Divorce property settlement
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Why choose Orman Solicitors for your property settlement?
How we work with you
Property settlement is distinct from divorce and can begin as soon as separation occurs. At Orman Solicitors we will guide you through understanding and managing the financial aspects of separation, including income, assets, liabilities and superannuation.
We help you with important considerations
We help our Sydney and Wagga Wagga clients consider essential financial matters, such as the division of assets, superannuation, spousal maintenance, and child support to ensure you obtain a fair and comprehensive division of their property and other key assets.
Your advocates by your side
Our experienced team is committed to keeping you informed throughout the process, negotiating for your best interests, and prioritising your needs and priority assets. If Court representation is necessary, we will be by your side.
How long does it take?
The process can take anywhere from a few months to several years, depending on the complexity of the assets and the willingness of both parties to reach an agreement. It is advisable to consult a property settlement lawyer to ensure a fair outcome.
The Property Settlement Process
The property settlement process in New South Wales (NSW) is guided by the Family Law Act 1975 and involves several key steps.
Read our reviews
★ ★ ★ ★ ★ | 5.0 Star Family Law Services in Sydney and Wagga Wagga
★ ★ ★ ★ ★
Mary
★ ★ ★ ★ ★
My experience with Orman solicitors has been truly amazing with there professional team of experts. I could not be happier with the outcome off my family law settlement and would highly recommend Orman solicitors for all your legal matters.
Angela Williams
★ ★ ★ ★ ★
Great, knowledgeable and supportive staff, they were efficient in getting me a great result. The communication was clear and consistent, when I had queries, they were addressed promptly. Could not recommend more.
Lindsay Wilson
★ ★ ★ ★ ★
I’d like to share, my upmost Respect to Ormans Solicitors team members, they had my back, got me through the most difficult times, I was so overwhelmed worrying about everything, would all sort out. I would recommend them out there, they certainly give you the support, comforting, that its all going to be ok. Maggie, and the team are just Amazing. I’d like to Thank, each and every one of them for helping through, with there dedication and outcome certainly was of comfort, Good ending. I was so Happy, I chosen Ormans Solicitors. You are All a Great Team. I will Always be Grateful. Thank you to All of You.
Rose Valenzisi
★ ★ ★ ★ ★
“I cannot thank Maggie and her team enough for the flawless way they handled my matter. I felt that Maggie was always completely invested in my matter and everything from the beautiful office to the team’s amazing service made me feel like family. Their commitment to my matter never ceased to amaze me. I would not hesitate to recommend Orman Solicitors.”
Lisa
★ ★ ★ ★ ★
When I first approached Maggie I was financially destitute and frightened, my settlement was not going well, I had been dropped by another solicitor because they felt that my case was to difficult and time consuming. Maggie helped me to feel at ease she assured me that I everything would be okay and then she and her staff went to work. She helped me to stay strong when I was ready to give up and just take anything to make the whole mess go away and fought for me to get an amount that was acceptable. I highly recommend Maggie and her team they truly do go above and beyond the call to ensure that their clients get the absolute best result possible.
Shimmer Pender
★ ★ ★ ★ ★
Maggie has been my solicitor for a number of years – in all that time, I have found her to be professional, hardworking, honest and respectful. She has shown compassion, empathy and helped my family through the toughest times when we needed it most. I have recommended her to friends and relatives, who have also then gone on to recommend her and her firm.
Helen Gordan
★ ★ ★ ★ ★
Empathy, dedication and passion are three words I would use to describe Maggie Orman and her team. Maggie has been my family lawyer for over 10 years and has guided me through many difficult periods of my life, and ensured I came out the other end a stronger woman and mother. Maggie is rational, compassionate and highly ethical. I felt that she truly cared about me, my family and our wellbeing. Maggie’s skilful advice and counsel achieved an incredibly quick resolution, and kept costs to a minimum. I will continue to use Maggie Orman Solicitors for all my family law requirements and highly recommend her to anyone requiring a family lawyer.
Joan Rached
★ ★ ★ ★ ★
The Barnett family are very thankful to Maggie and the whole team for doing all the groundwork to get our case a great result. We are very happy with their help and wish to give them credit for their hard work to get our matter up and going.
The Barnett Family
CASE STUDY
Property settlement
Our client contacted us to represent her in a property settlement after her relationship breakdown of more than 20 years. The couple had a modest asset property pool including the former matrimonial home, a share portfolio, cars and superannuation. The couple had 2 children together and the ex-partner supported our client through child support payments.
How did we help?
Our initial analysis of the facts suggested the asset split be somewhere between 45-55% in favour of our client. Our client wished to avoid a lengthy settlement and protracted court case. Therefore, we put together a just and equitable offer to achieve a quick settlement.
As the ex-partner provided funds for the mortgage repayments, maintenance and upkeep of the former matrimonial home during separation we took this into consideration in the final settlement offer. At the same time our client was required to pay rent for a lengthy period and set up a new household with furniture and personal items which was also taken into consideration.
As part of the settlement, we successfully negotiated for our client to receive an adjustment in the settlement pool due to a disparity in income earnings.
What was the outcome?
This matter was settled through a proposed offer of settlement before mediation or commencing an application to the court was required. We received 57% of the matrimonial pool for our client and 50% of the superannuation pool.
Family Law matters don’t always need to end in court. This result for our client was achieved through amicable negotiations between the parties. Before commencing court proceedings it’s important to consider things such as:
- The value of your pool – would a drawn-out hearing cost you more time and money than what is available in your asset pool?
- Your prospects of success – would the outcome be better or worse than your proposed offer?
At Orman Solicitors, we’re committed to delivering the highest quality legal advice and services. We pride ourselves on providing reliable, trustworthy services, unmatched legal experience and compassion and empathy in everything we do.
Maggie Orman
Principal
Renata Matyear
Senior Solicitor
Eileen Newcombe
Senior Solicitor
Frequently asked questions about property settlement.
When it comes to divorce, separation, and property settlement agreements, the team at Orman Solicitors are the experts. We’re here to answer all your questions about property settlement.
How is it determined who gets what in a property settlement agreement?
The Court uses a four-step process to determine the best way to divide assets between two people.
- First, each party needs to agree on the assets and the debts.
- Second, both parties will consider the financial and non-financial contributions.
- Third, factors that will affect individuals in the future, such as income and child custody arrangements, are considered.
- Fourth, the outcome is assessed to ensure it is both just and equitable.
How does property settlement become legally binding?
To ensure the property settlement is adhered to, your property settlement lawyer can either file the terms with the Federal Court and Family Court of Australia (FCFCOA) or draw up a binding financial agreement. We strongly recommend obtaining Orders from the FCFCOA.
What assets are considered in property settlements?
Property may include:
- Bank accounts,
- Family trusts,
- Investments,
- Inheritances,
- Vehicles,
- The family home and investment properties,
- Insurance policies,
- Superannuation,
- Shares,
- Businesses,
- Jewellery,
- Debts including mortgages, loans, credit cards, and personal debts,
- Cash.
How long do I have to commence property proceedings?
If you are married and not yet divorced, there is no restriction on time limits. However, if your divorce is final, you have 12 months from the date of finalisation of your Divorce to commence property settlement proceedings.
Can I still apply to the Court for property orders if I was in a de facto relationship?
Yes. The Family Law Act 1975 contains mirror provisions that apply to both married and de facto couples.
What is property settlement?
Property settlement is the formal process of dividing assets, liabilities, and financial resources between parties after separation or divorce. This can include real estate, vehicles, superannuation, debts, and personal items.
Do I need a divorce before starting a property settlement?
No, you can begin property settlement negotiations immediately after separation. However, once a divorce is granted, you have 12 months to formalise the property settlement, either through mutual agreement or by Court order.
Is property always divided equally?
No, property is not automatically split 50/50. The Court aims for a fair outcome, considering contributions and future needs. Adjustments may be made based on factors like income disparity, childcare responsibilities and health issues.
What if I cannot reach an agreement with my ex-partner?
If negotiation or mediation fails, you can apply to the Court for a property settlement. The Court will then make orders based on the four-step process to ensure a fair distribution.
How is superannuation treated in property settlements?
Superannuation is treated as part of the property pool and can be split between parties. It may require valuation and adjustments to achieve a fair settlement.
Are future inheritances included in property settlements?
While future inheritances are not typically part of the property pool, they can be considered as a financial resource, influencing the distribution of other assets.
Who is responsible for paying the mortgage after separation?
If a mortgage is in both names, both parties are legally responsible for mortgage repayments. If you can’t continue paying mortgage payments, have a chat with the Orman Solicitors team, and we’ll help you work out your next steps.
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