Property and Financial Settlement Mediation

Preparing for property / financial settlement after separation or divorce uses a 4 step process:

1. Disclosure
2. Contributions
3. Future needs
4. Just and equitable.

1. Disclosure is when you list all the assets and major belongings you brought into the relationship, acquired during the relationship and acquired after separation. Write them all down and give each a dollar value. Add them up. Then do the same for all the debts and liabilities. Subtract the liabilities from the assets and you have the Net Asset Pool. This is what you are going to mediate about.
2. Contributions are what each of you have put into the relationship including financial and non-financial.
3. The future needs of each party are worked out by considering things like having children in your care or whether you are able to support yourself financially after separation.
4. A just and equitable settlement is when the above three components have been taken into account fairly.

• The mediator doesn’t consider evidence, because we are impartial. If there is disagreement between you about the value of an asset or debt, for eaxmple, you will need to show each other evidence. The mediator can assist you to come to an agreement.
• Agreements reached in mediation are not legally binding, but you can apply for consent orders. Argyll can walk you through this process.
• Consent Orders are legally binding and final … except … if you hide an asset and don’t disclose it to the other party, like a second superannuation account, and the other party finds out later, any agreement or court orders can be revisited. It’s important to make a full and frank disclosure.

This is not legal advice – it’s a brief overview of financial settlement mediation. Talk to Tess from Argyll about your situation and how mediation can help. M: 0448 837372