Financial fallout after Separation

Worried about the Financial fallout after Separation?

Given the reality that nearly a third of marriages end in divorce, it’s important to be aware of the financial fallout after divorce. Family Lawyers Perth can help you approach the situation in a systematic manner and this helps reduce the trauma and stress. Once the partners make a decision to end a relationship, the process can be a long, complex and tedious one. It’s always a good idea to have a valid BFA (Binding Financial Agreement) in place. Even if you do have a BFA to refer to, you may wish to seek competent legal guidance to help you negotiate the best terms. According to the Australian Family Act of 1975, a pre-nuptial agreement (like a BFA) will contain rights, responsibilities of each partner which makes it easier to move forward towards amicable and speedy solutions.

Confusions and altercations often result in long-drawn court battles that lead to steep expenses and prolonged stress. Divorce is one of the most traumatic events and it pays to have experienced assistance on your side. It’s natural to feel anxious about such a big change in your life and the attendant feelings of insecurity. The process of divorce involves planning for short-term as well as long term. Moreover, proceedings are often fuelled by anger and resentment and take much longer to resolve. A family lawyer can help you understand your situation and approach matters in a logical manner.

If you’re going through a divorce, a reliable lawyer can help you in many ways including:

  • Significant reduction in court and financial costs
  • Amicable resolution for problems and moving towards mutually acceptable solutions
  • Greater understanding and insights regarding your rights and duties
  • Improved communication with your partner on important issues such as alimony, property settlement, custody and so on

Every marriage, relationship and consequently, every divorce is different and requires a different approach. Talking to a trustable lawyer can help you decide on an approach that works best for you. It’s always better to opt for out-of-court settlements as the judiciary process may take much longer and the results may not always be acceptable. There are certain conditions under which Australian courts may declare the financial agreement to be null and void. To avoid such situations, it’s best to hire affordable legal services to protect your best interests.

A synergetic and collaborative effort can help reduce the trauma and stress involved. According to the Australian Institute of Family Studies, the costs of a divorce can be felt even years after the actual divorce, the exacting process can eat way into your hard-earned money. The unfortunate truth is that most couples tend to be adversarial instead of cooperative and this makes the process even more financially and legally challenging.