If you have gone through recent divorce, you will need to think about fair and equitable property settlements if you and your ex have any property. Even the family home may need to be sold so that the proceeds can be shared fairly. Divorce lawyers can give you a lot of advice regarding property settlement after your divorce.
In fact, you don’t have to wait till the divorce is finalised before working out the details of property settlement. That said, often a divorced couple will not be able to agree on what is fair and just, so the court has to decide. It’s a good idea to try Family dispute resolution in order to reach a fair decision as this is much quicker and it costs less.
If it goes to court then the court costs will have to be deducted from the whole before a settlement can be made, so each one will get less. Besides which, the process can drag on for 18 months which most people find extremely stressful, especially with all the other considerations that are going to take at least some money to achieve. There is the cost of moving, accommodation and even food and medical expenses that have to be met. If you don’t have much money this can be very difficult, especially with children to care for.
Before you take the matter to court there are certain steps that must legally be taken. A genuine attempt at dispute resolution is one of them. This can be undertaken through any agency that you find is convenient and close to where you live and if possible and safe, should be attended by both parties. This procedure is called a pre-action procedure and if you set it up you must give a copy of it to the other party so they know what is happening and can attend.
There will usually be a time limit for their response, such as 14 days. If they attend and there is still no agreement the matter will need to go to court.
As well as dispute resolution, a mediation conference must be attended by both parties before the case can go to court, otherwise the person who instigates the proceedings may be required to pay all the legal costs. That is why it is a good idea to get a family lawyer to represent you and your interests.
Once all the steps have been taken and if the matter is still unresolved, it will go to court and the judge will make a decision based on all the information he has. It is incumbent on both parties to offer up all the financial details of their property, both assents and debts. They are legally required to agree to all the judge’s decisions.