There's no changing the fact there is one pie to divide between you and your partner. But when you work together with your partner, you can determine how big that pie ends up.

How does the law help determine a "fair" financial split?

The law says that there are four steps to determine a “fair” split of a couple’s assets, debts, superannuation, and resources after they separate. We detail these four steps below.

The 4 Step Process

STEP 1: What is there to divide?

Identify any and all assets, debts and superannuation existing in individual and joint names.

STEP 2: How did each person contribute?

How did you each contribute financially, non-financially, parenting and household chores?

STEP 3: What does the future hold?

What does the future hold for you both? How has the relationship impacted your future?

STEP 4: Is it overall ‘fair’?

In all the circumstances, is the proposed split of the pie between you and your partner appropriate?

Making your financial separation agreement official

You don’t have to make your financial separation agreement (aka property settlement) official.

If you do want to, there are ONLY two legally recognised ways you can do it.

Binding Financial Agreement

A legally binding and enforceable agreement which requires you and your partner to get independent legal advice.

Court approval is not required in order for the agreement to be valid.

Financial Consent Order

A legally binding and enforceable agreement requiring the Court’s approval.

The Court will only approve your agreement if it’s determined to be “fair” in the eyes of the law.

Why make your financial separation agreement official?

Peace of mind

Your financial ties are cut for good. Anything you own, inherit, accrue or win, is yours free and clear of your partner making a claim.

Save money

Save money with available stamp duty concessions on the transfer of shares, vehicles and real estate, and get capital gains tax rollover relief.

Get on

No longer feeling financially vulnerable, you can get on with your partner and life without fear of come back. With certainty of terms and clear timeframes, there can be consequences if the agreement isn’t followed.

Split Super

Have the ability to split superannuation to appropriately look after yourself and your partner, without relying on ‘spouse contributions’.

What are the major differences?

Binding Financial Agreement

Parenting Consent Order

Want to make your financial separation agreement official?

Ways to agree

If you and your partner don’t yet have an agreement, there are plenty of ways you can go about reaching a financial separation agreement that does not involve Court.

The Ultimate DIY Financial Split Kit

The Ultimate DIY Financial Split Kit provides you with the practical tools and resources to work together with your partner to agree.

Talk it out

This is sometimes referred to as ‘kitchen table’ discussions between you and your partner direct.

Private mediation

You and your partner work with a neutral third person mediator, to help you agree.

Child expert help

You and your partner meet with a child psychologist to help you agree

Letters by lawyers

Engage a lawyer and through written communications, negotiate an agreement with your partner or 
their lawyer.

Lawyer mediation

You and your partner engage lawyers and participate in mediation to agree.

Collaborative family law

Each be represented by a lawyer and participate in structured meetings to work together as one team of four, to reach an agreement.

Common Questions

You and your partner are under a legal obligation to provide what’s called ‘full and frank financial disclosure’.

It means that you have a duty to one another to disclose all assets (i.e. cash, cars, real estate, shares, crypto and the like), debts and superannuation.

If your partner is unwilling to give you the information you’ve asked for, consider drawing to their attention the Court’s Duty of Disclosure brochure that explains more – CLICK HERE.

If you know the name of your partner’s super fund, then you can apply directly to the superfund for information about your partner’s superannuation balance.

Superannuation is splittable – meaning that you could receive a super split from your partner’s super fund and vice versa.

There is no legal requirement to divide superannuation; you and your partner can agree that you’ll keep your own.

However, if you’re considering not splitting superannuation or you’re interested in a cash-superannuation trade-off, consider getting financial planning advice. Such a decision can impact you significantly in the long term, more than you appreciate right now.


Child support is a separate matter to your property settlement (aka financial separation agreement).

No, there is no legal requirement to make your financial separation agreement official.

There are financial and emotional reasons for doing so though.

If you’re inclined to make your financial separation agreement (aka property settlement) official in a Binding Financial Agreement, then you must engage a lawyer for the required independent legal advice.

You may come across online Binding Financial Agreement templates for a cheap price. But buyer beware. These online templates tend to be riddled with problems and your lawyer may refuse to use that template.

Because the Court is the check and balance as to the “fairness” of a financial separation agreement, legal advice is not required for a Financial Consent Order. In that sense, lawyers are optional.

However, the paperwork involved to make your financial separation agreement official is complicated and difficult. The Court doesn’t make it easy! This is where we come in and can help.

the Split

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