Most people want their divorce or separation to stay as amicable as possible and they hope to settle their matter without involving lawyers. We completely understand!
It is our hope for our clients that they will be able to move on with their life as soon as possible, with the best possible outcome. Staying amicable is a big part of this.
When parties are able to amicably reach an agreement, they often divide property and then move on without considering the need to Consent Orders or a Binding Financial Agreement (BFA). They feel as though they don’t need a legally binding document because they are safe as they managed to reach an amicable agreement.
But this is not the case! You and your ex-partner are still considered financially one until you have legally binding document or a certain time period have expired.
If you do not enter into Consent Orders or a BFA, you are not protected and your ex-partner can in the future bring an Initiating Application to the Court, for a period of time after separation and divorce. This means if you increase the value of your property pool or come into money, you may be required to pay some out to your ex-partner.
This is scary!
We often help people when they thought that they had already settled, but they had failed to finalise their matter with legally binding documentation.
This is very frustrating for clients. Don’t let this happen to you!
If you want to know more, have any questions or you are not sure where to start, we are happy to help you with our FREE initial appointment in our Brisbane or Gold Coast locations.
You can book here or phone our office on 1300 225 393.