Document an Agreement
Document an Agreement
It is very important to properly document the agreement that you and your ex-spouse have about your property settlement and custody arrangements. There are a variety of legal documents available to document your agreement. We will ascertain your needs and advise you which document is most suitable to your needs.
Advantages to properly documenting your settlement agreement include:
- The right settlement agreement allows you to “draw a line in the sand” with your ex-spouse and will prevent your ex-spouse from making a further claim down the line. If your ex-spouse were to make a further claim, income you earned post-separation and assets you accumulated post-separation, including inheritances, savings, and super may all be up for grabs.
- Your ex-spouse’s superannuation benefits cannot be split with you without the correct settlement document.
- You may access capital gains tax exemptions on the transfer of investment properties and shares between you and your ex-spouse if the transfers are done pursuant to the right settlement document.
- The right settlement document may include clauses forcing your ex-spouse to actually carry out their “end of the bargain”. For example, if a settlement payment was not made on time, an asset belonging to your ex-spouse may be forcibly sold and the proceeds paid to you.
- The right settlement document can end your ex-spouse’s rights to claim spousal maintenance from you in the future.
- The right settlement document can force your ex-spouse to comply with their agreement to pay future expenses for your children (e.g., medical bills and school fees) even after your ex-spouse has remarried.
- If your ex-spouse fails to return the children to you on time, the Court can ask the Police to intervene and return the children to you.
- The right parenting agreement can record the circumstances where you can travel with your children without having to obtain your ex-spouse’s consent each time you wish to travel. It can also stop your ex-spouse from taking your children overseas if you are concerned that your ex-spouse may hide the children in a foreign country.
Where possible, we will provide a fixed fee quote for the drafting of settlement agreements.