So far, we’ve addressed two very important questions in regards to family law property settlements: what is a family law property settlement and why do you need one? There is one more important question that needs to be answered before delving into the actual property settlement process; WHEN do you need a property settlement?
Usually, property settlements arise when a married or de facto couple separates. For married couples, divorce may also be a precursor to a property settlement but the two processes do not need to happen consecutively.
Separation
According to the law…well, actually, the law does not give us a strict definition of separation. For more information on why that is the case, visit our ‘Am I Separated?’ blog post. Suffice it to say that for the purposes of a property settlement, separation simply refers to the breakdown of a relationship. This will look different for every person – the law even accounts for parties who are separated but living under the same roof! However, while it may have been a long and gradual process, your lawyer will need a date of separation. So consider this date before your first meeting.
Divorce
Unlike separation, divorce has much clearer requirements under law. There are four legal requirements to a divorce:
You must have (1) a marriage, (2) which is broken down irretrievably, (3) as evidenced by 12 months separation. Finally, there must be (4) no likelihood of resuming relationship and cohabitation.
You may wish to get a divorce before seeking a property settlement. We recommend pursuing the two concurrently rather than consecutively because it is usually best to get a property settlement sorted as promptly as possible.
In short…
If you are looking for a family law property settlement, separation is usually the precursor. If you think you and your partner are separated, now is the time to seek out a property settlement. Access our online resources below or contact us at 9688 6023 to find out more.
Download our Family Law Property Settlement Infosheet
This article is provided to the reader for general information. It is not legal advice.This article was written by Andrea Spencer & Emily Graham and edited by James Frank.
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