Family Property
& Financial Mediation
Separating couples often need to make important decisions about their home, finances, superannuation, debts and other property. Family property mediation provides a structured and confidential process in which both parties can clarify their perspectives, consider their priorities and negotiate a practical settlement.
Mediation can be conducted with or without lawyers present. You can also obtain independent legal and financial advice outside the mediation session. Sessions can be conducted as same-room or 'shuttle' mediation, either in person or online. Any agreement reached can be recorded as a Mediation Heads of Agreement and then filed as a binding consent order or a Binding Financial Agreement.
Areas we can help with:
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The family home and investment properties
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Urgent expenses and interim financial arrangements after separation
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The transfer or sale of jointly owned property (i.e. 'buy out' or sell agreements)
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Family businesses, companies and family trusts
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Superannuation
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Loans, mortgages and other liabilities
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Loans between family members
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Ongoing post-separation expenses and child-support
Family Property Mediation
The Process
Family Property & Financial Mediation is a simple step-by-step process designed to help separating couples reach fair and workable agreements so that they can move on with their lives. You can attend in person or online, and with or without lawyers.
Step 1: Attend a Confidential Pre-Mediation Interview
The mediator will speak to you and your former partner separately at a confidential pre-mediation interview. This session is conducted online via videoconference. The purpose of the interview is to allow you to meet the mediator and ask questions. The mediator will also clearly explain the process and the next steps that you will need to take to finalise your Family Property & Financial settlement. These may include valuations of family property, businesses & superannuation.
Step 2: Full Disclosure & Exchange of Financial Information
The mediator will outline the timetable for disclosure & exchange of financial information prior to your mediation session. This step usually takes place one to two weeks prior to the mediation session to give parties, or their lawyers, enough time to review each other's balance sheet and disclosure documents. This step in the process involves all parties making a full and transparent disclosure of all of their financial information, and it will usually include property assets, business assets, bank accounts, superannuation, overseas assets, share portfolios, as well as liabilities such as mortgages and credit cards.
Full disclosure & exchange is an essential step in the Mediation process.
Step 3: Attend the Mediation Session
Both parties attend in person or online for a joint session of mediation. The mediator will help you use your time well by keeping you on track while you explore the issues, examine options and identify possible solutions. There will also be breaks when you can speak privately with the mediator and your lawyer, if he or she is attending. Depending on the number of issues and their complexity, more than one session may be required to work through the dispute. However, our mediators aim to reach a final settlement in one session.
Step 4: Reach an Agreed Outcome
Agreements reached in Family Property & Financial mediation are usually formalised into legally enforceable consent orders or Binding Financial Agreements (BFAs). Once approved, consent orders have the same legal effect as if they had been made by a Judge of the Court.
Jack Ellis is our Family Property and Finances Mediation specialist. Kerry Gottleib is also a skilled property and financial mediator.