May 05, 2016
Have you ever embarked on a home improvement project only to end up with a flooded house without a plumber in sight? We’ve all tried to take a leaf out of Bob the Builder’s book only to end up with less than desirable outcome and a bruised ego. However, there are some things in life you do not want to DIY. A property settlement is one of those things. Whilst a DIY Property Settlement might sound appealing, do not underestimate the perils and pitfalls of failing to seek legal advice.
Pitfall #1: Missing the Big Picture
Managing your own property settlement is akin to flying by the seat of your pants; as each new problem arises, you will need to deal with it on the fly. However, property settlements are just one element of Family Law which, in turn, is just one area of the law. The law is intimately interrelated. Your property settlement may have ramifications for your business or superannuation or estate planning. Do you know when applications must be sent to the court and in which circumstances? When you pay for a lawyer, you are paying for their expertise, experience and ability to see this big picture. If you do-it-yourself, you risk things slipping through the gaps.
Pitfall #2: Deadlines are crucial!
In any occupation, deadlines are crucial. In Family Law, deadlines can be the life and death of your matter. The Family Court system is complex and gives a whole new meaning to paperwork. Missing a signature in one place or submitting an application a few days late can drastically affect your matter.
Pitfall #3: Distance makes the head think clearer
The fact of the matter is that all Family Law cases are deeply personal. Whether relating to family or children or spouses, the law gets inevitably mixed up with human emotion and heartbreak. However, during a property settlement, it is vital that you are clear-headed and communicative (read our infosheet on Costs Orders to find out why). DIY property settlements are dangerous because you do not have the independent guidance provided by a lawyer who is solely but objectively looking out for your interests. Their distance ensures they are able to think clearer and provide a better outcome for you.
The lesson learnt…
The lesson to be learnt here is that DIY Property Settlements are a dangerous path to take. The whole point of a property settlement is to finalise the economic relationship between you and your ex-partner so you can have certainty and security moving forward. If you try to do-it-yourself, you risk jeopardising this certainty and may open yourself up to future proceedings.
To find out more about family law, family law lawyers and property settlement, please contact James Frank for further advice at jfrank@franklegal.com.au or 02 9688 6023.
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