Property Settlement & Finances

The role of the Mediator will help you put your feelings aside and focus on the practicable financial arrangements that need addressing in the short and long term. For example, before reaching an agreement, the Mediator may help you agree on matters such as, who will pay the mortgage.

The Mediator won’t take sides or provide legal advice but can if appropriate, provide you with legal information which will aid your decision making and help you work out what is achievable.

Its’ worth remembering that 85% of cases settle.

If agreement cannot be reached, then you are free to start or continue with solicitor led negotiations or with court proceedings. That is not to say, that mediation cannot be attempted again. Remember – even if a partial agreement is reached, the number of disputed issues are reduced, saving you time and money in the long run.

We will provide you with Heads of Agreement setting out the terms agreed – however, this is not legally binding. As we are mediators and lawyers we are can draft your agreement, into a Consent Order or Binding Financial Agreement should you so choose to do so.

Essentially there are two ways in which to record your property agreement:

• Consent Orders: A consent order is often the preferred method. If the terms of the agreement are just and equitable, the court is more likely than not to approve the consent order.
• Binding Financial Agreement (BFA): A BFA is an agreement between parties to a marriage or de-facto relationship. It records your agreement detailing the agreed division of assets. Unlike a consent order, it is not lodged with the court for approval. Therefore, even if an agreement is not just or equitable, you can still record your agreement and have finality.
• It cannot be used to record arrangements for children or child support issues. Drafting BFA’s, are complicated, time-consuming and must comply with strict requirements of the Family Law Act 1975 to be valid. You must also obtain independent legal advice before signing a BFA.

There are several benefits including:

• Stamp Duty is not payable where there is a property transfer made between a de facto couple or spouse made under a Consent Order or Binding Financial Agreement.
• Provides you with certainty and finality – ensuring that your ex-partner does not make any further claim in the future
• Where there is a superannuation split, the trustee of the superfund will require a Superannuation Agreement, Consent Order of Binding Financial Agreement to implement the terms.

Yes. As family lawyers and mediators we can draft up your agreement and record that in the form that you choose – all at an affordable fixed cost.