The difference between a Divorce and a Property Settlement in NSW

The difference between a Divorce and a Property Settlement in NSW

Divorce and property settlements are distinct and separate processes in family law, though they are often mistaken for being the same.

What is the difference?

Applications for divorce and property settlement can be filed in any order or simultaneously. Some couples divorce without ever formalising a property agreement, while others may divide their assets but never file for divorce. Neither scenario is advisable. A property settlement involves the formal division of assets after a couple separates, and discussions about asset division can begin as soon as separation occurs. A divorce legally ends the marriage, allowing the parties to remarry.

What's involved in a Property Settlement?

A property settlement can be finalised without filing for divorce. It involves arranging the division of assets, liabilities, and financial resources after a couple separates. There isn't a fixed formula for dividing property; the court will determine what is just and equitable based on your family's unique circumstances. Property can include almost anything of value, such as:

Property owned jointly or individually
Superannuation
Business interests
Trust interests
Jewellery
Cars
Assets acquired through inheritance
Money

A property settlement can cover property acquired before and after the separation, not just during the relationship.

Timeframes for a Divorce and Property Settlement

To file for divorce, a married couple must have been separated for at least one year. There is no waiting period to begin property negotiations. After a divorce is finalised, you have 12 months to apply for a property settlement. It's usually best to complete the property settlement before filing for divorce to avoid being affected by these time limits.

If you are navigating a separation and require supportive guidance, contact the team at Greigs Legal today. We are here to assist you through the family law process with clear communication and care. To arrange a free consultation with a family law solicitor, fill out an online enquiry form, or call us on (02) 4647 2968.

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I'm a stressful person by nature. Add divorce shock into the mix and it's a grim picture. Griegs was my second solicitor in my divorce process, as I gave up on the first bunch. I travelled across Sydney to meet Sarah when I took on Griegs to represent/rescue me. Immediately I met Sarah I felt a huge weight off my shoulders. Her presence and character came across to me, that I now had an intelligent and honest solicitor representing me. Her team are A1. They were professional and never let me down. I highly recommend them for divorce matters.

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Sarah and Darcy from Gregory Hills were great, kept me updated throughout the entire process and made the process much easier for me. Would highly recommend.

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Micah Williamson

I can't recommend Greigs Legal highly enough. I am very grateful for the team as they were extremely helpful, honest and professional in assisting with my Binding Financial Agreement, communicating the process extremely well. I will definitely be utilising their services in future!

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Don't waste your time anywhere else. This is a law firm that is not like the rest. Others talk the talk, but this practise honestly care about people and the implications involved. They personalise the experience, act professionally and genuinely care. Like a great game of chess, they look at all possibilities to get the best outcomes, not just in the short term but long term too. Thanks GREIGS LEGAL. I hope my review helps others in finding you, just like others helped me find you. If you want the best be sure to talk to Sarah, you can't go wrong. You are my definite 'go to' legal team!

Had a smooth and stress free process facilitated by Darcy at Greigs. Very straight forward and good communication, plenty of info provided with the whole process from mediation to divorce filing.