Parties can elect to document an agreement one of two ways – through Consent Orders, or through a Binding Financial Agreement.
Consent Orders can be filed in the Court after a relationship has ended. These documents set out the circumstances and agreement about property matters and/or children’s matters. It does not matter if the parties were in a de facto relationship or married (and for parenting matters, it doesn’t matter if the parents were in a relationship). The parties are not required to go to Court, and the judicial officers will consider the matter just based upon the documents filed.
The Court requires that parties file at least two documents – an Application for Consent Orders and a document setting out the terms of the agreement (the Orders that are proposed to be made by the Court). Depending on the circumstances other documents may be necessary. The Court has quite a lot of useful information about Consent Orders on its website.
We always recommend that you at least get some initial advice and, whenever an agreement is reached, that you get legal assistance in drafting these important documents.
Binding Financial Agreement
A Binding Financial Agreement can also be entered into after a relationship has ended to document an agreement about property matters. Similar to the information above, Binding Financial Agreements require both parties to have separate lawyers, but does not involve going to Court or submitting documents to the Court.
We can assist you before, during and after entering into a Binding Financial Agreement. Make an appointment to talk with our Family Law Solicitor today.