Consent Orders & Settlements
To formalise your property settlement, you can either enter into Consent Orders, or a Binding Financial Agreement.
To formalise your parenting agreement, you can either enter into Consent Orders, or a Parenting plan.
You can formalise your property and children's agreement in the one Application for Consent Orders, or two separate Applications.
This is generally the preferred method of formally settling your affairs.
The benefits include:
- The Agreement is reviewed by the Court, and if approved, are made into Orders of the Court.
- Orders of the Court have enforcement mechanisms conferred on them pursuant to the Family Law Act;
- You can finalise both property and children's matters in one document, which often leads to significant costs savings;
- The other party is not forced to obtain Independent Legal Advice if they choose not to do so.
- While we can prepare your Application quickly, we cannot control how long the Court may take to make the Orders. It is not uncommon for the Court to take two months to make the Orders sought.
While Independent Legal Advice is not obligatory, we do encourage the other party to obtain Independent Legal Advice. When both parties have been independently advised, the agreement is less vulnerable to attack in the future.
It is a requirement that Consent Orders are just and equitable.
Binding Financial Agreements
Binding financial Agreements (BFA) can be entered into at any time on your relationship spectrum. Before you enter into a marriage, or de facto relationship, during said relationship or marriage, or post separation.
Some important features of a BFA include:
- Strict compliance with the legislation is required in order to achieve a BFA that is actually binding.
- Both parties must obtain Independent Legal Advice before signing the Agreement.
- Once the Agreement is signed, it is enforceable. There is no requirement for the Agreement to be filed with, or reviewed by the Courts.
A Parenting plan is a more informal way of recording your parenting agreement. It is not enforceable in the way that Orders are, however the Agreement may become an important piece of evidence in the event that either party departs from the Agreement.
Parenting plans are generally recommended for parties who get along reasonably well, and just require some structure for their future parenting plans.
If you have any questions, or if you would like to make an appointment, please:-