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How does the Family Court treat property owned by a discretionary trust? Is the property owned by a discretionary trust considered property available for distribution between parties to a family law property settlement?
January is the time of year that most people chose to separate and start the divorce process. Here are some of the key reasons why they chose to end a marriage at the beginning of the year.
In the 2019 case of Jabour v Jabour, the husband acquired a part interest in two blocks of land prior to marrying the wife. At the time of the trial the rezoned land was valued at $10,350,000 and constituted the majority of the value of the asset pool. The trial judge ordered that the husband receive 66% of the non-superannuation assets and the wife 34% taking into account the husband’s initial financial contributions.
There can be a lot of uncertainty around whether a couple is in a de facto relationship. A person is in a de facto relationship with another person (irrespective of gender) if they have a relationship with that person as a couple living together on a genuine domestic basis, having regard to all the circumstances of their relationship.
The Australian Law Reform Commission released its review of the family law system in March 2019. The review made 60 different recommendations for change to the current system.
The Court has a wide discretion about how they deal with inheritances received during a relationship as well as after separation when making property settlement orders. Inheritances are not a protected category of property and will not automatically be treated differently from other assets available for distribution.
In Victoria, Orders with respect to parenting issues and/or property matters can be made pursuant to the Family Law Act 1975 (Cth), in either the Federal Circuit Court of Australia, or the Family Court of Australia.
A parent cannot relocate to another country with the children of the relationship without either the other parent’s consent or an order of the Court permitting him or her to do so.