The 50/50 rule: fact or fiction? The ‘50/50 rule’ is a fallacy within the realm of family law property settlements. There is no mathematical formula you can apply to the division of property. There is, however, a time and place for a 50/50 division of property.
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Clients can be surprised to learn that assets received by way of an inheritance are not automatically immune from a property division and are also included in the pool of assets, in the first instance. However, there are a number of factors the Court can consider when contemplating how assets received by way of an inheritance should be treated, when considering the parties’ respective contributions to the property pool.
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Trust issues regularly arise in property settlement cases in the Family Court, particularly because many Australian family businesses are conducted through a discretionary trust structure.
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Family breakdown and the consequent legal proceedings which may follow is one of the most distressing life events people can experience. The reality is that anxiety, depression and other forms of mental illness are common amongst parties who find themselves in the family court system.
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Now more than ever the Courts, the lawyers and the parties are turning to mediation as a means to resolve their disputes.
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According to AUSTRAC, financial abuse is a form of family and domestic violence and will be experienced by over 2 million Australians over their life-time, with 63% of women experiencing financial stress being victims of financial abuse.
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Thinking about embarking on the road to separation is bound to raise in one’s mind many pertinent questions about which there can be economically vitally important answers. Read on to find out the answers to the top five most frequently asked questions by a new client in this situation.
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Separated parties across the country are pondering the question of how to proceed with their property settlement. Should I hold or should I go? In the current environment there are a number of considerations to be taken into account.
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There are many sources for information about your legal rights following separation. Well-meaning relatives, friends and some lawyers whose specialty is not family law may give you advice about your issues. However, problems arise because the law and procedure can be complicated and your friends’ solutions are unlikely to have factored in your unique situation.
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Sexually transmitted debt is when you become liable for your partner’s debt as a result of the breakdown of your marriage or de-facto relationship, rather than a conscious knowledge or acceptance of the debt.
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