Do I need to go to Court?
I am often asked what is the difference between a binding financial agreement (BFA) and consent orders. For lawyers they are both similar in costs of preparation. Which is better? This may depend on the circumstance. BFA’s can be entered into at any time. Prior to the relationship, during a relationship, and after the relationship is ended. Consent orders are orders approved by the family court that finalise property settlements. Should you get a BFA prior to the relationship? My answer is absolutely. Deciding together how things may be sorted at the end of a relationship can give both parties a sense of security.
Do you need to go to Court? If you and the other party can work things out then no going to court before a Judge is not necessary. If things cannot be agreed between the parties then this may be the only choice a person has.
Time Limits: If Defacto relationship within 2 years of separation. If married withing 12 months of the Divorce being made final.
Remember!! Disclosure is ongoing up until the date of settlement.