To formalize parenting arrangements, parties may use consent orders. As long as you have dependent children, under the age of eighteen, such orders are unlikely to be truly final. Many families will draft orders that cater to the children’s ever-changing needs as they grow older and transition from daycare to primary school to high school. A parenting order may therefore be as final as it can be, although it may not really end until the children are adults.
In contrast, a financial consent order is preferred by the courts because it is very definite, and very final. All assets should be divided and distributed between the parties, so that they no longer have any financial ties to one another and can live independently.
The benefit of finalizing your financial affairs through a consent order is that it is a final decision. As such, it is the most certain way to allow each party to move forward separately since there are limited circumstances in which a party can return to court and request different orders. When entering into new financial obligations and responsibilities, such as buying a new home or starting a business, without a consent order, it can be risky. It may be possible for your former partner to seek some interest in your newly acquired wealth if no consent order is made, as these assets are potentially included in the property pool belonging to you and your former partner.
As a result, we strongly recommend that you obtain a consent order as soon as possible, so that you can move forward without fear of your former partner claiming your assets.
Disclaimer
This material belongs to Kate Austin Family Lawyers. The information provided here is general in nature and should not be construed as legal advice. We strongly recommend that you seek detailed specific advice from a qualified lawyer before relying on any information in this e-book or on our website.
Alternatively, you may contact us, request a call, or visit our website www.kateaustinlaw.com.au for more information.
Our firm specializes in family law. Our head office is in the Brisbane CBD and we also have an office in the Canberra CBD. We act in all family law matters, but specialise in fixed fee matters for clients who have reached an agreement with their former partner and wish to have it documented.
