Property Settlement Lawyers NSW

Sometimes people come and see us soon after they separate. Sometimes they wait many years before they take action.

Our general recommendation is to sort out your property settlement sooner rather than later.

There are at least three good reasons for this.

Firstly, it is good to get on with your life. You can’t do that completely until you sort out your property settlement.

Secondly, the process of sorting out your property settlement could take a long time. The sooner you start the process the sooner you complete it.

Thirdly, the current value of your assets is always relevant.

If you put off reaching a settlement then the value of your assets may increase significantly, thus increasing your payment to your former partner.

The value of your superannuation might significantly increase. You might save a lot of money. You might acquire new assets. This is not a problem once a settlement has been formalised. Once you have finalised your settlement then further increases in the value of your assets (or newly acquired assets) will remain your property. Further, delay and changes in the financial position of either or both parties often makes it more difficult to come to an agreement. This generally will result in increased legal costs and delay. In short, delay may mean that you end up in a worse financial position than if you had acted promptly.

Sorting out your property settlement sooner rather than later shouldn’t mean that you do it with haste and with the sole intention of doing it quickly. You only get one chance to get a fair deal. We recommend that you get quality advice early so as to place you in the best position to make an informed decision about the best way to proceed.

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