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Why do I need Orders or a Financial Agreement for property settlement?
Without the protection of a Consent Order or a Financial Agreement documenting the transfer of property or superannuation between parties on the breakdown of the relationship there is a risk that the other party will make a further claim in the future. The risk is higher for married people who separate but do not divorce for many years as they can make an Application for property adjustment in the Family Courts at any time until the first anniversary of the divorce date.
Orders are enforceable by the Court if something goes wrong and a party can seek enforcement of a term in a Financial Agreement through the Court System if required.
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