Property Settlements in Geelong
Trapski Family Law helps separating couples divide assets and debts. We know family law, so submit an enquiry today to arrange confidential legal guidance about your situation.
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Supporting Fair Outcomes for Families
At Trapski Family Law, we provide legal support for property settlements to help separating couples navigate the division of assets and liabilities. This process involves identifying the property pool, assessing both financial and non-financial contributions and considering future needs such as income capacity and care of children.
Our role is to help ensure that settlements meet the requirements set by family law, providing lawful and structured outcomes. Accredited by the Law Institute of Victoria, we help clients understand the options available, including consent orders and binding financial agreements.
Since 2011, we have assisted families in reaching property settlements that comply with legislative requirements. To discuss your circumstances and arrange a confidential consultation, please call us on (03) 8001 7070.
Accredited family law practice
Clear process for division
Assets, Liabilities & Legal Agreements
Property settlements cover the full financial picture of a relationship. This includes real estate, vehicles, bank accounts, superannuation, businesses and household contents, as well as debts such as mortgages, loans and credit cards. The Family Law Act requires settlements to be just and equitable, and in practice this means considering both the history of contributions and the future needs of each party. Agreements can be formalised through consent orders or binding financial agreements, both of which provide enforceability and reduce the risk of future disputes.
Understanding the scope of property settlements helps individuals make informed decisions about dividing assets and liabilities after separation. Contact us today to learn more.
FAQs
What is a property settlement after separation?
A property settlement is the legal process of dividing assets and liabilities when a relationship ends. This includes not only property like the family home, but also superannuation, investments, vehicles, business interests and debts. The goal is to achieve a settlement that is fair and compliant with family law. Settlements can be negotiated directly, through mediation or determined by the court if agreement cannot be reached.
How does the court decide on property settlements?
The court follows a structured approach. First, it identifies if it is appropriate to make an adjustment to property interests. Then, it identifies and values the asset pool, which includes all property debts and financial resources. Next, it considers the contributions of each party, both financial and non-financial. Then, the court assesses future needs, including age, health, income earning potential and care of children. Finally, it determines whether the proposed division is just and equitable. Each case is assessed individually, and outcomes vary depending on circumstances.
Do property settlements require going to court?
Not always. Many property settlements are negotiated and finalised without going to court. When parties reach agreement, it can be formalised through consent orders or a binding financial agreement, both of which are legally enforceable. Court proceedings are generally only required if agreement cannot be reached. Resolving matters outside of court can be faster, less costly and less stressful for all involved.
How long do I have to apply for a property settlement?
Strict time limits apply. Married couples must apply within 12 months of a divorce becoming final. For de facto couples, applications must be made within two years of separation. Extensions are possible in limited circumstances, but they require court approval. Seeking advice early is important to ensure these deadlines are not missed and to preserve all available options for resolution.
