You and your former spouse/partner have separated. You both agree on what assets you will each retain and what liabilities you will each be responsible for. Now what?
The first step in separating from your partner is to try to reach an agreement together. If you are able to do this yourself, you are doing well. This most challenging part of a separation can be attempting to reach an agreement with your former partner and this process can often be costly and time consuming.
If you have an agreement, that is fantastic, but there a few things you need to think about before proceeding further.
Read our article on What should I do when I separate from my Spouse for more information.
Even if you and your former spouse have agreed on what you should each retain as part of the property settlement, you should still:
An application for consent orders is a Court form that formalises the agreement reached between you both. It can be used for both parenting arrangement and to divide the property held by you both.
It is important to formalise the agreement reached between you both to ensure that what you have both agreed on actually happens. It also allows the Court to review the agreement reached between you both (taking into consideration the contributions made by you both, any children of the relationship and your financial positions) to ensure that the agreement reached is a reasonable one. If the Court is of the view that the agreement reached is not ‘just and equitable’, the Court may requisition the application and not make the Orders.
You can complete the application for consent orders yourself, however it is always a good idea to seek assistance from a lawyer to ensure that the agreement is just and equitable, and that the documents are prepared correctly to avoid any unnecessary delays.
If the agreement reached is not ‘just and equitable’, you will need to finalise your agreement through a Binding Financial Agreement. This process requires both parties to obtain independent legal advice from an Australian legal practitioner before entering into the agreement in order for the agreement to binding.
If you would like any further information in relation to the information contained in this article, or would like to have a free consult with one of our lawyers, please do not hesitate in contacting our office.
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Mudgeeraba, QLD, 4213
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Robina Town Centre, QLD, 4230
Phone: 1300 966 833
Email: admin@claritylegalgroup.com.au
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