gordon lawyers logo

Agreement Without Court

Division of Assets and Debts

Nobody wants to go to Court.  It’s expensive, stressful and can take a long time, are a few of the reasons to avoid court action if possible.

A legally binding agreement can be obtained without going to Court.

This is possible with what is called Consent Orders.

Steps to Agreement - Division of Assets & Debts

While Gordon Lawyers adapt to the needs of each case, for a property settlment there are standard steps to reach an agreement.

Property Settlement - is what lawyers call the division of a former couple's assets and debts. It includes all assets not just real estate.

STEP 1

Information and documents

Information and Documents

Each spouse provides information and documents about their income, assets, debts and resources.

It makes sense that each person needs to know what there is, to work out how it is to be divided.

STEP 2

Valuations

Valuations

It is important to know what the main assets are worth. It is often the most important issue impacting what each person receives.

It is important that valuations are obtained correctly, to avoid additional complications.

STEP 3

Negotiations

Negotiations

When the needed information is to hand, then there are negotiations to reach an agreement.
- The parties may reach an agreement between themselves.
- The solicitors can negotiate an agreement.
- Mediation is also an option.

STEP 4

The Agreement

The Agreement

When an agreement is reached, it is written up in the documents needed for consent orders.

No one needs to go to Court.
Once approved, the agreement is legally binding, giving security and certainty.

Risks without a Legal Agreement

Without a legally binding agreement there are significant risks.

01

Risk of a Claim

A claim can still be made in the future. If it is, it will include all of the assets you both have at the time, not just what you both had at separation. This includes super, inheritances, debt increases, everything. A spousal maintenance claim could be made.
02

Protect against a change of mind

Without Consent Orders the ex-spouse can change their mind. A party may not get what they are expecting.
03

Loss of Entitlements

Without a legally binding agreement, significant family law entitlements may be lost. There are time limits. Also, if either spouse dies then all Family Law rights are lost.

Role of a Solicitor

A solicitor normally carries out each of the steps needed, in consultation with their client.

One of the most important tasks is drafting the agreement. If not done correctly it can cause more problems than it fixes.

A common question is “Where do I stand?”. To work out what is fair, legal advice is vital.  The Family Law doesn’t not work the way many think it does.

Frequently Asked Questions  (PROPERTY SETTLEMENT)