Consent Orders

For property settlement matters, obtaining a consent order, or entering into a Binding Financial Agreement, is extremely important. These documents sever the financial relationship between the two of you (excluding child support) and ensure that the other party cannot make any further claim for settlement down the track. You may read that you can simply get a mortgage broker and conveyancer to transfer any property with a statutory declaration and manage the rest yourself. This is a possibility where there is no superannuation split, but if you do it this way, the other party could make a claim against you for a further settlement payment down the track. These documents do not protect your interests fully.

In addition, any superannuation splits need an order of the court or superannuation agreement (which can be included in a Binding Financial Agreement).

Consent orders are more affordable and offer more security than a Binding Financial Agreement. However, BFA’s can be helpful in cases where the court may not make a consent order  in the terms requested.

If you reach agreement about parenting arrangements, these arrangements do not have to be formally recorded. You have several options for parenting agreements:

• Parenting Plan - this is a written agreement, which has the children’s names and dates of birth, parent’s names, the agreements in writing and is signed and dated. This is not a binding document (not enforceable) but the court would have regard to it if one party applied for parenting orders.

• Consent Orders - The agreement can be turned into a binding order by filing an Application for Consent Orders. This can be done at the same time as property orders or on its own. This document is enforceable but would require contravention proceedings in court to enforce.

• Verbal agreement only -  If you feel that you and the other parent are able to manage without a written agreement this is completely valid. This approach can ensure flexibility when needed.

There are pro’s and con’s of each type of agreement and individualised advice about which is most beneficial in your circumstances is useful.We discuss these in our initial legal advice appointment.