A financial order is a set of orders made by the Federal Circuit Court or Family Court relating to the division of property, child support (in certain circumstances), and payment for spousal or de facto partner maintenance.

Pre-action procedures in property and financial matters.

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Before you file an application with the court seeking property and financial orders, there is a requirement that the parties follow pre-action procedures, which includes attending dispute resolution.

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Time limitation to file an application for property and financial orders

An application can be filed anytime after separation but should be filed within 12 months of divorce or 2 years following the date of separation for a de facto relationship. If there is an agreement for the division of property, this can be finalised by an application for consent orders. An application for consent orders is more expeditious and less expensive than disputed and contentious litigation in court.

 

However, if no agreement is able to be reached, a party can commence proceedings by filing an initiating application in the Federal Circuit Court of Australia or the Family Court of Australia to request orders to be made.

 

The Family Law Act 1975 (Cth) sets out the general principles the court considers when deciding a financial dispute after the breakdown of a marriage or de facto relationship. These general principles are the same, regardless of whether the parties were in a marriage or a de facto relationship.

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The way your assets and debts will be shared will depend on the individual circumstances of your family. It is important to note that each family law property case is different and the outcome is likely to be different from others you may have heard about.

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The process that the court determines a financial dispute involves a four step process. In considering what order (if any) should be made for property settlement proceedings, the court is required to take into account the following:

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1. To determine the asset pool

2. The contributions of the parties

3. Future needs

4. Just and equitable.

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Wherever possible, we seek to offer a range of fixed fees for family law property / financial settlement matters. This fixed fee arrangements is based on simple matters, not involving lengthy negotiations. In the event that fixed fees are not appropriate for your matter, we will let you know in advance. You should seek legal advice when considering which approach is best for you. Contact E-LAW Legal on 1300 210 599 or send an email to admin@elawlegal.com.au