There are two options for settling financial matters with your partner.
- By agreement – parties come to an agreement themselves, often with assistance from their lawyers but without involving the Family Court. This process usually takes between 3-6 months. About 90% of our clients settle with their partners by agreement.
- Family Court – parties file proceedings with the Family Court. There are several steps in this process in which the parties are encouraged to come to an agreement themselves. If there is no agreement, a defended hearing will take place and the Judge will make a decision. This process takes on average about 12 months. About 10% of our clients settle during the Family Court process, although only 1% will progress to a defended hearing.
We strongly encourage our clients to come to a settlement with their partners by agreement, as it is the most cost effective method and takes the least time. These processes are mainly used to settle relationship property matters but can also include issues around spousal maintenance (financial support). The detailed steps of each process are listed below.
Settling through agreement
Information gatheringOne of the parties instructs their lawyer to write to the other spouse, notifying that they wish to separate and resolve issues of relationship property. Parties gather financial information.Information can be requested of the other party which must be provided. Valuations may be sought. Experts may be used.Letter of adviceBoth of the parties lawyers will provide a letter of advice to their client, which summarises the facts of their case, the strengths and weaknesses of their claims, the options available and the likely outcomes.NegotiationParties negotiate directly with each other or via their lawyers. Negotiations can be carried out at meetings or via e-mail. Parties may wish to have a mediation, which is a meeting facilitated by a mediator who is skilled in helping people to reach an agreement. Mediators are often independent lawyers and both parties would agree on the person selected. The parties’ lawyers may be present during this mediation if the parties request.Draft agreementA draft agreement is reached.AgreementAgreement is signed and certified by the party’s lawyers. It is now binding.
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