Following the breakdown of a marriage or de facto relationship, dividing up property and having certainty around your financial future is important to both parties and a vital step in helping parties move on with your life.
While some financial settlements can be straight forward, the division of property and other assets can be extremely complex.
It is important in financial matters for you to seek prompt, practical and professional legal advice so you can make informed decisions about your future.
We can put your mind at ease by advising you on what entitlements you can likely expect, and help you try and achieve an appropriate financial settlement quickly and efficiently. We can assist at all stages of financial matters.
Following an agreement, we will advise you on the most appropriate and cost-effective next steps to formalise matters and ensure financial security.
Where an agreement for property division has been reached we can advise you on the most appropriate and cost effective way to formalize your agreement. This may be through consent orders in the Family Court of Western Australia or with a binding financial agreement.
Financial settlements are now recognized and can be enforceable in the Family Court of Western Australia.
We offer fixed fees for Binding Financial Agreements. Our fixed fees include advice and certificate for preparation of Binding Financial Agreement are from $2,800.00 exc GST. Our fees for reviewing a Binding Financial Agreement already prepared are from $1,500.00 exc GST.
Should you be unable to reach a resolution, we can also assist in commencing court proceedings and representing you throughout court proceedings, up to and including Trial.
We provide top tier services and top tier experience at substantially better rates to those of our competitors and we provide fixed fee costs wherever possible for all of our matters.
In an attempt to expedite matters where a property pool is relatively small, the Federal Circuit Court of Australia introduced Practice Direction No. 2 of 2020: Family Law (Priority Property Pools under $500,000) Financial Cases (‘PPP500’).
The purpose of the practice direction is to expedite cases and provide efficient and timely resolution where the net asset pool is under, or thought to be under, $500,000. The aim of the PPP500 program is to provide a simplified way of resolving property disputes which will minimise legal costs, and best preserve the parties’ assets. The purpose is to achieve a just, efficient and timely resolution of PPP500 cases, at a cost to the parties that is reasonable and proportionate in the circumstances of the case.
If the property matter involves a total net asset pool (excluding superannuation) of $500,000 or less, and there are no entities that might require expert valuation reports and no issues of complexity or parenting orders, the case is likely to be classified as a PPP500.
Each party to the proceedings are required to have complied with pre-action procedures before the Court proceedings are initiated. A simplified Form 13 Financial Statement and Affidavit may be used to commence proceedings.
Case management of a PPP500 case involves a Registrar assisting separating couples to reach an agreement in the shortest time possible. This is done through Orders made in Chambers before the first court date to ensure parties have complied with their pre-action procedures, and an extended Conciliation Conference listed soon after the first return date. If the matter does not settle prior to, or at the conference, it will then be expedited to Trial before a short-form Judge-managed list applying procedurally simpler processes to determine matters.
Benefits of the PPP500 include reduced delays and fees, opportunities for parties to discuss and take ownership of dispute resolution planning, opportunities for settlement at an early stage and elimination of unnecessary Court appearances.
