When a couple separates, they need to sort out their finances and property. A financial and property settlement can be reached by agreement, or it can be determined by the court. Couples can seek a financial and property settlement after separation when they are legally married or in a de facto relationship.
There is no time limit on when you can apply for a financial and property settlement, but it is recommended that you do so as soon as possible after separation. The court takes into account several factors when deciding on a settlement, including the length of the relationship, the parties’ contributions, and their future needs.
It is important to seek legal advice when seeking a financial and property settlement after separation. A lawyer can help you understand your rights and obligations, assist you in negotiating a settlement, and represent you in court if necessary.
Geelong Legal has a team of experienced family lawyers who can assist you with your financial and property settlement. We can help you negotiate a fair settlement with your former partner, draft a binding financial agreement, or represent you in court.