admin Divorce is not easy – there are many issues to consider and decisions to make.
Being able to negotiate your financial affairs amicably with your ex-partner makes the process easier. If this applies to you, you will need to how you will finalise your negotiations.
Binding Financial Agreements:
These private agreements offer certainty to the parties whilst providing a means to have control over how their assets and liabilities will be divided. Financial Agreements are suitable for de facto or married couples and can be made at any time in the relationship.
There are two different ways to obtain a financial agreement. You can retain lawyers to draft your agreement and haggle with your partner about how your settlement will work.
Or you can start with a cost effective Financial Agreement Template that covers the issues and deal with your partner directly.
There are many good reasons for reaching an agreement with your partner.
1. Firstly it keeps you out of court,
2. Secondly it reduces your stress and
3. Thirdly it saves you a substantial amount a time and Money.
Find out more about Binding Financial Agreements Templates here:-
https://www.rpemery.com.au/binding-financial-agreements.html
If the Financial Agreement does not suit you have the option of applying for
Consent Orders.
This means that you will submit your proposed property settlement to the Family Court. The Court must agree with your arrangements and if so, will approve them.
Consent orders are generally not available to de facto couples unless there is a child/ren of the relationship.
Dispute Resolution / Mediation
If the partnership has broken down to the point where effective communication between the parties is no longer possible then you may need to consider dispute resolution or mediation. This may assist you in working through your issues in the hope of reaching a mutually acceptable outcome which you can then finalise by a Binding Financial Agreement or Consent Orders.
Applying to the Court
If you have tried mediation and dispute resolution and you still cannot reach agreement, you may need to initiate court proceedings. The court will consider all of the circumstances of your relationship (and in particularly, those matters listed above) and make an order (this can relate to parenting, property settlement and/or maintenance). The down side of this is the time and expense associated with court proceedings and the resulting decision is recorded on the Public Record. Further, you will need to release control of the outcome to the Court whose decisions are not always predictable.
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