Property & Financial

Penny Wise Pound Foolish

Transferring Property without Legal Advice When couples mutually decide to separate, they also often try to divide their assets and liabilities without seeking legal advice regarding their future vulnerabilities such as the tax implications resulting from their financial settlement. In the end, failing to obtain legal advice can be an extremely costly exercise particularly if …

The Cardinal Sins of Family Law Matters

Going through a relationship breakdown is one of the most difficult things a person can go through. Aside from the emotional turmoil that inevitably accompanies a relationship breakdown, you will find that EVERYONE is a family law expert- your friends, the internet and your family often provide [well-meaning] incorrect advice. Here are some very specific …

Overseas Property – not necessarily out of reach

A recent decision in the Family Court in Melbourne demonstrates the power of the Australian Family Court to make orders about people who are not living in Australia, and about property that is not in Australia. A couple had spent 15 years living together and married but have never lived in Australia. The Wife an …

Lottery wins and family law property settlements

The recent case of Elford [2016] FamCAFC 45 considered how lottery ticket prize money would be treated in a property settlement. In this case: 12 months into the 10 year relationship, the Husband won over $620,000 on a lottery ticket; He had been using the same numbers each week for some 8 years before the …

To disclose or not to disclose, where is the question?

Chapter 13 of Family Law Rules 2004 deals with the duty of disclosure. Pursuant to Rule 13.01, parties in family law negotiations are obliged to make full and frank disclosure of their financial circumstances in a timely manner. The duty of disclosure is an ongoing duty. Parties must disclose all relevant documents and continue to …

Child Support Obligations

Despite parties severing all ties after separation or divorce as parents they have an ongoing obligation to support their children financially until, in most cases, the child reaches 18. This obligation is governed by the Child Support (Assessment) Act, and administered by the Child Support Agency (CSA). Assessment Either parent or a non-parent carer can …

How Much Spousal Maintenance Am I Entitled To?

After the breakdown of a marriage or a de facto relationship a person may find themselves in a weak financial position after the financial support once provided to them is withdrawn or decreased. This change in financial support can leave a person in a situation where they are unable to support themselves. Additional circumstances may …

The importance of Family Court Orders in your property settlement

So you have recently separated from your de facto partner, husband or wife. You sit down together and manage to come to an agreement about how your assets should be divided and who should be responsible for your liabilities. Things are going well. Now all that is left is completing the necessary transfer paperwork and …

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