Property Settlements
What is the Process?
During our first meeting with you, we will ask you about your assets, liabilities and superannuation benefits. One of the first steps in the property settlement process is to identify and quantify the pool of assets to be divided, referred to as the Net Property Pool or Balance Sheet.
Where necessary, we can work closely with your financial adviser or accountant to determine the best financial outcome for you. Taxation advice in some matters is extremely important before you agree on your property settlement and/or sign any documents formalising your agreement.
It is also important for you to understand the pre-action procedure requirements that apply in financial matters. For example, your financial disclosure obligations and the requirement to genuinely try to resolve your dispute, whether through solicitor negotiation or mediation.
Property settlement matters involve an assessment of the facts of each case and applying them to the law as it stands at the relevant time. The Net Property Pool is calculated on current figures and not values at the date of separation. The obligation for financial disclosure continues until the matter ends.
Family law property matters are a grey area of law. It is not black and white. The Court has a wide discretion and our family lawyers provide advice on a range of possible outcomes.
Resolution Focus
From the outset we will encourage you to remain resolution focussed as opposed to litigation focussed. Our team of family lawyers will provide alternatives to litigation and encourage a resolution using other methods, such as solicitor assisted negotiation, or through the parties themselves, private mediation or round table conference. In some matters, a collaborative process may be suitable. Where litigation is required, our lawyers will guide you through the various steps involved, draft your Court documents, provide cost estimates at each stage and attend Court events with you.
Documenting Your Agreement
When you have reached an agreement about your property settlement, whether you have reached that agreement with your former partner directly or whether our family lawyers have assisted you in reaching an agreement, it is important to ensure that the agreement is formalised in a legally binding document. This is where our family lawyers can still add significant value even if you and your former spouse are amicable.
Property settlement agreements can be formalised in one of two ways:
Consent Orders; or
Financial Agreement.
Consent Orders
When you reach an agreement about your property settlement, asking the Court to approve your agreement by way of an order is an option. There are two documents required for the Court to make the Consent Order:
An Application for Consent Orders. This document outlines the Net Property Pool and other financial information. For example, your and your former spouse’s income, the amount of child support paid (if relevant) and the effect of the agreed division of the Net Property Pool. It also provides a summary of contributions and future financial circumstances. It is the only document that the Court is provided with that allows them to consider the relevant facts and be satisfied that the agreement reached is just and equitable in the circumstances of your matter.
Minute of Consent Order. This outlines the terms of your agreement. If a superannuation split or transfer of property to one spouse is included in your agreement, it is important that you obtain legal advice about the draft terms of the Minute.
These documents are then filed with the Court online via the Commonwealth Courts Portal. It is not necessary for the parties to attend Court however there is a filing fee payable to the Court at the time of filing the documents in the amount of $215 (current as at 02.07.2026).
The Registrar will then consider the proposed Consent Orders within 4 to 6 weeks. If the Consent Orders are approved, they will issue online from the Court.
Financial Agreements
The Family Law Act 1975 allows spouses to enter into Financial Agreements to formalise your property settlement. A Financial Agreement is not filed with the Court therefore a Registrar will not consider whether the terms are ‘just and equitable’ in your unique circumstances.
A Financial Agreement must strictly comply with certain requirements outlined in the Family Law Act 1975. This includes that each party to the Financial Agreement must receive independent legal advice prior to entering into the agreement. The solicitor who they obtain independent legal advice from will then sign a certificate attached to the agreement confirming that they have provided the required legal advice pursuant to the Family Law Act 1975.
A Financial Agreement is unable to be prepared and formalised without family lawyer intervention.