Apr 10, 2016
By now, you probably know that a property settlement is simply an arrangement intended to divide property between two parties who have separated so as to finalise their economic relationship. However, you may not know that there are actually two paths to property settlement; negotiation or trial.
Negotiation
The majority of family law property settlements are negotiated and settled outside court with the assistance of a lawyer. The negotiation pathway requires parties to propose and counter-propose settlement offers until they reach a place of agreement. Negotiations are always a matter of compromise and may require some accommodations to be made in light of this. However, they are also cheaper, quicker and less emotionally distressing than going to trial. Although this may seem like a difficult process, it often produces a better outcome on the whole for both parties.
Going to trial
Contrary to popular media, going to trial is actually the path less travelled. And for good reason too! Many people do not realise there are other ways to reach a property settlement until they speak to a lawyer. The fact of the matter is that the court does not want to hear your matter until you have tried to resolve it through negotiations. Consent Orders exist for this very reason. Going to trial will cost you more time, money and emotional distress than a negotiated settlement. If every case went to trial, it would take years to resolve a simple matter! Moreover, a negotiated settlement is required by law to take the same factors into account that a judge would consider if you go to trial.
The bottom line…
In Family Law property settlements, the path less travelled is not the path to take. Negotiated settlements afford parties more flexibility to devise a plan which reflects their respective needs whilst also saving money on court fees.
To find out more, access our online resources below or contact us at 9688 6023.
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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