Property settlement lawyers in Sydney are valuable community assets as they liaise between various duties and advocate for their client’s rights and responsibilities within the legal system.
Spanning Balmain to Castle Hill, Bronte to Circular Quay and Liverpool to Queenscliff, these specialist solicitors undertake important duties depending on their classification and association within a firm.
The benefit of having these experienced operators on hand and in the corner of a client extends far beyond the consultation and negotiation phase, allowing for individuals to save big on their financial commitments and retain possession of valuable assets.
Here is how they work their magic for the people of Sydney.
Extensive Services Relating to “Property”
Just like how a custody lawyer works with regards to custody arrangements, it is a preconception that property settlement lawyers in Sydney only deal with homes, rental properties and investments regarding real estate. In fact, these operators span other parameters in the field as they will represent their client’s interests that necessitate anything that can be legally constituted as “property.” This can span money, business interests, superannuation accounts, vehicles, inheritance, pets and any other assets that can fall under this definition.
It should be noted that these solicitors can extend their reach to items or assets that were acquired before or after a separation, increasing their remit beyond a marriage. They also have the ability to include liabilities as part of any agreement, making arrangements over tax, loans and debts.
Work Within Strict Time Parameters
Property settlement lawyers in Sydney only have 12 months to operate for their client following a divorce or 24 months for those that have officially ended a de facto relationship. No spouse can continue with legal proceedings if they violate these time periods, placing added pressure on individuals to make a calculated decision on the action they wish to take. This is where scheduled consultations between representative and client hold so much weight, allowing both parties to outline the process and see if they want to take certain actions within that specific window of time.
Attempt To Always Avoid Court
Property settlement lawyers in Sydney very rarely need to show up for an official court date. This is due to the nature of the proceedings as there is a strong emphasis and expectation that both parties will look to strike an agreement that is satisfactory for each side. Trails cost the state and the clients a significant bill, so a representative will push hard and advocate for a more conciliatory approach.
Whilst avoiding court and a trail is one of the main objectives that property settlement lawyers in Sydney want to reach, it is the official consent order that allows agreements to be made official. This takes place when each spouse makes concessions and agrees to terms on the division of assets that have been fought over, allowing everyone to move forward and beyond the conflict. Yet these consent orders are legally binding and a solicitor will have the expertise to impose these conditions and stipulations on a spouse if they violate those rules.
Benefit of 100% Stamp Duty Relief
There is a major concern for many clients that they won’t only be footed a big bill by their solicitor, but they will have to bare the brunt of added fees when it comes to real estate transactions and transfer fees. Property settlement lawyers in Sydney work under the benefit of 100% stamp duty relief, ensuring that any transfer of real estate won’t incur added fees for the spouse. This is peace of mind for the individual and a ruling that even extends to the deferral of capital gains tax to alleviate the financial stress further.