How can property settlement lawyers help?

Property matters, especially after separation, can be complicated and embarrassing. It is a difficult moment for the couple and often more so because there are certain matters where the couples may not agree. Involving property settlement lawyers ensures that the division and distribution of the property and assets are done in a fair manner. Even liabilities! A lot of facts and factors are considered when deciding property matters. It is the Family Court that does the division. It considers several attributes before ensuring that division is done fairly and reasonably.

What are the things that the Court considers in property settlement and separation?

As mentioned above, there are multiple factors taken into consideration by the Court. A few of them are:

• The couple’s assets and liabilities individually at the start of the relationship.
• Properties are received as inheritance or gifts by either spouse during their relationship. It could be properties, lumpsum payments, etc.
• The duration of the relationship, especially as a wedded couple.
• The earning capacity and the health condition of each spouse, especially after separation.
• Finally, if the couple has kids from the relationship.
• Also, the Court considers the arrangements made by the estranged couple for their kids.

Do I need the help of property settlement lawyers, especially if I need to reach an agreement?

Whether in the agreement or not, it is advisable to seek legal advice. It is best to take independent legal advice. In the case of a contract, an application for Consent Orders would be readied by the law firm so that a formal order is received and passed by the Court.

A formal Court Order is a must in the settlement of property matters. This is so because once the Court Orders are prepared, the agreement you had reached becomes legally binding. A legally binding order means that both parties must abide by the Court Orders. The other important aspect of the Order is that none of the spouses can have any more claim on the assets or properties acquired by either partner after the Order is passed. And thirdly, in case one of the parties is not complying with the orders, the other party can initiate enforcement procedures against the non-compliant party.

Lastly, property settlement separation orders need to be formalized legally because all transferred properties are exempted from the payment of Capital Gains Tax ad Stamp Duty.

The Application for Consent Orders is a document that needs to be prepared once a property settlement has been initiated. It needs to be completed in all aspects and filed in Court. Only professional property settlement lawyers can prepare the document with professional thoroughness and diligence. Only experienced lawyers can do justice to the document preparation process.

When the couple does not reach an agreement, the lawyers will help you fill in the Application for property settlement in the Family Court. It is imperative to search and find a law firm with a proven track record, or else the entire process can become pretty expensive and stressful. If there is a need to go to Court for litigation, the lawyer will guide his client to help reach a desired settlement with the ex-partner.