If you have separated or are going through the divorce process, you will eventually need to answer questions about who gets what in the split.
In family law, this process is known as property settlement. It seeks to arrive at a fair and amicable agreement with your former partner about the distribution of financial resources and assets, including:
At Ramsden Family Law, our Sydney family law team excels in addressing all family law matters and is ready to guide you through the complex and stressful process of property settlements.
Contrary to popular opinion, property settlement is rarely a simple 50/50 split. Because of this, we understand it can be difficult and stressful to work out exactly what you’re entitled to when your marriage or relationship ends.
Luckily, the team at Ramsden Family Law are here to walk you through this process and clearly establish your expectations when negotiating with your former partner. While unlikely, if the matter cannot be negotiated and needs to go to court, our property settlement lawyers are fully prepared to advocate for your entitlements to ensure you get the best outcome.
In property settlement matters, the Family Court evaluates contributions made by both parties to determine what constitutes a fair division of assets. Contributions can take many forms, each carrying significant weight in the final settlement.
Direct Financial Contributions – These include income used for mortgage payments, purchasing property, or funding other investments during the relationship.
Indirect Financial Contributions – Examples include gifts or financial assistance from family members, such as funds for a home deposit.
Non-Financial Contributions – Work done to maintain or enhance assets, such as renovations, landscaping, or caring for the family home.
Parental Contributions – Time and effort devoted to raising children, which the court considers equally as important as financial contributions.
In Australian family law, property settlement aims to achieve a ‘just and equitable’ division of assets so that both parties can move forward without further dispute.
What you are entitled to in property settlement is determined by an evaluation of various factors, including:
A court-mandated evaluation of these factors only becomes necessary if you and your former partner cannot agree on property settlement privately. At Ramsden Family Law, we resolve most property settlement matters outside the courtroom by accurately predicting how the court will view the situation and leveraging this during negotiation with your ex’s legal representatives.
This results in a better outcome for you and your former partner, allowing both parties to control how assets are divided and avoiding the acrimony and expense of litigation.
Due to the inherent complexity of property settlement matters, it is always recommended that you engage legal services to help you navigate the process.
Working with a local property settlement lawyer in Sydney has numerous benefits, such as:
A family lawyer experienced in property settlement matters can perform a holistic evaluation of your situation and give you expert legal advice on how to proceed. Without a lawyer, you’ll likely be overwhelmed by legal concepts you don’t understand and can make errors in judgment that put you at a disadvantage, especially if your former partner is getting their own legal advice.
Suppose your property settlement matter needs to be litigated in Family Court. In that case, you will want a lawyer in your corner who has courtroom experience and can tactfully advocate on your behalf.
A property settlement lawyer in Sydney will work in the same time zone as you and has an office you can visit for face-to-face meetings. This also means your lawyer can attend and support you in negotiation or dispute resolution sessions with your former partner.
Our team comprises accredited family law specialists with decades of experience in property settlement matters. With our in-depth knowledge of financial structures, including unique investment and superannuation options, our solicitors are uniquely equipped to help you navigate the property settlement process confidently.
Ramsden’s family lawyers understand the anxiety and urgency you may be feeling when it comes to finalising your financial relationship with your ex. We will sit down with you and calmly examine your situation to identify a path towards the best outcome for you.
Our family lawyers engage all possible avenues to help you arrive at a satisfactory result without incurring court costs or fighting a lengthy legal battle. We can easily work with your former partner’s legal representatives to arrange negotiated settlements or facilitate alternative dispute resolution practices like mediation.
At Ramsden Family Law, you can trust us to provide legal advice tailored to your circumstances. Our family lawyers appreciate that every property settlement case is different and take their time to develop bespoke legal strategies aimed at achieving your best result.
A consent order is an enforceable family law agreement that allows you and your ex-partner to formalise the division of assets and parenting arrangements. Because it is a legally binding court order, a consent order is difficult and costly for either party to change or overturn. Consent orders are highly valued because they allow you to move forward with confidence that your property and parenting orders are settled.
Our lawyers can help you draft consent orders and negotiate the terms with your ex-partner and their solicitor. Once both parties agree to the terms, an Application for Consent Orders and Minutes of Consent can be filed with the Federal Circuit and Family Court of Australia.
Our team can help you with all aspects of preparing and filing consent orders and all other types of family law court orders.
Property settlements don’t have to escalate to lengthy and costly court proceedings. At Ramsden Family Law, we prioritise achieving amicable solutions through Alternative Dispute Resolution (ADR) methods such as mediation and negotiation.
Our lawyers work closely with registered Family Dispute Resolution (FDR) practitioners to facilitate discussions between parties. This approach fosters collaboration while protecting your rights and ensuring a fair outcome. If an agreement cannot be reached, our team is prepared to represent you in court.
Learn more about our Mediation & Dispute Resolution services.
Financial agreements, now known simply as ‘Financial agreements’ under the Family Law Act, are similar to Consent orders in that they are legally enforceable agreements about the division of marital assets. Some people also refer to them as ‘BFA’S’.
The main differences are:
Financial agreements are only valid if certain criteria are met, such as if both parties have obtained independent legal advice when entering into the document. Unlike consent orders, this is because financial agreements don’t need to meet the Family Court’s guidelines for a ‘just and equitable’ division of assets. The requirement to obtain legal advice is there to protect individuals from entering into grossly unfair arrangements or ‘bad bargains’.
A financial agreement can be entered anytime, including before, during and after a marriage or de facto relationship. In this way, before or during a marriage, they act similarly to prenuptial agreements (prenups) that seek to avoid property settlement disputes should either party seek a divorce. In contrast, consent orders must be filed within 12 months of a divorce order coming into effect or two years from the end of a de facto relationship.
With consent orders, the court must end financial relations between both parties in the fairest manner possible as soon as possible. In a financial agreement, it is possible to maintain financial relationships between both parties, such as joint ownership of a business or investment property.
Consent orders allow you to settle child custody matters in addition to property settlement. A financial agreement only deals with financial resources and material assets.
Assuming you are separating and engaging in the divorce process, the right choice between a financial agreement and a consent order will come down to your individual circumstances and goals.
At Ramsden Family Law Sydney, our property settlement solicitors can help you make the proper determination and ensure your rights and entitlements are protected.
When it comes to divorce, ensuring that both parties walk away with a fair and reasonable property settlement is rarely a simple undertaking. Even with established guidelines on measuring contributions and future financial needs, this is not an exact science and needs to be interpreted with an expert’s eye for detail.
At Ramsden Family Law, our lawyers combine decades of experience, in-depth knowledge of past court rulings, and a compassionate approach to help our clients get what they’re entitled to without unnecessary stress. Importantly, we seek to achieve your best outcome without forcing you to attend court and fight a lengthy battle with your former partner.
Ally yourself with Ramsden’s property law team in Sydney so we can help you move forward without regret.
Contact us today for a free 30-minute initial consultation so we can assess your property matter and discuss your options.
At Ramsden Family Law, we negotiate property settlement matters by ensuring we have a comprehensive understanding of all the financial resources and contributions in your marriage. Equipped with this knowledge, we can establish a baseline for what the Family Court is likely to grant you if the matter was to be settled by a Judge. From this baseline, we can enter into negotiations with your former partner and their lawyer with a firm, evidence-based argument for how assets should be divided.
Property settlement is calculated by the Family Court using a four-step process:
1. Establishing the property pool – Owned assets and financial resources in the marriage, including any debt.
2. Evaluating contributions – The direct financial and non-financial contributions made by either party to the asset pool, including contributions made post-separation.
3. Considering the future needs of each party – This looks at a wide range of factors, including age, health status, parental responsibility, income, earning potential, and more.
4. Impact of the property settlement – A final evaluation of whether the division of assets, financial resources and liabilities is ‘just and equitable’.
Learn more about the 4-step process for property settlement calculations.
The best way to prepare for a property settlement is to hire an experienced family lawyer and carefully collect as much information as possible about your marriage’s property pool and the contributions you and your former partner made.
The factual information about your assets, liabilities and contributions, combined with the experience of an expert lawyer, will ensure you are prepared to navigate the property settlement process and arrive at a satisfactory outcome.
Superannuation is treated as property under Australian family law and is included in the property pool. The court considers the total value of superannuation accounts when determining a fair division of assets.
If your former partner is unwilling to negotiate or provide full disclosure, you may need to apply to the Family Court for a financial order such as to force the sale and division of an asset or to receive important disclosure documents that aren’t being provided. Our lawyers will guide you through this process to protect your interests.
Yes. Any property or financial resources held overseas must be disclosed and included in the property pool. Ramsden Family Law has extensive experience handling international property matters to ensure compliance with Australian law.
Your financial contributions will be carefully considered, along with non-financial efforts and parental contributions. Our team ensures that all contributions are valued fairly in the settlement process to achieve the best outcome.
Yes, through Consent Orders, property settlement and parenting arrangements can be formalised in one legally binding agreement. Our lawyers can help you draft and file these orders with the court.
Yes, Ramsden Family Law have partnered with JustFund who are family law legal fee funders. They will assess your case and pay our legal bills as you go and wait to be paid at the end out of your settlement. To learn more about this opportunity, click here.