Wanting to divide your property, finances and other assets after separating? Unsure what you’re legally entitled to or how to proceed? Our experienced family lawyers can guide you through the financial separation process so you don’t make any mistakes & achieve a fair outcome that you won’t regret in the future. Take advantage of our complimentary, no-obligation call to talk through your situation, explore your options, and work out the best next steps.
Financial separation is a process of dividing property and finances from your spouse or partner. This can be done by mutual financial agreement or by way of consent orders in the Federal Circuit and Family Court of Australia. The goal of financial separation through a financial agreement or consent orders is to ensure both parties’ financial interests are protected and clearly defined.
If you are going through a contested divorce, it may not be possible for the two of you to agree on how to divide your assets. In these cases, you may need to file an Application with Federal Circuit and Family Court of Australia, where a decision will be made on your behalf as to what happens with your financial assets.
In Australia, separation and divorce are two separate legal processes. While both end a relationship or marriage, separation is different from divorce in that it does not require a formal procedure. Separation is a way for couples to severe financial ties between each other. If you want to get divorced, you need to submit a divorce application to the Court. It is usually a simple process.
Financial separation is a legal term used to describe the division of joint assets between spouses during a divorce or separation.
Good financial separation lawyers can draft agreements that can protect both parties. In case of contested divorce, a judge decides on the division of the asset pool.
When you separate from your partner, three things need immediate attention: updating your accounts, updating your will, and updating the beneficiary of your superannuation fund.
It’s also essential to keep track of your investment portfolio, as well as any sales of investments or transfers of assets. Additionally, updating your insurance policies, including life, car, and health insurance can be important steps to not overlook.
A legal financial separation agreement is a formal contract that divides the property and assets of a couple who have decided to separate. A legal financial separation agreement is legally binding and enforceable.
It’s important to consult with a family law expert before signing a legal financial separation agreement. This is because once you’ve signed the agreement, it’s difficult to undo or modify the terms without the consent of both parties or a court order.
In some cases, parties may agree to a financial separation agreement without fully understanding the legal implications of the terms. For example, if one party agrees to pay child support, they may assume that they are agreeing to pay it forever. However, if circumstances change and the parties reconcile or the children reach a certain age, the child support obligation may end or be modified. It’s important to work with an experienced family lawyer who can advise you on the legal implications of the agreement and ensure that your rights and interests are protected.
Disagreements over the division of property and assets can be a challenging issue to resolve, and it’s not uncommon for ex-partners to be unable to reach a mutual agreement. In this case, there are several options available to resolve the dispute. You can try mediation, where a neutral third party helps facilitate communication and negotiations between the parties. Another option is to seek the assistance of a collaborative lawyer who can work with both parties to find a solution. If these options do not work, the case may have to be taken to court, where a judge will decide on the division of assets. It’s essential to seek legal advice when faced with this situation to ensure that you understand your rights and obligations under the law.
If you’ve decided that the best thing to do for your wellbeing and that of your children is to file for a divorce, we assist in providing advice so that the financial separation from your spouse is as efficient as possible. These are some of the services we offer:
The first phase of our separation services is to conduct a conflict check to ensure that we haven’t previously advised your former partner. Following this step is a complimentary 15-minute introductory call where we introduce ourselves to you and establish your current situation and what the desired result is. The next phase is the initial consultation, where we go into the details of your case to determine the best way forward regarding property issues and parenting. We then offer advice on how to resolve matters and tailor make a strategy suited to your circumstances.
Throughout your separation journey, we keep you informed of the progress of your case and offer support. The last step is resolution, where ideally, we seek to settle without going to court.
We are a law firm with a team of experienced legal practitioners who specialise in family law matters. Our firm provides legal services for individuals seeking financial separation from their spouses or partners who need professional advice regarding your family law matter.
Our firm has the approval of the professional standards legislation, and our team are members of the scheme.
Owner Bron O’Loan is a #1 Amazon bestseller book publisher of ‘The Splits’, a book that can help parents going through a divorce to support their children through the process.
Our team of experienced family lawyers can provide you with professional advice regarding your financial circumstances.
Contact us for accessible and innovative service in North Sydney, the CBD and Rozelle.
Request Your Complimentary Call
Fill out the form below to speak to request your complimentary call with a family lawyer.
Request Your Complimentary Call
Fill out the form below to speak to request your complimentary call with a family lawyer.
See what our clients have to say about working with O’loan Family Law
Family law can feel confusing and overwhelming. We’ve broken this down to be as simple as possible. This is what the journey looks like ahead. Our simple 6-step process to resolve your matter & allow you to move forward towards a better, happier and more fulfilled life.
Take advantage of our complimentary, no-obligation call to talk through your situation, explore your options, and work out the best next steps.
Book your complimentary call to discuss your situation and find out what to do next.
