Highly Skilled Property Settlement Lawyers in Brisbane

A property settlement can’t include provisions for matters outside of financial considerations. For example, you cannot organise parenting arrangements. Child support is also generally handled through a separate process. The Court will typically not consider assets not in your possession at the time the settlement is being written, such as a future inheritance. Any assets obtained illegally won’t be included.

There is no requirement to split an asset pool equally. In fact, this is rarely the result. The Court recognises that the fairest way to divide property won’t necessarily involve an equal division. This is because the parties’ circumstances are different. It will consider the parties’ contributions when applying for a property order. It will also establish the future needs of the parties.

The Court doesn’t want parties to revisit court orders constantly. Therefore, once a property order is in place, it is difficult to overturn it. However, there are circumstances where it is possible:

Fraud or Non-Disclosure

If it is discovered that one party engaged in fraud or deliberately failed to disclose relevant information during the property settlement process, the Court may consider overturning the order. This may involve hiding assets or understating their value.

Duress, Undue Influence, or Unconscionable Conduct

If the original order was made under duress, undue influence, or through unconscionable conduct, the Court may review and potentially overturn the settlement.

Material Change in Circumstances

A significant change in circumstances that could not have been foreseen when the order was made may warrant a review. This often relates to matters affecting the child’s welfare of the relationship. It can also include significant financial changes impacting the fairness of the original order.

Practicality of the Order

If it turns out that the order is impractical to implement, or if circumstances have changed, making the original terms impractical, the Court may consider modifications. The bar for this point is high. The order can’t just be inconvenient.

Court attendance is not usually necessary in Brisbane and throughout Australia. Binding financial agreements entered into with independent legal advice can be organised privately. Consent orders are also handled without a court hearing. You may need to attend Court if a dispute arises about a settlement.

1. Asset Pool

A comprehensive list of all assets and liabilities.

2. Financial Contributions

What each party has contributed financially to the relationship. You can make direct and indirect financial contributions.

3. Non-Financial Contributions

Contributions like homemaking and childcare.

4. Future Needs

Factors such as age, health, and earning capacity.

1. Hiding Assets

Full disclosure is a legal requirement; failure to comply can result in penalties.

2. Rushing the Process

Take the time to consider all factors and consult with professionals.

3. Ignoring Tax Implications

Be aware of potential tax consequences when dividing assets.

Financial and property settlements are a complex but crucial part of the separation process. They require careful planning, full disclosure, and, often, professional advice. While it can be stressful, a well-negotiated settlement provides the financial stability and peace of mind needed to start anew.

1. Financial Disclosure
   Both parties must disclose all assets, debts, and financial resources.
2. Legal Advice
   Consult a family lawyer to understand your entitlements and obligations.
3. Negotiation
   Attempt to reach an agreement through negotiation or mediation.
4. Documentation
   Formalise the agreement through legal documents, such as a Consent Order or Binding Financial Agreement.
5. Court Approval
   Some settlements may require court approval to become legally binding.