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Financial Agreement

Family Dispute Resolution can help you Resolve Financial Issues in case of Divorce

Although divorce can be traumatic and overwhelming, it’s important to keep your interests in perspective and negotiate a fair financial agreement. Trusted family lawyers recommend the Family Dispute Resolution rather than going to Family Court; going to court should be the last option, if you are unable to come to an agreement. Family Dispute Resolution encourages partners to work through issues in a logical and understanding manner. Discussions that are driven by resentment and anger will not achieve the desired results.

In Australia, the Family Dispute Resolution process (known as FDR) involves the assistance of an impartial, fair and qualified FDR practitioner who will help the divorcing couple resolve issues in an amicable manner. The objective of the FDR practitioner is to help the divorcing couple reach a mutually satisfying financial agreement.

Mediation is one of the techniques recommended by Australian law before going to Family Court. An adversarial interaction between warring partners often results in a protracted court battle involving high lawyer fees and escalating legal costs. This money can be much better utilised towards settlement of debts, bills and welfare of children and so on.

Some salient facts about the Family Dispute Resolution process are described below:

  • It is the job of the FDR practitioner to encourage both partners to negotiate freely and come to a mutually acceptable financial agreement. However, he or she will not offer legal advice
  • The dispute resolution process is deigned to promote fairness among the partners. You can speak without being angrily or rudely interrupted by the other partner. You will also be given ample opportunity to respond to questions. In many cases, acrimonious and angry discussions will have a tendency to hamper the process of negotiation. The objective of the FDR is to facilitate better communication between the partners.
  • If the partners are unable to reach an agreement through the Family Dispute Resolution process, they may still be able to work out a financial agreement with the assistance of lawyers.
  • Family Dispute Resolution can help you obtain financial assistance, child support and living arrangements and so on.

Divorce or separation may have been completely expected or it may come as a sudden shock. You should discuss temporary living arrangements, for example, before the financial agreement and property settlement can be worked out. It’s important to ensure that you and the children are comfortable and cared for. Financial agreements and property settlement after divorce are final and binding on both partners. Any violation or failure to comply with the directives may result in heavy fines or punitive action.

Competent financial advice can help you understand the impact of dividing financial resources and property in different ways.