Divorce Property Settlement Brisbane
FP Lawyers are divorce property settlement specialists. We offer a personal touch to help clients settle even the most complex matters, equitably and fairly.
Divorce Property Settlement Brisbane
FP Lawyers provides advice, mediation and representation for divorce property settlement in Brisbane. Our lawyers provide a caring, personal touch that can help you navigate a stressful time and reach the best settlement possible.
Australian legislation sets out a number of laws about how property should be divided when a marriage or de facto relationship comes to an end.
Deciding how to divide your money and property can be stressful, and reaching a fair agreement is often complex. If you are separating from your partner, our divorce property settlement services can help you reach the best outcome possible.
The Divorce Property Settlement Process
The divorce property settlement process is relatively straightforward. It can be completed at any time after separation.
In most cases, you and your former partner each contact a lawyer that specialises in divorce property settlement. Your lawyers will facilitate communication and mediation to reach a property settlement.
Your lawyers will then draft a binding agreement. This can be done without Court intervention, but you may need the Court’s help if you and your partner are unable to reach an equitable settlement.
While divorce property settlement can be negotiated at any time, you should act quickly. Married couples must file any Applications to the Court within 12 months of a Divorce Order being made. De facto couples must make any Applications within 24 months after the relationship ended.
How Will a Court Determine the Property Settlement Agreement?
You can apply to the Court to help divide property when separating from your partner. The Court will determine the property settlement agreement by:
- Taking an accounting of all assets and liabilities
- Putting a current value on the assets
- Dividing property in an equitable manner
To decide what’s fair and equitable, the Court will consider each party’s:
- Financial and non-financial contributions to the relationship
- Financial situation and future earning potential
- Future obligations
- Costs associated with caring for children
- Age and health
You will need to work with your lawyer if you intend to apply to the Court for a divorce property settlement agreement. Your lawyer will look after your rights and ensure your assets and liabilities are divided equally.
Responsibilities of Both Parties When Separating
Separation is the first step towards divorce or ending a de facto relationship. While there is no formal process for separating, both parties have certain responsibilities. You must:
- Take note of the date of separation
- Continue to care for any children, or make proper arrangements for the care of children
- Inform your family and friends
- Inform organisations like Centrelink and Medicare
- Inform your superannuation and insurance providers
- Decide how to handle your financial affairs, like paying the mortgage and accessing shared bank accounts
These things can reduce your strain at a stressful time, and they will help you prove to a Court that there has been an “irretrievable breakdown” of the relationship.
You should also speak with our divorce property settlement lawyers as soon as you’re able. We can guide you through your responsibilities, help negotiate new arrangements with your former partner, and ensure your assets are protected.
Our Divorce Property Settlement Specialists
FP Lawyers offers divorce property settlement Brisbane trusts. Our team handles all settlement matters with care, helping you and your family reach the best outcome possible.
Katherine Parasyn
Principal
Alyce Carpin
Principal LAWYER
Your Divorce Property Settlement Specialists.
Property Settlement Frequently Asked Questions
The Family Law Act requires that assets are divided in a “just” and equitable” way. This means there’s no one-size-fits-all method for dividing assets, and you can’t expect to split assets 50/50 with your partner.
When dividing assets, we need to consider:
- Past, present and future income
- Starting assets
- Contributions to shared assets
- Health and age
- The needs of any children you share with your partner
- The length of the relationship
All financial and non-financial contributions to your shared assets are considered when dividing assets. For example, if you raised the children while your partner worked, you may be entitled to the family home because of your contributions to parenting and to the household.
In most cases, assets can be divided without going to Court. As your lawyer, we can negotiate with your partner’s legal counsel and reach an agreement that’s fair and equitable for you both.
Yes. You and your partner are both entitled to live in the marital home while separated, regardless of who owns the property. You are both entitled to leave the marital home at any time, but no one can be forced to leave.
You still have a right to the home and your possessions, even if you move out.
If you fear for yours or your children’s safety, contact 000 and speak with FP Lawyers about domestic violence.
Australian Courts have zero tolerance for hiding assets in a divorce. If you fail to disclose all assets, you may face fines, criminal charges (including jail time), contempt of court, or costs orders.
You must disclose all assets, including assets contained within trusts, companies and other corporate entities.
You and your former partner will generally need to agree to the sale of the family home (and other shared property). If your partner wants to sell but you don’t, you can:
- Offer to refinance the property into your sole name (if you are able to do so)
- Reach an alternative settlement arrangement (e.g. divide your other assets in a way that makes the settlement equitable)
- Attend mediation with your lawyer and former partner
Seek a Court Order preventing your former partner from selling the property - Demonstrate a genuine reason not to sell, e.g. the sale of your property would negatively impact your ability to earn an income
Assets must be divided fairly and equitably in a divorce. This may require you to sell the marital home or other assets to properly divide its value.
If you don’t want to sell but are unable to refinance the property into your sole name, your former partner can seek a Court Order for the sale of the property.
Your mortgage still needs to be paid, even if your partner moves out during separation. If one partner stops paying, it can negatively impact the credit score of anyone who is listed on the mortgage, and the lender may be able to take action to recover the debt.
Seek legal advice immediately if your partner stops paying the mortgage during a divorce. You may need a Court Order that compels your partner to continue paying their share of the mortgage until the divorce separation agreement can be finalised.
You should also contact your lender. Most lenders have hardship provisions that can help if you’re unable to pay the mortgage on your own.
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