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Family law consent orders
A consent order is a written agreement that is just and equitable and approved by the court. The consent order can include how you and your partner will divide your property, other assets and debts, and who will have custody of your children.
You don’t need a lawyer to draft up your agreement or represent you in court, but it’s often a good idea to get some advice on consent orders.
Binding financial agreements
If you and your partner agree on your property settlement, you can choose to have a binding financial agreement instead of a consent order. This doesn’t need to be approved by a court but you must still follow it. There are specific things that you must do before a binding financial agreement is valid, like get independent legal and financial advice. You can find out more about binding financial agreements here.
One of the assets that you may share is superannuation. Superannuation splitting, means one of you divides your superannuation and rolls part of it into the other’s superannuation fund. You will then be able to access it in the same way that you can access the rest of your superannuation. There are special rules and processes that apply to superannuation splitting and it may not always be possible to divide it.