement must be sealed by the court.
What happens during Property Settlement?
The property settlement process will involve three core components:
01
The identification of the assets of the relationship
02
The value provided by each party (financial or non financial)
03
The identification of each party’s needs
1. The identification of the assets in the relationship
First, all assets of the relationship should be identified. This means the assets that were obtained during the relationship, as well as those obtained prior to the relationship. There are sometimes exceptions to personal assets obtained prior to the relationship where it’s appropriate — however it often is not.
2. The value provided by each party
The value contributed by each party is considered next. Both financial and non-financial contributions will be considered. This means that while one party may have provided a larger financial contribution to the family home, the other party’s maintenance of the property will also be considered.
One party may have contributed a higher percentage of monetary value to the relationship. This could be balanced by the alternate party taking responsibility for the childcare and care of the home.
3. The identification of each party’s needs
Each party of the relationship’s needs will be identified and considered as well. As an example, the larger family home may be distributed to the party who will become the primary caretaker of the children.
The proposed distribution will then be evaluated (either inside or outside of court) to ensure it’s fair and equitable to both parties. These agreements may be made inside or outside of court, however any final consent orders must be sealed by the court.
Property Settlement Lawyers Ipswich
We’re highly experienced in property settlements and family law. Our lawyers are passionate about helping Ipswich families establish property settlements and agreements for an affordable price.
Book a Consultation
Our $150 in-depth consultation is an initial consultation where we will discuss your situation in detail and provide thorough advice on the next steps you should take to resolve your matter.
10 Minute Free Telephone Consultation
Or, you can get a free 10 minute phone consultation to find if our services suit your specific needs
Why our Family Lawyers offer better value
Affordable Family Law Advice
Approachable, Dedicated Lawyers
Keep Matters Out of Court
Common Questions
If you commence the property settlement process within the court, you’ll have a 12 month time limit from the date of divorce to settle all property and assets. For de facto couples, you’ll have two years from the date of separation.
While divorced couples will have a 12 month time limit and de facto couples a two year time limit to begin the process, it’s hard to say how long the property settlement process will take. It’ll depend on whether it’s taken to court, how agreeable both parties are, as well as the number of assets that need to be assessed and divided.
The cost of a property settlement will depend on a number of factors and so the price will vary greatly. Property settlements will be significantly cheaper if they’re agreed on outside of the court. Our lawyers work to keep costs down by attempting to work with both parties to settle matters outside of court. We also offer free 10 minute initial consultations or a $150 one hour initial consultation.
Book a Consultation
Our $150 in-depth consultation is an initial consultation where we will discuss your situation in detail and provide thorough advice on the next steps you should take to resolve your matter.
10 Minute Free Telephone Consultation
Or, you can get a free 10 minute phone consultation to find if our services suit your specific needs