Divorce property settlement examples Australia: Following the recent separation of billionaires Bill and Melinda Gates after 27 years of marriage, it has been reported that the couple chose to separate amicably and to privately negotiate their property settlement outside of the Court and public eye.
Upon the breakdown of a marriage or de facto relationship, parties can either negotiate and formalise a property settlement agreement privately (either by way of Consent Orders or a Binding Financial Agreement) or they can commence Court proceedings and ultimately ask a Judge to make the decision for them.
In Bill and Melinda’s case, the couple with a significant fortunate chose to formalise their financial affairs via their solicitors and in utilising Alternate Dispute Resolution.
This pathway best suited the Gates’ due to the ability to quickly and cost-effectively reach an agreement in private rather than commencing Court litigation, with lengthy delays as a result of the global COVID-19 pandemic.
Forms of Alternative Dispute Resolution, such as mediation and arbitration, are increasing in popularity to separating couples.
No matter the size of the pool or the number of issues in dispute, if both parties are focused on reaching an agreement and making reasonable concessions, they are likely to benefit from this process.
Here at James Noble Law, our Principal Charles Noble is an experienced family law solicitor and mediator who can either act on your behalf as your solicitor or be engaged to conduct a mediation. Either way, contact the team at James Noble Law today to schedule a free no-obligation 20-minute consultation to discuss your circumstances.
Article Source: Divorce Property Settlement Examples Australia – https://jamesnoblelaw.com.au/which-way-to-go-for-divorce-property-settlement/
