It is important that after you separate, or before if you can, gather together information about your financial position including:
- Bank statements or bank account details
- Tax returns
- Property valuations
- Mortgage statements
- Share statements
- Superannuation information
Having this information to give to your lawyer will make sure that you get accurate advice about what you may be entitled to in a property settlement. Maddens Lawyers can then negotiate on your behalf and help you come up with a fair and reasonable division of the assets of the relationship.
Finalise all financial matters
It is a good idea to try and finalise all financial matters between you and your former partner as soon as you have decided that the separation is permanent. This is particularly important because the law takes into consideration assets that are accumulated by the parties after separation. Any assets that you acquire after separation may be included in the asset pool to be divided between you and your ex-partner.
Once you reach an agreement about how your property should be divided, Maddens Lawyers will help you prepare a Binding Financial Agreement or Consent Orders to make sure the agreement is legally enforceable.
Time limits apply to seeking a property settlement after separation. These time limits are different for defacto and married couples. It is important to get legal advice about your specific situation to make sure you have resolved your property settlement within the relevant time limit.
If you are unable to reach an agreement, Maddens Lawyers will guide you through the Court process and prepare the documents needed to allow a Judge to decide how your assets should be divided.