Getting a divorce in Australia only costs less than $400. That is unless you are a prisoner, pensioner, 18 years of age, have received some type of legal aid, or fall under other specified categories. In such cases, court applications are free of charge.
The minimum divorce fee applies to divorces that do not involve disputes. Couples simply shake hands and then walk away. If the application involves properties or children, your bill can go up to almost $500. If you’ll need a court order variation, you’ll need to add a little over $100. And the hearing fee for defended matter is around $400.
Also, keep in mind that the court fee is just the launching pad for legal settlements and costs, which could catapult from thousands of dollars to about $100,00 or even more, by the time the financial affairs of the couple are involved. Property settlement will decide who receive what.
Once property settlement is agreed, settlement agents Mandurah could provide expert advice and guidance as well as consolidate necessary finance to bring about an agreed plan for the divorce.
The very fist thing to settle is the house. If you are selling it, it’s best to do so before the divorce. This is especially helpful especially if your former spouse still stays in the house during the court hearings. If your ex does not agree with selling it, he or she could indefinitely drag out the sale. For the meantime, you’re responsible for the defaults and payments for the house. If possible, the house must be be vacated before the listing.
A good option is refinancing. But keep in mind that you can not just call your bank and ask for both you and your ex to be taken off your mortgage. There should be formalities that should be carried out.
If both selling and refinancing aren’t feasible, never think about taking your name off the title. Doing this will relinquish the ownership of the property but not the responsibility for the home loan. This means you won’t be able to claim your share of equity. Also keep in mind to give your loan provider your new mailing address and ask that you be notified if repayments get behind.
If you’re selling your vehicle to a third party, it’s also best to do this before the divorce. When the car is sold, see to it that the finance is fully paid off. While the car is not yet sold, you’re still responsible for the payments. If both you and your ex decide to keep the vehicle, it’s best to have it refinanced under one name. If you have to keep the title but you’re not using the car, see to it that you’re not the vehicle’s registered owner, otherwise you could find yourself under a queue of unpaid traffic or parking fines.
Many people assume that closing out credit cards is the way to end it. In reality, a credit card account isn’t closed unless all balances are fully paid. If you are not able to pay off joint credit card accounts, the solution could be obtaining individual credit cards where certain agreed amounts will be transferred.
Here’s a good tip, the more you settle between you and your spouse without the involvement of third parties, the faster, cheaper, and easier the separation will be. Funding the property settlement in the best and most economical manner is where professionals could really make a huge difference for you to have peace of mind.