Property Settlement Lawyers
Expert Property Settlement Lawyers
Burke Mead Lawyers are expert property settlement lawyers based in Newcastle, experienced in assisting clients with a range of family law matters.
Our family-focused legal services are delivered by a team of expert family lawyers, whose experience with family court proceedings and knowledge of property settlements will assist our clients in negotiating the most beneficial resolution.
Reaching a property settlement agreement can be a complex process that has to take into considerations the circumstances of both parties, with the goal of reaching an outcome that is fair and equitable.
For practical legal advice, contact Burke Mead Lawyers about booking a property settlement consultation.
The Benefits of Legal Representation for Property Settlement
Do you really need a lawyer for a property settlement? The short answer is yes.
Legal representation in family law matters, such as property settlement agreements, is extremely beneficial. Our team of family lawyers specialise in helping to resolve your family law disputes, and Burke Mead Lawyers are some of the top family lawyers in Newcastle, Central Coast and Hunter Region.
Managing the division of assets following a divorce or separation is difficult, even in amicable situations. We pride ourselves on guiding our clients through this difficult time with clarity and sensitivity, focusing on the needs of your family moving forward.
Our objective is to ensure a beneficial resolution for your family, that minimises the financial and emotional costs often associated with these types of legal proceedings.
With experienced and caring legal representation, our team can assist you in achieving a fair property settlement. Throughout the property settlement process, we’ll assist you in negotiating the division of a range of assets, including home and contents, family trusts and SMSF, and assets related to businesses.
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Property Settlement Lawyers FAQs
In Australia, property settlement covers the division of all forms of property, including all assets, Superannuation and liabilities, following a separation or divorce. The law regulating property division, or property settlement, is contained in the Family Law Act 1975 (Cth) and involves assessing the contributions of each party (including financial and non-financial contributions), current financial situation, and future needs.
How long a property settlement will take depends on a wide variety of factors. If both parties are agreeable and the division is straightforward, then an agreement can be drafted in a few weeks. If the parties are not able to agree or the assets involved make the negotiation of division more complex, then mediation can take months and court proceedings can take years in some cases.
After separation, you can pursue a property settlement in line with the time limits set out by the Family Court. If you have finalised a divorce, you must apply for a property settlement within 12 months of the finalised date, while a de-facto couple must apply within two years of separation.
The outcome of a property settlement depends on the practical and economic circumstances of each party; as a result, the average property settlement agreement results in a 55-65% division in favour of the “economically weaker” spouse (before payment of legal fees).
To calculate a property settlement, your legal team will need to know the following:
- Total value of net assets owned by both parties
- Net asset pool contributions, including non-financial contributions, i.e. homemaking or parenting
- Understand the future needs of both partners and any dependents
- Prioritise a fair and equitable outcome for all involved
Generally, each party will pay their own legal costs when it comes to family law matters, such as property settlements. However, the Courts do have the power to order one party to cover the legal cost of the other party.
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