Did you know that there are limitation periods that apply to property settlement and spouse maintenance proceedings for couples who have separated after a defacto or marital relationship.
If you haven’t reached an agreement or filed an Initiating Application in the appropriate Court within one (1) year of your Divorce becoming effective, or in the case of couples who have lived in a defacto relationship within two (2) years of their final separation date, you no longer have a right to commence proceedings for a property settlement and/or spouse maintenance. There are provisions to have those limitation periods extended with the leave of the Court, however, separated parties should not assume that leave will be granted.
The limitation period is one example of the many factors that need to be considered when separated couples are working through the finalisation of their financial relationship.
Obtaining legal advice about your specific situation is important and we can provide advice on all aspects of Family Law, including Property Settlements, Divorce and Children’s matters.