If splitting up the property between separating spouses is as simple as a house transfer, or a sale and splitting proceeds then a simple deal is all that is needed.  

But a simple deal shouldn’t ever just end with conveyancer- legal claims don’t end at the LTO or with a sale and split of proceeds.

Stamp duty and CGT relief is only possible, if you do the deal legally.
Superannuation splitting is only possible if you do the deal legally.
More than that, the risk against future legal claims is only guaranteed, if you do the deal legally.

If not, future legal claims can be made against:

  • your property (ie assets you own or control, not just real estate). 
  • your superannuation, 
  • your future property, ie anything else you might ever own or control in the future and  
  • your future income on an ongoing basis (and we don’t mean just child support)- it’s called a spousal maintenance claim.  
It might all be good now, but things change and people change their minds.

If you don’t stitch it up now, you risk having to deal with it later.

Time limits only apply if you actually get divorced – separation is not enough.  

Your spouse has 12 months from the date of divorce to apply for a property settlement and spousal maintenance application; That’s a minimum of 2 years if you are on time.  

If you don’t do the divorce, the claims can last forever!!!  

For de facto relationships, it is 2 years from separation. 

The assets change in the future.

If a claim is made, it’s against everything you own at the future date.

Their new partner might have a claim to an asset held by you in the future. 
Death changes everything. 

Not enough? 

Case example: 
  • A client wanted advice because of a query from her accountant about a document she was being asked to sign. It was a form to resign as a director of a company. She was told it was a loose end. 
  • It turned out, she did a deal at the conveyancer’s office 5 years ago to transfer a business (a vineyard) to her husband and walked away with a small lump sum in cash and the clothes on her back. She signed a document the conveyancer told both of them was a legitimate deal and they transferred the property and did all the company transfers (But forgot one document).  
  • They also did a divorce at the time. 
  • They didn’t property settlement deal legally – there was no Consent Order made by the Court or a Binding Financial Agreement signed and no legal advice given.  
  • Now, 5 years later, the vineyard was worth millions of dollars.   
  • She was out of time, but that didn’t stop her.  
  • She had changed her mind and the fact that they didn’t do the deal legally 5 years ago meant she got another shot at it, except now the assets were tripled!  
  • Bingo, she had a claim to the millions as well as the ongoing income the vineyard was producing. 

Divorce bar gives you: 

  • A divorce. 
  • A property settlement. 
  • A legal consult and advice about anything you might have missed.  
  • Filed court documents that are binding and enforceable.  
  • An ability to split superannuation.  
  • An exemption on stamp duty.  
  • Protection for your financial future.   
  • Fixed fees 
  • 48-hour turnaround from giving instructions.  

Not sure you have much choice but to give it a go? 

Click here to check out The Divorce Bar