We often hear of friends and relatives that go through a messy separation following their decision to part ways and cannot agree on their children’s living arrangements and how their property will be divided. What we don’t often hear about are those that part ways on amicable terms and come to an agreement about their children and/or property. The most common way of recording these types of agreements in a legally binding manner is by way of an Application for Consent Orders.
An Application for Consent Orders is a formal court document, which is filed at the Family Court and processed administratively without the need for court appearances. The document enables the parties to seek orders about their children’s living arrangements and property settlement. Providing:
- the orders concerning their children are in their best interests;
- the orders concerning their property are fair and equitable;
- the form has been completed correctly; and
- the form of the orders are capable of being enforced
the court will generally grant the orders and post the sealed orders to the parties.
The benefits to obtaining consent orders include:
- It makes the agreement clear, binding and enforceable.
- For orders concerning transfers of property, it allows the spouse acquiring the property to get a stamp duty exemption on the transfer. This can represent a saving of thousands of dollars.
- If the transfer of an asset would trigger capital gains tax, consent orders allow you to obtain rollover relief, meaning you would not have a CGT liability.
- You can split (transfer) superannuation entitlements.
Ward Keller’s family law team can assist you with Consent Orders. If you and your spouse have reached an agreement, we offer fixed fees for preparing Consent Orders. Our fees are:
- For property or parenting Orders, $2,000 plus GST and disbursements.
- For property and parenting Orders, $3,000 plus GST and disbursements.
- If your property agreement includes a split (transfer) of superannuation entitlements, more than two real properties, a company, family trust or self-managed superannuation there will be an additional charge (per item) of $500 plus GST and disbursements.
Our family law team offers an initial telephone consultation at a reduced cost $110 for the first 30 minutes. Any costs beyond the initial consultation will be discussed with you at the conclusion of your attendance.
If you would like to make an appointment for an initial consultation please contact Sarah Kelly on 89462982.