For some couples, separation is the easy part. Reaching an agreement about their children and property settlement, however, can be a whole other ball game. The good news is that making that agreement legally binding doesn’t have to be difficult when you have the right tools and know how.
If, on the other hand, you choose to throw caution to the wind and not make your agreement legally binding, you may leave yourself exposed to major risks. We’ve all heard of the separated guy who won lotto and thought he was on top of the world, only to face legal action from his ex-spouse who he chose not to have a legally binding property settlement with. Let’s face it, no one wants to be in that position.
One of the best ways to make your settlement agreement final and legally binding is to enter Consent Orders with your former partner.
A consent order is a written agreement, much like a contract, between you and your former partner that is approved by the Family Court of Australia. The agreement must be consented to by all parties. This means you can’t simply apply for Consent Orders without your former partner’s consent and authorisation, and vice versa.
In order to apply for Consent Orders, you and your former partner must complete an Application for Consent Orders and draft the Consent Minutes of Order.
The Application for Consent Orders requires specific information about both parties, including details about the relationship, income values and disclosure of all of the assets, liabilities and superannuation. You must also provide information about the proposed division of property and your settlement agreement.
The Consent Minutes of Order, in contrast, details the specific orders you and your former partner would like a Registrar of the Family Court of Australia to make. Contrary to popular belief, you must write these Orders yourself rather the Court doing so for you.
Even with this brief explanation of Consent Orders and the corresponding Application, it is clear that it isn’t always easy to draft your own legal documents. Don’t worry, eDivorce can help.
eDivorce Property Settlement Kits
Whether you are married or de facto, we can assist. Our personalised legal documents can help you to apply to the Court for a binding property settlement without the need for expensive legal fees. Click here to find out more.
We can also help you to divide superannuation as part of your settlement. Click here to find out more.
We hope you enjoyed today’s blog.
The eDivorce team
If you have any questions or comments, we’d love to hear from you. Get in touch here.
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