Property Settlement

PROPERTY SETTLEMENT TIME LIMITS APPLY

 The best course of action when there are property matters to settle in a de facto relationship separation or Divorce is to seek legal advice straight away. There is a window of opportunity to make a claim to your entitlements. You don’t want to miss the claim cutoff. Evans Brandon Family Lawyers are the premier property settlement lawyers on the Gold Coast.

Property Settlement

Property is all your assets and liabilities:

  • Mortgages, loans, credit cards, debts you pay or receive payment for.
  • Investments.
  • Trust entitlements.
  • Inheritances.
  • Cash.
  • Furniture, white goods, jewellery.
  • Superannuation.
  • Intellectual property.
  • Lottery winnings.
  • Gifts from parents and relatives.
  • Employment entitlements.

If you are considering settling your property issues without legal advice remember that Court Orders and Binding Financial Agreements exist to prevent future claims.

How The Court divides property

There are four (4) steps which are followed to determine a party’s entitlement to an adjustment of their interests in their or their spouse’s property as a result of the breakdown of a relationship.

  1. Identification of your assets and liabilities and their value are determined.
  2. A consideration of whether it is ‘just and equitable’ to make any adjustment to your interests in the available property pool.
  3. Assessment of your contribution to the property, before, during or after the relationship.
  4. Importantly, the Court decides if and where there should be any adjustments in your favour, for one or both of you. Factors considered include caring for your children, your earning potential, health condition and age.

Evans Brandon Family Lawyers and our team of property settlement lawyers regularly appear on matters in front of Family Law Courts in Brisbane and throughout Queensland as well as interstate.

A word of warning

Disclosure

If you have not fully disclosed all your assets, liabilities and financial resources to the Court, it’s unlikely you will achieve your preferred outcome.

Documentation

Make a copy of all financial documentation before leaving the family home. Keep them in a safe place or with your family lawyer.

Timing

After 12 months of your Divorce being finalised, or 24 months of separation in a de facto relationship, you may not be able to apply for property adjustments. You will need to seek the permission of the Court.

Pre-Action Compliance

Parties must still comply with the Court’s Pre-Action Protocol. This is to encourage parties to engage in mediation and resolve their matter without incurring significant legal costs and the emotional costs of litigating the matter in Court.

The Federal Circuit and Family Court of Australia has published a brochure explaining process – Before You File Pre-Action Procedure For Financial Cases.