Property and financial matters

Property settlements

Our lawyers are experienced in property settlements, which involve dividing real estate, shareholdings, businesses, vehicles and other assets after separation or divorce. More complex settlements may involve corporate entities and family trusts. Where possible, we seek a negotiated solution to avoid the additional cost and stress associated with court proceedings. Child support, spousal maintenance and superannuation may be included in the overall financial settlement.

Spousal maintenance

Following a separation or divorce, one member of the couple may need to financially support the other for a defined period. This is called spousal maintenance (or “alimony” overseas), and it's a highly technical field of family law. A range of factors are considered when determining the amount and duration of spousal maintenance. Learn more in our article, Am I entitled to spousal maintenance?

We assist individuals seeking spousal maintenance, as well as those opposing an order of spousal maintenance. Our lawyers’ experience in this area of law means we can provide you with guidance on what level of maintenance (if any) would be reasonable in your circumstances.

Child support

Parents in Australia have a legal obligation to financially support their children. In most cases, this duty continues until the child turns 18.

This area of family law is constantly evolving. Our child support lawyers provide specialist advice to help separated parents achieve positive outcomes for themselves and their children.

Our expertise includes:

• negotiating and drafting private child support agreements
• liaising with government agencies in New South Wales, Queensland and Victoria that are responsible for the collection of child support
• advice on the child support assessment processes
• representation during court proceedings

Superannuation

Superannuation is usually considered an asset, like real estate and vehicles during property settlements. Our team of experienced family and relationship lawyers can:

• advise on the advantages and disadvantages of splitting your superannuation or receiving an entitlement
• liaise with the trustees of your superannuation fund
• draft court orders and agreements relating to a superannuation split
• address issues arising from self-managed superannuation funds

Taxation considerations

The way assets are divided can have significant tax implications, particularly when structures like family trusts, companies and self-managed superannuation funds are involved. This adds a layer of complexity and should be carefully considered when structuring a property settlement.

Our family lawyers specialise in complex property and financial matters and work with skilled financial advisors to minimise exposure to unnecessary tax.

Frequently asked questions

What is a binding financial agreement?

Binding financial agreements are available to married couples as well as those in a de facto relationship, and can be made before or during a relationship, or after separation. Binding financial agreements provide certainty about how your property will be divided following separation, allowing you to save considerable money in legal fees and time, with no need to pursue litigation in the court at the end of the relationship.

Binding financial agreements are highly technical, detailed documents and, to be binding, must be drafted in accordance with Australia’s strict legal framework. We can help you determine whether a financial agreement is right for your circumstances, as well as record and document the most appropriate terms of the agreement.

I want to protect my assets from a future relationship breakdown. How can I do that?

Under Australian law, the only means of protecting your assets from a potential legal claim by an ex-partner is by entering into a binding financial agreement (BFA), also known as a "pre-nup". A BFA determines from the outset how your respective assets will be divided, in the unfortunate event of a relationship breakdown, instead of a Court determining the division of assets.

Each party to a BFA needs to get independent legal advice. It is important to start this process as early as possible, so each party can properly consider their position and their lawyer's advice regarding the agreement.

I don't know what assets or liabilities my partner has. Can you help me?

Yes. Your former partner has an ongoing duty to provide full and frank financial disclosure with respect to their financial situation until such time as your property matter is resolved. In the event that your former partner is not forthcoming with respect to their financial situation, the Family Court and Federal Circuit of Australia has a wide range of powers to enforce the disclosure. If you have concerns about disclosure or the movement of assets, please do not delay in contacting us for assistance.

What is the difference between a divorce and a property settlement?

A property settlement formalises the division of a couple's assets and liabilities. This can be set out in court orders or a financial agreement. A divorce order marks the official dissolution of a couple's marriage.

View more commonly asked questions about the legal aspects of family and relationship law in Australia here.