Power couples and how they avoid court
This month, Mary McIver, a senior solicitor at Pippa Colman & Associates Solicitors writes about how we can approach separation like a “power couple” and avoid the expense of going to court.
Power couples often work together sharing ideas to improve their business and lifestyle, compromise and support each other’s interests and ambitions so that each person can shine doing what they do best.
Hollywood is full of “power couples” as is our local community. Look at any successful family or small business and you will see a power couple working together towards common goals. Sometimes the stress and strain of being a power couple – high expectations, long working hours and financial stress of funding a certain lifestyle – can unravel the best and strongest of relationships.
A couple of months ago, we wrote about Binding Financial Agreements and how they can be put in place at the beginning or during a relationship which will enable a couple to separate with dignity and financial security.
Power couples often separate when the relationship stops working but before the relationship becomes toxic and destructive.
Sometimes the stress & strain of being a power couple – high expectations, long working hours and financial stress of funding a certain lifestyle – can unravel the best and strongest of relationships.
On separation, wealth acquired during the relationship has to be shared. If there are children, suitable living arrangements must be agreed upon that are in the best interest of the children.
Sometimes with power couples, one partner may feel they have created the wealth and should receive the majority share. This is not the case. Legal advice is key to understanding that financial and non-financial contributions by both parties are considered when negotiating a property settlement. This can be a difficult concept to grasp for some. An imbalance of power within a relationship is the most common factor which sees couples in court.
Once agreement has been reached, settlement can be finalised in a civilised, efficient and very cost effective manner by Consent Orders and/or a Binding Financial Agreement, with both parties avoiding having to go to court (and the expense) to settle their separation. Consent Orders or Binding Financial Agreements are Family Law documents which record the agreement between you for property and can include agreement regarding arrangements for children.
Power couples often treat separation with the same forward planning and consideration of each other’s needs as any other business decision. They are often protective of their public image and can reach agreement without the expense and trauma of resorting to court proceedings.
To avoid court, both parties need to adopt a mature and reasonable attitude. They need to let go of trying to blame and the negativity it attracts. They need to focus on negotiating and mediating to reach the best outcome for everyone concerned, especially the children.
The money that can be saved by avoiding court can be better spent on you and starting your new life.
For further details contact Pippa Colman & Associates Solicitors on
07 5458 9000
12/64 Sugar Road, Maroochydore Qld 4558