Reduce the time of a property settlement

Date: Nov 06, 2015

According to McCrindle Research, one in three marriages in Australia will end in divorce. While the number of divorces is shrinking, those 48,000 per year are a source of persistent stress for both parties. 

Divorce is sometimes complicated, and for many people it can seem one of the most daunting undertakings based on the time required and costs involved.

The property settlement aspect of divorce can involve large amounts of time, especially if you and your partner haven't sat down to discuss the split.

There are three courses of action that can prove useful in reducing the time required for a property settlement.

Put the process into place early

Speeding up a property settlement is easier if you act early. Gather all of the required information that's going to be necessary throughout the process, including records and other related documents, and find out from a lawyer whether you're going to need any additional information.

This leads into the next course of action: discussion. By cooperating with your partner, the settlement will likely progress far more quickly.

Have a discussion with your partner

It's important to firstly consider what you have brought to the relationship in terms of the property. Your former partner should do the same, as knowing what each person contributed can speed up the settlement. Remember: think about more than just money, it's a good idea to consider the non-financial contributions you have made to the relationship.

It can be a good idea to engage the services of both a financial advisor and lawyer before going ahead with a separation, as this will help you clarify your financial performance.

Bring in an experienced third party

If you and your partner have had a discussion regarding assets, and are still struggling to come to terms on an agreement, it may be time to bring in the guidance of a professional with experience. This means engaging with a professional wills and estates lawyer in NSW.

These professionals can prove especially useful, as they will often bring years of experience to the table and advice to speed up the process. That's not to mention the reduced stress as you and your partner will have individual lawyers to speak to throughout the settlement.

Reach out to professional lawyers today to help create a more streamlined property settlement. By having guidance throughout the process, it's easier to come to terms on an agreement.