PPP500 List: Priority Property Pools under $500,000

PPP550 List: Priority Property Pools under $550,000

The Priority Property Pools under $550,000 List (PPP550 List) is a cost-effective solution provided by the Federal Circuit and Family Court of Australia for property disputes involving assets under $550,000 (excluding superannuation). This program simplifies the legal process by requiring only an Initiating Application and a PPP550 Financial Summary document for filing, reduces costs, and promotes efficient resolution. Parties receive court-issued Orders to exchange financial information and engage in dispute resolution without immediate courtroom appearances. If disputes persist, court-funded mediation and expedited proceedings ensure timely progress. However, cases with certain characteristics, such as entities requiring valuations or those seeking parenting or enforcement Orders, may not qualify.

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Applying for divorce

Special Requirements to apply for a divorce if you have been married for less than two years

If you have been married for less than 2 years when you file your Application for Divorce, you need to address one of the following options: 1. Attend counselling with a family counsellor: In this step, you and your spouse will meet with a family counsellor to discuss the possibility of reconciling your relationship. After

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Is my ex entitled to my superannuation

Is My Ex Entitled To My Super?

Is superannuation included in a property pool? This is a common question in family law. The answer is yes. Superannuation is recognized as property under the Family Law Act 1975, which means it needs to be valued and included in the property pool for division. In some cases, parties may retain their individual superannuation interests. But when there are significant discrepancies in superannuation value, the party with a higher balance may need to give some of their superannuation to the other party via a ‘superannuation split.’ Get tailored legal advice to determine if a superannuation split is necessary for your individual matter.

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The Assessment of an Initial Contribution

This article discusses the weight given to the initial contributions made by one party in a relationship with vastly different net worths. The court considers several factors, including the class of assets, whether they have increased in value, and the length of the relationship. The erosion principle and springboard principle are also discussed. Additionally, the article analyzes the Full Court of the Family Court decision of Jabour and how it affects the assessment of initial contributions. Seeking professional advice is important as the weight given to an initial contribution may vary depending on the circumstances.

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Documenting your settlement agreement: Consent Orders or Financial Agreement?

Documenting Your Settlement Agreement: Consent Orders or Financial Agreement?

If you and your former-spouse or de facto partner have reached a property settlement agreement after separation, it is crucial to document it formally to avoid future disputes. Two formal ways to document a property agreement recognized by the Family Law Act are Consent Orders and Financial Agreements. Consent Orders are Court Orders that require both parties’ consent and approval by the court, whereas Financial Agreements are private agreements between parties. While Consent Orders must be considered just and equitable and require a $180 filing fee, Financial Agreements do not need court approval but require both parties to obtain independent legal advice. Financial Agreements can also extinguish future claims for spousal maintenance. If you need help formalizing a property settlement agreement, Honan Family Law can offer a fixed fee initial consultation to discuss your options.

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