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The superannuation splitting laws allow separating couples to value and divide their superannuation after a relationship break down. Under the laws, one partner may split the amount remaining in their superannuation fund and make a payment to the other partner’s superannuation fund after separation.
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?
We list 5 keys considerations that will assist you, as accountants, when helping your clients through their family law property settlement.
If you operate a family business with your ex-partner, here are 6 important considerations you should read today.
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.
A partial property settlement is a distribution of assets or financial resources between separated parties in advance of final orders. The Court tends to be reluctant to make a partial property settlement because it takes place prior to evidence being tested before the Court.
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.
In determining if leave is to be granted to permit a party to commence property proceedings out of time, the court must be satisfied that hardship would be caused to a party or child of the relationship, if leave was not granted.