Divorce and property settlement: what’s the difference?

by Peter Magee on March 6, 2012

Peter Magee

Many people hold an incorrect view about the divorce process and property settlement process. It is quite common for people who have separated from their spouse to think that their divorce and their property settlement are the same process. However this is not the case. In fact, your divorce and your property settlement are two separate processes.
It is important to know that once you are divorced, there is a time limit of 12 months from the date of your divorce within which to legally document and finalise your property settlement i.e., by way of consent orders, Binding Financial Agreement or final orders made by the Court.
As recently as yesterday, a client came in to see us eager to sign her Divorce Application when she had not yet finalised her property settlement by legally binding court orders. She was not aware of this important time limit. Luckily for her, we provided her with detailed advice about this important time limit and of the best path forward for her family law matter.
If you are looking for legal advice that is tailored to your circumstances, please call our team to speak to a competent family lawyer with expertise in divorce and property settlements.

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