When a marriage or de facto relationship breaks down irretrievably, one thing that needs to be done to enable the parties to move on with their lives is to divide up their assets.
Certainly there is the possibility that a dispute between parties over the division of property can end up in court, with the inevitable stress, time, and cost that this entails. Hence, parties will usually be advised to try and get the matter settled out of court by coming to an arrangement regarding the division of property through a Binding Financial Agreement or so- called “Consent Order” (a binding court order reached by consent of the parties, without the need for the parties to physically go to court).
To read more click on the link below:
http://www.pakenhamfamilylawyers.com.au/pdf/FinancialAgreementsArticleBVN.pdf