Check these details before applying for consent orders

Leaving gaps in the financial picture

Check accounts, property, liabilities and superannuation rather than listing only the assets changing hands. Use supporting information and make sure both people understand the values used.

If a figure is uncertain, resolve it or seek appropriate help. Guessing to get the paperwork finished can create a bigger problem later.

Agreeing a percentage without a workable plan

Write down how the division will be implemented: who pays, who transfers, what happens to a loan and when each step occurs. An intention to refinance is different from confirmation that a lender will approve it.

Check that the asset allocation adds up to the outcome you intend. Consider transaction costs and the different accessibility of cash, home equity and superannuation.

Copying terms from a different situation

A sample clause can look familiar without fitting your asset, fund or transaction. Different circumstances can require different wording and additional steps.

Use examples to understand the structure. Have the actual proposed terms checked where your situation or package calls for it.

Skipping the final review

Before signing, compare the final documents with the agreement and the supporting figures.

• Check names, dates, account details and ownership.
• Check the current version is the one both people have reviewed.
• Confirm any necessary fund or third-party involvement.
• Understand the fee, filing pathway and follow-up responsibilities.
• Keep copies of the signed documents and the sealed orders.