The holiday period traditionally sees an increase in family conflict and some partners leaving relationships. An often thorny issue is how the property should be divided. There are 4 ways to achieve this:

1: Informal Agreement: Couples may reach an informal agreement on division of property. This however provides you with very little protection if your ex later decides he or she wants more.

2: Consent Orders: A lawyer can help you negotiate with your partner (or their lawyer) and agree on the proper division of property. Orders reflecting the agreement reached can then be drafted and provided to the Family Court. A Judge or Registrar will review the proposed division of property, usually “on the papers” without anyone having to attend Court, to ensure the terms of settlement are reasonable before making the orders agreed by the parties.

3: Binding Financial Agreement (“BFA”): A BFA is a contract between you and your ex on the division of property. You and your ex are both required to have your own lawyer advise you on the fairness of the proposed division of property. The Court is not involved.

4: Going to Court: If you are unable to agree on a fair division of property you can have a contested trial where each party gives its own evidence and ask the Court to make the decision. A Court trial is by far the most expensive process and routinely takes 18 months or longer. It should be avoided wherever reasonably possible.