Property and Financial Settlements

Our lives and finances are becoming more and more complicated. A financial settlement may need to cover a wide range of things including:

• The family home.  Decisions will need to be made about who will keep the home or whether it will need to be sold.
  
• Investment properties and shareholdings. Often there are taxation consequences that need to be considered as part of any settlement.
  
• Trust, company and partnership structures.  If you are retaining the structure, care needs to be taken to properly remove your partner from ongoing involvement in the entity. If you are stepping out of the entity, we will make sure you are protected against any future liabilities of the entity.
  
• Businesses and farming enterprises.  Property settlements may need to ensure the ongoing viability of the business or farming enterprise to ensure ongoing income for the family.
  
• Superannuation.  Superannuation may be split between you and your partner.  Or one of you may keep more of the superannuation and the other may keep more of other assets. Self managed superannuation funds are becoming more common and need particular attention.

There are many factors to consider with property and financial settlements, including:

• Your and your partner’s contribution during the relationship (both financial and non-financial); and
  
• Your and your partner’s future needs, including ongoing care of children or others, earning capacity and other financial resources that may be available.

If you are thinking about a separation, or have already separated, contact us for advice about your rights and entitlements before agreeing to a financial settlement.

We can help you in your discussions with your partner and assist you to reach an agreement about a financial settlement.  After meeting with us, you might wish to have direct discussions with your partner to try and reach an agreement, or you might prefer us to negotiate with your partner or their lawyer on your behalf. We will talk to you about the best way of achieving an agreement in your particular situation.

Once you and your partner reach an agreement we can prepare the documents needed to finalise the property settlement so that you are protected from further claims from your partner in the future.  You can rely on us to implement the agreement including taking care of property transfers, and any changes to companies or trusts.

Our preferred approach is to resolve property and financial matters by agreement wherever possible. This minimises your stress and financial costs. Unfortunately, sometimes it is not possible to reach agreement about property and financial matters. This might be because the other person refuses to negotiate, takes an unreasonable position or threatens to destroy or dispose of assets. In those situations, Family Court proceedings may be necessary. We have the skills and experience to represent you in the Family Court and act decisively and assertively on your behalf.  

We can also provide family law guidance and advice on these related issues:

• Asset Protection: Financial Agreements (‘pre-nuptial agreements’)
• Spousal Maintenance

For more information email us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it , or call 03 9321 9771 to make an appointment with one of our experienced family lawyers.