10 Tips for Negotiating your Property Settlement

Updated: Mar 3


 

There is no doubt that reaching an agreement in relation to property settlement can be a difficult experience. The parties are often spending the first time in some time together and dealing with all the emotion that comes with that. This can be compounded by emotions experienced over what has happened during the relationship or disagreement between parties about how assets were acquired, who was responsible for maintaining them, and whether they can be shared.


Here are our top 10 tips for helping you through the process and getting you prepared for your first appointment:


  1. Write down any significant assets and liabilities you or your ex-partner had at the beginning of the relationship (and any values if you know them);

  2. Write down the current assets and liabilities along with current values to the best of your abilities;

  3. Consider preparing a timeline of events so that you can recall important dates when speaking with your solicitor.

  4. Confirm whether you or your ex-partner received any lump sums during the relationship (such as inheritances, compensation pay outs or redundancies) – write down how much each lump sum was, when it was received and if possible, what the money was spent on.

  5. Gather copies of documents including bank statements, payslips, statements for liabilities, superannuation statements and any other document which evidences both yours and your ex-partners financial situation.

  6. Think about who will be keeping which parts of the property pool or which property pool would need to be sold.

  7. Consider what you may think is a fair outcome and if safe to do so – make an offer of settlement to your ex-partner (or instruct us to put the proposal to them on your behalf).

  8. Negotiate respectfully and give each other time to consider offers and to obtain independent advice.

  9. Understand that you might not agree on everything and that’s ok too. You might still be able to agree on a final outcome without agreeing on all of the nitty gritty.

  10. If you can come to an agreement, contact us to formalise the agreement by way of a Consent Order or Binding Financial Agreement.


The above tips will get you well on your way to a successful first appointment where we can cover a significant amount of ground and discuss a strategy for your matter moving forward. We provide independent, practical, no-nonsense information and support to help you resolve your legal issues through agreement or Court action should negotiations fail.


If you require legal assistance in relation to your property settlement matter do not hesitate to contact us for your first 15 minute free consultation and your first hour for a reduced rate. Alternatively, if you wish for us to contact you, please put your details in the contact box at the bottom of each page.



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