There are many reasons why a couple should come to a property settlement arrangement sooner rather than later after they separate. One of the more compelling reasons was highlighted in a recent Full Court decision where the parties had been married… Read more Don’t delay Property Settlement after Separation
In a recent Full Court decision (October 2017) of Tomaras & Tomaras and Commissioner of Taxation, the Full Court was asked to determine a question stated in relation to proposed Consent Orders that a Husband and Wife had sought by way… Read more My Tax Debt is now Yours
“I do…for richer or for poorer” is no longer the reality in modern relationships. In recent decades there has been a rise of relationships where the parties remain emotionally together but financially separate. The unhinging of the notion of “what is… Read more What is Mine is Mine and What is Yours is Yours
Family lawyers often hear things such as: “My wife has the kids…I guess she gets 60%?” Is there any truth to such statements? Yes and no – but mainly no. After a Court has identified and valued each parties’ interests and… Read more Adjustments in Property Settlement Relating to the Ongoing Care of Children
“It is now, clear, that not only is the identification of each and every proprietary interest and resource necessary, together with a proper basis to estimate of value, but also, what needs to be disclosed to the other spouse is all… Read more “INFORMED” CONSENT CRUCIAL FOR FAMILY LAW FINANCIAL SETTLEMENTS
A recent Judgement by the Full Court in Rodgers & Rodgers highlighted a problem with a common misunderstanding about the calculations of future maintainable earnings and how this should be treated when assessing a husband or wife’s ongoing income earning capacity.… Read more UNDERSTANDING FUTURE MAINTAINABLE EARNINGS AND THE ASSESSMENT OF THE FUTURE INCOME CAPACITY OF A SPOUSE – THE DANGERS OF DOUBLE DIPPING
There is a common misunderstanding that everything one brings into a marriage or de facto relationship remains their property absolutely in the event of any future separation. Under Australian Law, that is not the case. Instead, upon separation, the Law says… Read more THE IMPORTANCE OF INITIAL CONTRIBUTIONS IN FAMILY LAW PROPERTY SETTLEMENT
In Family Court property settlement disputes, a spouse’s interest in a Superannuation Fund must always be identified and valued. However, there is no necessity for that interest to be split and there are different ways in which a Court can treat… Read more Is Superannuation always Split in Family Law Property Settlements?
Step one in any family law property settlement is to identify and value the current assets and liabilities for each party, including any superannuation interests. The second step is to identify and assess various types of contributions made by each party… Read more MUST THERE BE A CAUSAL LINK BETWEEN CONTRIBUTIONS AND PROPERTY IN FAMILY LAW FINANCIAL MATTERS?
Part 4 – Finalising the Property Settlement Deal This is the final part of the 4 part series on Understanding the Basics of a Family Law Property Settlement. To read parts 1, 2 and 3 please click here Part 1, Part… Read more UNDERSTANDING THE BASICS OF A FAMILY LAW PROPERTY SETTLEMENT Part 4