Property Settlement > Financial Consent Orders
Financial Consent Orders
When you need to know your options and your rights and you want swift attention to your Family Law concerns, the Anumis Dream Team has your back. We’ll listen to you, advise you, mediate, negotiate and litigate to take best care of all your legal needs.
Your Legal Experts In Preparing And Reviewing Financial Consent Orders
If you and your former partner have arrived at an agreement about financial orders and you want to ensure that the terms of your agreement are legally binding, then you can formalise your agreement by applying for Consent Orders. Arranging Consent Orders ensures your former partner is held to account. If you’d like assistance with preparing and reviewing your financial consent orders, Anumis Legal is here to assist you.
Consent orders can assist couples to finalise their financial relationship without the cost and emotional stress of court proceedings. There are many issues to consider when you are negotiating your fair and equitable property division.
Before you decide what to do about the division of your finances, property, and debts, it is advisable that you seek legal advice, so that you fully understand your legal rights and responsibilities. Consideration is given to the assets you brought to the relationship when your relationship started, your financial and non-financial contributions during your relationship and your future needs.
It is possible that you or your former partner may need financial support from the other in the form of spousal maintenance if you and your former partner are/ were married or de facto maintenance if you and your former partner are/ were in a de facto relationship.
What Should You Consider When You Are Preparing Consent Orders Regarding Your Property Settlement?
When you are looking to agree your financial settlement to give you and your former partner finality regarding the just and equitable division of your property, you will need to detail what assets you brought to the relationship when your relationship started, what assets and liabilities accrued during the relationship and your current position.
To help to work out what you and your former partner are entitled to, you and your former partner will be required to disclose the following as they relate to you:
Details along with estimates of value of any assets in your possession or control
Copies of tax returns and notices of assessment for the past three (3) financial years
Copies of superannuation member statements for each superannuation interest
A copy of the trust deed for any self-managed superannuation fund and copies of the financial statements and tax returns for the fund for the past three (3) financial years
A copy of any partnership deed and financial statements and tax returns for that partnership for the past three (3) financial years
Copies of the share statements relating to any interest in a publicly listed company for the past 12 months
An interest in a company which is not publicly listed, a copy of the company’s constitution, and a copy of the financial statements and tax returns for that company for the past three (3) financial years
Any interest in a trust by way of beneficiary entitlement or is a trustee or appointor, a copy of the trust deed and copies of the financial statements and tax returns for that trust for the past 12 months; documents evidencing any disposal of property in the past 12 months preceding separation or since separation
If you receive a wage or salary payment, copies of your three (3) most recent payslips;
If you otherwise own or control a business, copies of the business activity statement for that business for the past 12 months;
Copies of bank statements for the past 12 months
Copies of loan statements for any loans for the past 12 months.
What Should You Consider When Dividing The Property And Finances Of Your Relationship?
If you want the division of your finances and property to be formalised into Financial Orders by Consent so that they are enforceable then here are some examples of things you will need to consider:
Are you or your former partner entitled to financial support from the other in the form of Spouse maintenance?
Are you or your former partner entitled to financial support from the other in the form of De facto partner maintenance?
How are you and your former partner intending to share your financial resources, property, liabilities and superannuation?
Please note: If you or your former partner has a superannuation interest then there are special requirements. Seek legal advice.
What Happens If Your Former Partner Breaches Your Consent Orders?
If you believe that your ex-partner has not complied with your Consent Orders, you should seek legal advice. You can attend family dispute resolution or apply to the Court. However, the law on enforcement is complex and it is advisable for you to get advice before you approach the Court to enforce your Order. You can find the rules that apply to the enforcement of your financial orders under Part 11.1 of the Federal Circuit and Family Court of Australia (Family Law) Rules 2021.
There are four types of enforcement orders the Court can make:
- An order appointing a receiver.
- An order for sequestration of property.
- An order for seizure and sale of property, which is generally done under an Enforcement Warrant.
- An order for the attachments of debts and earnings, which is generally done under a Third-Party Debt Notice.
The first step to take if you are seeking to enforce a financial order is to obtain information about the person who has failed to pay the money. You can do one of the following to obtain the payer’s disclosure:
- You can give the payer written notice to provide a financial statement within 14 days.
- You can apply to the Court for an Order requiring the payer to provide a financial statement within 14 days and/or produce documents or disclose information about the payer’s situation.
If you provide the payer a notice for a Financial Statement and the payer does not produce the Financial Statement, or the payer choses not to comply with an order to disclose information or provide documents, then the payer commits an offence of strict liability that attracts a penalty of 50 penalty units.
While you do not have to have legal representation before taking action to enforce orders, family law is complicated and getting legal advice will help you to better understand your responsibilities and your rights.
Anumis Legal 7 Step Process To Getting Your Financial Orders By Consent Done
1. Information Gathering
We provide you with a template to gather information regarding your assets and liabilities that is necessary for us to be able to advise you on your options and prepare the draft orders.
2. Partner Disclosure
Often, we find that one partner takes responsibility for the financial aspects of the relationship and can provided all ofthe information we require to complete the draft orders.
In other cases, because the separation is amicable our client can gather all of the information from their partner (for example superannuation balances, credit card balances, bank account statements).
If you are unable to provide us with sufficient information regarding your partner’s affairs we may have to write to them requesting disclosure of their assets and liabilities.
3. Clarification Meeting
We meet with you in person or via zoom to:
- confirm the information provided,
- provide advice on your opinions, and
- confirm your instructions regarding the division on your assets.
4. Draft Orders
We prepare the draft orders and application, send them to you for you review, and make any amendments you request.
5. Forward Orders
We forward the draft orders to your partner or their solicitor, attend to any requested amendments in consultation with you, and finalise the orders for signature.
6. Sign Orders
We forward the finalised orders and application to your partner or their solicitor for signing.
7. File
Once we receive the signed orders and application, we then file them in the court and forward the sealed orders to you and your partner when we received them from the court.
What Is Property?
Property includes cash, personal property (such as cars, furniture, and jewellery) shares, real property (such as houses, land or other buildings). It also includes debts owed, superannuation, interests in businesses and trusts and property within Australia and overseas.
Do You Also Need Assistance Drafting Parenting Consent Orders?
If you and your ex-partner have children between you, you can also seek Parenting Orders by Consent to formalise the arrangements you have agreed on regarding care of your children. To ensure that your agreement is enforceable and legally binding (as long as there are no Court proceedings on foot) you can formalise your parenting agreement by applying for consent orders.
When a Court decides whether your Consent Orders for Parenting will be approved, the Court considers the best interests of the children. Consent Orders can also be used to discharge or change existing family law orders. Check out our consent order page today to learn more about how the law applies to your situation, how to complete the forms and lodge your Parenting Consent Orders correctly!
To Discuss Preparing Or Reviewing Your Financial Consent Orders, Call The Anumis Legal Dream Team For Your Complimentary Consultation Now.
It is always important to get legal advice so that you understand your rights and responsibilities, whether you and your former partner may have a clear idea of how you wish to divide your assets fairly so that each of you can move on with your lives, or your financial circumstances are challenging and complex.
To learn more about how the law applies to your situation, and to complete the forms and lodge your Financial Consent Orders correctly, you can call our experienced Anumis Legal Family Lawyers directly on 07 5455 6347 to make your appointment for your complimentary chat. Or email admin@anumis.com.au to set up your free consultation now.
Meet Our Legal Team
Dr John Cronin
Dr John Cronin holds a Master’s Degree in Business Management, a PHD in socially responsible investment, and is pursuing a further PHD in superannuation law. In his earlier engineering career, he led numerous large-scale equipment design and infrastructure development projects. A former financial and investment advisor, Dr John has a wealth of experience across banking, finance, and investment.
Nadine Love
Nadine Love holds a Master’s Degree in Dramatherapy. In her earlier career as an author, mentor and trainer through her books, products, and coaching services she assisted people to transform their personal and professional lives to find confidence, clarity, success, and wellbeing. Nadine was awarded the 2020 NSW Bar Association Prize for Civil Litigation and Evidence.
You can depend on our Commercial Law and Family Law firm to get to know you and your needs in depth. Our expert legal advice, courteously tailored to your specific circumstances, is at your right hand to that you can make well informed choices round the clock. We have your back.
To make your appointment or for further information: admin@anumislegal.com.au
or call 07 54556347
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