Property Settlement after Divorce - Consult your Family Lawyer First!

Going through the process of divorce is very painful and rough. If you have decided to go ahead with the divorce process, it is important to reach an agreement for property settlement. According to the law if a couple is heading for a divorce, then a judicial distribution of property rights is required.

The division of assets, such as car/cars, house/houses, furniture, and land as well as any type of debts like mortgages & credit cards need to be settled before obtaining the divorce certificate. The rules pertaining to the division of property are complex hence, for most types of property settlement, it could be helpful to seek help from family lawyers.

Majority of ethical family lawyers will insist a matter is settled outside of court if at all possible. This way saves both parties time and money. Also, if you decide to reach an agreement without involving the court, then you can be more certain of what each party will receive.

Benefits of a mutual decision for the property:

• The settlement doesn't end rough, thus reducing possible losses/costs.

• Communication improves which is healthy for the future, and

• Most importantly, you reduce the financial/emotional burden on both parties.

If the matter is unable to be settled out of court, then action will be taken. Choosing the courts may leave you uncertain to which way your settlement will go, as all cases are seen by an authorised judicial officer to decide for the two of you. Furthermore, court proceedings can be long and stressful, sometimes taking years for the final decision.

Through this article, we'll learn in brief about the various ways to reaching a property settlement.

Consent Orders: a court-approved written document. Signing the consent order gives your 'Consent' to abide by the terms stated in the agreement. Such orders deal with financial and property matters which include child custody & spouse maintenance, property settlement etc.

Financial agreement: These are legal agreements for couples entering into marriage or de facto relationship. This agreement binds the agreement holders in a financial agreement, should their de facto relationship or marriage breakdown.

If the parties want to reach the arrangement by means of a court, they have to follow a mandatory step of attending a dispute resolution service. Through this service, areas of dispute between a couple are worked upon and if the issues still persist, then they are directed to the court for final decision. Family lawyers play a very major role in shaping up the case for any couple. It is therefore required to take any step after considering their input.

Couples who are in the process of legally breaking their marriage can consult family lawyers for property settlement, child custody, and other divorce-related matters. With decades spent in court, Family Lawyers can guide you through the best course to reach an agreement.