02 4324 7699

Property Settlement
Lawyers

Central Coast and Gosford

Secure your future with Brazel Moore Lawyers

Property settlements can be one of the most challenging aspects of separation or divorce. Determining how assets, finances and property should be divided often involves complex legal, emotional and financial considerations.

At Brazel Moore Lawyers, our experienced Family Law Property Settlement Lawyers provide expert guidance to help you reach fair, practical and legally binding outcomes – whether through negotiation, mediation or court proceedings.

We are here to help protect your interests and help you move forward with confidence.

How Is Property Divided After Separation?

Under the Family Law Act 1975, separating couples – whether married or in a de facto relationship – must follow a structured process to achieve a fair division of property.

It is not always as simple as a 50/50 division of property. Each situation is unique, and the law takes a wide range of factors into account. Our legal team will ensure you understand your rights, entitlements and obligations every step of the way.

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The Five-Step Process in Property Settlements

Family lawyers use a five-step framework to determine how property should be divided after a separation:

Step 1: Identify all the assets and liabilities of the parties, and determine their values.

Step 2: Establish whether it is ‘just and equitable’ for there to be a property adjustment.

Step 3: Assess the contributions of each party at the commencement of and during the relationship, and following separation. This includes financial contributions (e.g. income, inheritances), non-financial contributions (e.g. renovations) and parenting/homemaker contributions.

Step 4: Consider the current and future circumstances of the parties.

Step 5: Ensure the outcome is just and equitable in all circumstances.

While this process may seem straightforward, expert legal advice is essential to ensure your rights are protected.

Understanding Property Settlements

Regardless of whether Court proceedings have started, both parties must provide full and frank disclosure of their financial circumstances. This includes documents such as:

  • bank statements;
  • tax returns and payslips;
  • superannuation balances;
  • credit card and loan statements;
  • company or trust financials; and
  • shareholdings and property titles.

Providing this information promptly is crucial to progressing your matter efficiently.

The Family Act 1975 recognises three types of contributions:

  1. Financial contributions are contributions of money made towards the acquisition, conservation and improvement of any property owned by a couple either jointly or separately. These contributions can be made directly or indirectly.

Examples of financial contributions include: a party’s income (e.g. wage/salary), savings, inheritance, lottery/gambling winnings, gifts from family members, loan repayment, payment of household expenses etc.

  1. Non-financial contribution are efforts or acts carried out by the parties towards the acquisition, conservation and improvement of any property owned by a couple either jointly or separately.

Examples of non-financial contributions include: renovations to a property, maintenance of a house or motor vehicle, gardening etc.

  1. Contributions made by a party to the welfare of the family which include a party’s role as homemaker and parent.

Each type of contribution is carefully considered when determining what each party may be entitled to.

The Court must consider the future needs of each party and any other special circumstances that may require a property settlement adjustment.

These factors may include:

  • Impact of family violence on a party’s ability to earn or recover financially
  • The age and state of health of each party
  • Any disparity of income, earning capacity, property and financial resources
  • Whether a party has care of a child and needs to provide appropriate housing for the child
  • Access to financial support, including child support, pensions or Centrelink
  • Re-partnering or financial dependents

You can formalise your agreement in one of two ways:

  1. Consent Orders: An Application for Consent Orders will be assessed by the Court and Orders made will be binding on the parties.
  2. Financial Agreement: is a private contract between parties which sets out how they will divide their property. The Agreement is not filed with the Court, but there are very stringent requirements that must be followed in order for a Financial Agreement to be binding and enforceable. Both parties must receive independent legal advice.

If you cannot reach an agreement, several steps must be taken before you can commence Court proceedings:

  1. Invite the other party to Family Dispute Resolution (FDR).
  2. Attend the agreed dispute resolution service and receive a Certificate of Dispute Resolution.
  3. If FDR is unsuccessful, issue a formal Notice of Intention to Commence Proceedings, which includes:
  • a summary of the issues in dispute;
  • the orders you want made;
  • a genuine offer to resolve the issues, and
  • a timeframe of at least 14 days for the other party to respond.
  1. Ensure you have complied with your duty of full and frank financial disclosure.

There are strict deadlines for filing property settlement applications:

Married couple – 12 months from the date of your Divorce Order.

De facto couple – 2 years from the date of your separation.

If this time has passed, you will need the Court’s permission to file a late application. Leave will only be grated if:

  1. Both parties consent; or
  2. Hardship would occur if the application is not allowed.

Getting professional legal advice early can make all the difference.

Whether you are in the early stages of separation or need help resolving a long-standing property matter, Brazel Moore Lawyers are here to support you.