FAQ - Finance & Property settlement

NEW
Finance and Property PowerPoint Information - DOWNLOAD

Do you provide assistance for Settlement Of Finances And Property Interests?

When people separate, they usually need to sort out how to divide their assets (property) and debts. Ringwood Family Relationship Centre can help.

We invite you to book a private and confidential assessment session with one of our accredited Family Dispute Resolution Practitioners by calling 03-98716300 or email [email protected].

What steps are involved?

The first step is to request a copy of our Information Pack and an Asset and Debt Checklist. 
  • Work out what you've got and what you owe (your assets and debts).
  • Look at the direct financial contributions by each party to the marriage or de facto relationship, such as wage and salary earnings.
  • Look at indirect financial contributions by each party, such as gifts and inheritances from families.
  • Look at the non-financial contributions to the marriage or de facto relationship, such as caring for children and homemaking.
  • Future requirements – a court will take into account things like age, health, financial resources, care of children and ability to earn.
  • Document the discussion and any agreements reached.
​

Is there a time limit for court applications about property?

  • If you were married, applications for property adjustment must be made within 12 months of your divorce becoming final.
  • If you were in a de facto relationship, your applications for property adjustment must be made within 2 years of the breakdown of your de facto relationship.
If you do not apply within these time limits, you will need legal advice and seek permission of a court to apply out of time. This is not always granted.
​

Do I still need advice from a Lawyer?

Yes. We are Family Dispute Resolution Practitioners not lawyers. Advice from a lawyer will be necessary before your finance and property settlement can be legally finalised.
​

Where can I get further information?

​Further information can be found on the Family Court of Australia website at www.familycourt.gov.au/wps/wcm/connect/fcoaweb/family-law-matters/property-and-finance
​