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Property Settlement Lawyers Sunshine Coast

Owning a home is a keystone of wealth…both financial affluence and emotional security.
- Suze Orman

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Property Settlement

At Shanahan Family Law we understand how much time and effort has gone into building and acquiring assets.

Divorce and property settlement can sometimes be complex and confronting. Our property settlement lawyers near me can reduce those barriers by making a detailed assessment of each party’s financial position, and the length of the relationship in terms of contributions both financial as well as non-financial contributions like parenting and homemaking.

Navigating the legal system of dividing property and financial resources can be overwhelming and confusing. Even more so for those unsure where to begin.

Property settlement by agreement

It’s not necessary for a separated couple to go through court proceedings to create a property settlement. In fact, the ideal course of action is for the couple themselves to come to a consensus on how assets will be divided through an agreement covering property matters. 

Property settlement by agreement
Financial Agreement

Financial agreements

While a property settlement can be organised through an informal agreement, this is highly inadvisable, as informal agreements have no legal standing, even if they are set down in a signed and dated written document. Without the force of the law, any disputes that arise in the future will be challenging to resolve. A binding financial, legal agreement, on the other hand, provides a legally enforceable written agreement that can effectively protect the interests of each party.

Consent orders

Consent orders are another option for creating legally binding financial orders. Either spouse can apply to the court to have the financial terms they have agreed on be formalised by law. A consent order works differently to a binding financial agreement. 

A financial agreement doesn’t need to be equitable to both parties. Provided you sought independent legal advice, you are free to enter into even grossly unbalanced financial arrangements. In contrast, a consent order requires that the agreement satisfy the family law act’s ‘just and equitable’ test. 

This requirement for a just and equitable outcome is established in court proceedings through a four-step process.

man holding paper
To make legally binding financial agreements, each party must seek legal advice independently from family law solicitors that inform them of how the agreement will impact their rights and whether it is in their interests to enter into it.

Divorce Property settlement in Family Court

Under the family law act, the court uses a four step process to determine the just and equitable division of property between parties to a divorce:
Divorce Property settlement in Family Court
Identifying all assets and liabilities

Identifying all assets and liabilities

The court must first determine what assets, liabilities and financial resources are to be considered in determining the property division. In essence, a list of everything that you and your former partner own is created. The court does not divide property based on who technically owns the asset. Family law functions differently to commercial law, and both spouses are taken to have a stake in the entire asset pool. The family home, for example, will be considered regardless of whose name the title is in. Assets and liabilities involved in a divorce settlement may include, but is not limited to:

If you own it, or part of it, it goes into the asset pool. This is also the case for debts and other liabilities. The court will also take the value of each of the assets as at the date you reach agreement or the date that you appear for a trial – not the date that you separated. This is very important as the value of the property owned changes over time.

Once all the property has been accounted for, the debts are subtracted from the assets to determine the net asset pool value.

Determine the financial and non-financial contributions of each party

Secondly, the court looks at the different contributions you each made during your relationship. There are many different types of contributions such as:
Determine the financial and non-financial contributions of each party

Each relationship is made up of very different contributions and it is for this reason that the court will look at each relationship on its own facts. There is no hard and fast rule.

Consider the future needs of each party

After the family court has looked at how you received the property, will then take into account what future needs each party will have. There are a variety of factors that may come into play, including:

Consider the future needs of each party
Determining whether the proposed settlement is just and equitable

Determining whether the proposed settlement is just and equitable

The final step is for the court to decide whether the final settlement to be applied is just and equitable to both parties. This will be on the basis of the contributions made by each spouse and all other relevant factors to your case. If the court finds that the settlement is unfair to one side, it must reevaluate and formulate a different settlement.

Time limits under the family law act

There is a strict time limit set out by the law concerning when property settlements should be made, while settlements can be made at any time prior to the end of a relationship breakdown.

Property settlements should be made within:

For divorcing couples, this entails that any contributions made to a property pool between the date of separation and a divorce order taking effect will be considered in a property settlement.

Time limits under the family law act

Joint applications for divorce

Let's work together

Even a joint divorce application can be daunting, let alone when you’re considering filing for a divorce online. Perhaps you have questions about submitting your application to the courts, or you aren’t sure where to start. We’re here to help guide you through the process.

Interested in chatting more about a joint divorce application?

Joint applications for property settlement

Let's work together

Interested in chatting more about property settlement?

Meet The Owner

Luke Shanahan​

Principal Solicitor​

As principal solicitor of Shanahan Family Law in Maroochydore, Luke Shanahan is a reliable and experienced Sunshine Coast family law expert, offering compassionate support to people and families experiencing the most difficult circumstances through a divorce or separation. Whether you’re seeking help with child support, parenting matters, divorce, property consent orders, financial agreements, domestic violence, joint applications for divorce, or the preparation of DIY affidavits and consent orders, Luke can help.

As sad as it is to see couples and families split, he feels privileged to be able to help his clients find a better life through their family law services. “I believe we all deserve a second chance at finding a better life, and if this is through a divorce, then we will do everything we can to ensure our client’s success through whatever means.”

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Take a look at what our clients say

Testimonials

Robert Johnston
Robert Johnston
2023-12-18
I was very happy with my experience at Shanahan Family Law. Danyelle guided me through the property settlement and a satisfactory outcome was reached. This was achieved without going to mediation or court.
Diana Homer
Diana Homer
2023-09-28
Very professional, supportive and respectful in all communications and responsibilities. I found their team very patient when challenges occured and kept me informed at all times. Highly recommend them, for personal legal requirements.
Jodie Hickson
Jodie Hickson
2023-08-31
Many thanks to the hard working team at Shanahan law. All such professionals.
Trace Mcnamara
Trace Mcnamara
2023-08-30
I was pleasantly surprised from the very beginning with my experience with shanahans family law ,from the reception staff at shanahans ,who were lovely and tentative and at how comfortable and at ease Danielle O’Connor from shanahans family law made me feel from Our very first phone consult to attending court with me each time , Danielle constantly reassured me that she had things taken care of and not to worry about anything ,she kept me calm and relaxed about things at a time when my anxiety level was very high , but certainly not after meeting up with Danielle each time , Danielle was always punctual bright and cheerful and Danielles compassion for her clients shines through ,her passion for her work is very obvious , Danielle ALWAYS went out of her way to reassure me everything was ok like a long lost friend not just once but every single time without fail ,Danielle is just so lovely to be around her compassion, personality ,demeanour and easy going nature makes it a pleasant experience just being around her ,watching Danielle work with such competency ,multi tasking whilst also listening to me at the same time was also very reassuring , her interactions with the magistrate ,other solicitors and the way she Carries herself is also inspiring to watch ,I could honestly not recommend Danielle O’Connor at shanahans enough,she even took the time to come in for my case alone whilst she was on a well deserved leave break, wich I felt terrible about but am more than grateful for as it made all the difference to my case, even though our case is now over with an amazing win ( THANKYOU DANIELLE ) I feel like I am missing a friend. If you ever need a solicitor and are very stressed about a case Danielle O’Connor is definitely who I would recommend, Danielle was also very understanding of monetary issues and did her best at all times to keep costs at a minimum for me wich I also appreciated a great deal , also I would also like to mention Travis Terracall who was also very compassionate and caring and seemed to understand my situation, I wanted to let Travis know that I appreciated his empathy towards my situation at the time . It certainly helped me. If I could have give 100 stars I would . I hope both you and you partner have a very beautiful relaxed and lovely well deserved holiday break Danielle, I’m so sorry It was interrupted due to my case and again Thank you so much not just for your amazing work but your beautiful kindness and compassion . And just being you ! with much gratitude Tracy McNamara 🌸🫶😊
David Fenech
David Fenech
2023-08-28
Highly recommend Shanahan Family Law and Lindsay Nicholson for all your family law needs.
Nathan Batley
Nathan Batley
2022-08-11
I found this firm excellent to deal with. I had received some exorbitant quotes for executing what was really quite a straightforward matter in my case. Shanahans were prompt, professional and fairly priced. I've was very happy with their service.
Chris Mehonoshen
Chris Mehonoshen
2022-04-05
Having experienced the sunny disposition of Danielle at Shanahan Family Law I can say that anyone would be in good hands. Danielle is very understanding and shows great insight in analysing the situation and cutting to the heart of the matter. Both Danielle and Shanahan Law are very professional and respond promptly in a care manner. Very happy with my choice there.
Nicole Mcmullen
Nicole Mcmullen
2021-12-14
I can highly recommend Luke and his associates for their professionalism and thoughtfulness. I really didn't know what to expect when I needed the advice and assistance of a solicitor, but Luke has been extremely patient and kind in leading me through this process.

Navigate Your Property Settlement with Confidence on the Sunshine Coast

The property division during a separation or divorce can be overwhelming, leaving you unsure where you stand. Shanahan Family Law on the Sunshine Coast is here to guide you through the property settlement process with clarity and confidence. Our seasoned experts will work with you to understand your unique situation, ensuring your rights are protected and you receive a fair and equitable distribution. Don’t let uncertainty take over your peace of mind. Contact us today to secure your financial independence and start the next chapter of your life on solid ground.

Want to understand more about Family Law?

Contact Our Sunshine Coast Support Team

Related Financial Agreement Articles

Download Our Property Settlement Guide

Get expert advice on navigating your property settlement with ease and confidence.
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