Can you tell me how much it will cost me to get a Consent Order?
A number of lawyers are now charging a fixed fee for preparing Consent Orders. However, the fixed fee that they charge can vary greatly depending on which lawyer they are working with. It is quite common for lawyers to charge a fixed fee based on a level of negotiation between the parties prior to signing off the Consent Order. The fee charged will also reflect the cost of independent legal advice that is needed by the parties. Legal fees associated with the preparation of Consent Orders are not uncommon to be within the vicinity of $5000-$6000.
This is because many lawyers charge a fixed fee based on the possibility. That the matter may become protracted and take some months to conclude. Kate Austin Family Lawyers works on the assumption that you will not require independent legal advice from us. And our fixed fee is based on the assumption that you and your former partner have reached an agreement. Regarding your property settlement or the future care arrangements for your children, this agreement has been signed. As we do not interfere with your agreement and draft it simply on the basis of the information you provided, we don’t interfere with your agreement.
It is generally far cheaper to prepare a consent order than to prepare a binding financial agreement. Particularly as both parties are required to obtain independent legal advice in relation to a binding financial agreement. Which can add considerable costs to the process. Additionally, Binding Financial Agreements may be much more comprehensive than Consent Orders, resulting in additional expenses as well.
In your opinion, what are some of the advantages of signing consent orders?
It is fundamentally important that both parties sign off on Consent Orders. So that they have peace of mind that their agreement has been finalized and formalized. It is then impossible for either party to come back at a later date and request changes to the Consent Orders that have already been made unless the other party is also receptive to them.
Many people worry about the possibility that their future income will be taken away from them by the other party or that if they purchase a house on their own or with a new partner in the future, the other party will come back and take half of that house from them. There are those who worry that while they are currently on good terms and the shared parenting arrangement is working if the other person decides to re-partner or perhaps wishes to relocate then this may have an adverse effect on the agreement that has already been established. There is no obligation for the parties to follow the agreement, and this can lead to a precarious situation if the circumstances of one party change and they are no longer able to agree to the arrangement that was previously in place.
Consent Order
In order to resolve these concerns, you should lock your agreement into formalized Consent Orders. It is more likely that neither party will be able to simply decide that they will no longer comply with the Consent Orders after they have agreed to them. In addition to that, there is a significant saving in stamp duty if parties wish to transfer real estate from joint names to one party’s name since if there are no Consent Orders in place, stamp duty will be payable on the transfer of the real estate.
In your opinion, what are some of the disadvantages of signing consent orders?
Our experience has shown that obtaining Consent Orders usually has no disadvantage in terms of financial benefits. In spite of the fact that Consent Orders do cost money to prepare and require the assistance of a solicitor, most parties find that the financial advantages and peace of mind that come from obtaining Consent Orders far outweigh any downside.
However, there is a possibility that a Consent Order pertaining to spousal maintenance can in some circumstances. Be altered by the court despite the fact that it might be part of your Consent Orders, to begin with. There are very specific criteria that the court must be satisfied with in relation to spousal maintenance applications. It is therefore not as easy to have Consent Orders pertaining to spousal maintenance overturned. However, it can be done.
A binding financial agreement may be the best option for one or both parties if spousal maintenance is a significant issue for them. It is more likely, however, that if both parties cannot bring a claim for spousal. The maintenance against the other party in the future through the Family Court, will more than likely prevent the two parties from doing so. The advantage of having Consent Orders in place, however, is that there are very few disadvantages.
If you require assistance from a Family Lawyer in Adelaide or Sydney please contact Kate Austin Family Lawyers. We would be pleased to assist you with your Consent Orders.
