Divorce Before Property Settlement?
In this video, Accredited Family Law Specialist and Page Provan Special Counsel Jitesh Billimoria explains whether one needs to be divorced to have a property or financial settlement.
Today I want to talk to you about whether one needs to be divorced to have a property or a financial settlement.
The simple answer is one need not be divorced to have a financial settlement. One can document a financial settlement by way of financial agreement or consent orders.
Now, in terms of divorce, one can only be divorced if they have been separated for twelve months and not prior to that. If one therefore wants to agitate financial settlement or a property settlement or a matrimonial settlement before one is divorced, then that would be a good idea to do so.
Because once the relationship has ended, the sooner the matters are dealt with and hopefully at that time the parties are in an amicable place, then the better it is for the parties to close the financial relationship and continue their lives.