NSW Got a Financial and Property Settlement Agreement - What Next?

[Clancy]

Hi,

I finally got a financial and property settlement agreement with my ex. The family law court has a nice looking page on the advantages of coming to an agreement out of court;

If you agree about property and finance - Family Court of Australia

Ok so I am excited and think all I have to do is follow the instructions on what to do next.

No, the links just runs me around in circles here and there, it is about as clear as mud?

 

[sammy01]

Nope - nothing is that easy...

So for a financial agreement to be binding both parties need independent legal advice... Short version is, you need a solicitor's signature... So you can walk into a solicitor's office tell them what you want, they will write it up, send it to the ex.

The ex takes it to a solicitor and they flap around check details etc and if all is in agreement they submit it to the court for consent orders... So it is basically impossible to do a financial settlement without solicitors...

Unless - if no super is swapping over and depending on other major assets, you can just do a hand shake agreement but the problem is it is not legally binding so nothing to stop one of you 'agreeing' then going for a second bite of the cherry...

 

[Clancy]

Ok thanks.

Yeah I know I can also do a 'financial agreement' but it's not quite as legally sound as I would like.

 

[sammy01]

Nope the right term is a financial agreement but it does need solicitors to be a legally binding contract.

 

[Clancy]

Nope the right term is a financial agreement BUT it does need solicitors to be a legally binding contract.

Ahhh, it's a bit confusing but no. I don't think the financial agreement is legally binding, even with the lawyers, until it has been backed up with the consent orders from the court.

 

[sammy01]

Yep - you're right - solicitors need to sign it and so does the register of the court....

 

[Clancy]

Without giving any specific amount, what is an amount within reason for a lawyer to charge to process and get court approval for an agreed property settlement of average complexity?

 

[AllForHer]

Without giving any specific amount, what is an amount within reason for a lawyer to charge to process and get court approval for an agreed property settlement of average complexity?

How long is a piece of string?

Call around for some approximate quotes. If you've got the agreement and just need their signature, you're probably looking at maybe $3,000.

 

[Clancy]

How long is a piece of string?

Call around for some approximate quotes. If you've got the agreement and just need their signature, you're probably looking at maybe $3,000.

Thanks for that, well actually i want to get the agreement approved by the court, so i imagine they have all their own documents that have to be filled out?

 

[sammy01]

what is the asset pool? married or defacto? kids? no kids? kids? how old?
Yes - if you go see a solicitor they will fill in all the court forms and write up the consent orders for the agreement for you to sign and submit to the court.. But it will cost a few grand.