Case Study 1
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Things to Consider
Items to Collect
Children and Separation
Children - 10 Things to Keep
Your Legal Preparation
Property Settlement - Property Concilliation Conference
A property conciliation conference is an opportunity for parties to a former marriage or de facto relationship to settle their property dispute on their own terms.
Armstrong Legal encourages our clients to resolve their property disputes in the most cost effective and expedient manner possible. If property conciliation conferences are approached with genuine effort by both parties they can lead to positive outcomes and reduced legal expenses.
What needs to be done prior to a property conciliation conference?
To make sure the time spent in conciliation is utilised properly, both parties must hand over information to the court and to each other prior to the conference.
In financial matters, both parties must exchange relevant financial documents. These must be exchanged at least 2-days prior to the case assessment conference. These include:
- Superannuation documents
- Each party’s three most recent tax returns / assessments
- For a corporation / trust / partnership where the party has a duty of disclosure, financial statements for the last three years
- Party / corporation / trust / partnership with a duty of disclosure, any business activity statements for the twelve months until the first court date
- Trust : the trust deed
- Partnership : the partnership agreement
- Corporation: most recent annual return listing directors and shareholders. Also the corporation’s constitution
- A market appraisal of any item of property to which a party has an interest
At the case assessment conference, the Court will give you instructions about what must be before the conciliation conference. The instructions include that, within 28 days after the conference, each party must, exchange documents relevant to the financial issues as the registrar orders. The documents required may include documents which should have been exchanged prior to the case assessment conference but have not yet been exchanged and any other documents required containing evidence about.
- The financial matters outlined in your and the other party’s financial statement
- Financial contributions made when the parties began living together
- Any inheritances, gifts or compensation payments received after the parties began living together
- Any purchase or disposal of property in the 12 months prior to and since the separation and any increase or reduction of liabilities since separation
- The value of any superannuation interest of a party, including the basis on which the value has been calculated and any documents used to work out that value.
- File and serve a financial questionnaire (link) within 21 days after the case assessment conference
- Prepare with the other party and file a balance sheet as follows – in summary.
- The applicant must prepare and send to the respondent an initial balance sheet within 28 days (it may be sent electronically)
- The respondent must prepare and send an amended balance sheet within 21 days after receiving the initial draft
- The applicant must then complete the balance sheet and file it with the Court within a further 14 days.
Note –Full disclosure of all documents and relevant facts to the court is essential.