How is debt split in divorce A divorce can be a challenging time in a person’s life. Add debts in divorce and trying to figure out how is debt split in divorce and you’re in for a real-life nightmare. When a separation and subsequent divorce takes place, the couple’s assets are divided in a property …
In a divorce, the division of marital assets can become a highly contentious issue, especially if you and your former spouse are disputing the importance of your inheritance and divorce. Inheritance and divorce do not always work particularly well together and can cause much conflict. The best way to ensure things run smoothly is to …
If you are going through a difficult marital separation and divorce, you may wonder whether you can change the locks on your husband in the marital home, essentially locking him out. The way the Family Court system treats this issue is not straightforward. The process will be vary depending upon whether the premises are owned …
This article will explain when is a loan considered a gift and how that distinction is treated by Australian Family Law Courts. Confusion can easily arise in families particularly when one person gifts another an expensive item, piece of land, or amount of money. It is not unusual for parents to seek to help their …
How does joint tenancy work during a divorce? In Australia, most married couples typically own property such as real estate as joint tenants in equal shares. So, how does joint tenancy work during a divorce? In the context of separation and divorce, most people think about joint tenancy in relation to real estate but the …
Bankruptcy and Family Law: What Happens If My Ex Becomes Bankrupt? If your ex becomes bankrupt, it is crucial to know how bankruptcy and family law intersect and what financial impact their bankruptcy will potentially have on you and your children. With many Australians currently finding themselves out of work, the incidence of people …
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Divorce, Property Division and The Erosion Principle If you are looking to get a divorce, you may have been advised that your initial contributions may be subject to the family law erosion principle. While a divorce will legally end your marriage, it does not necessarily end disagreements about property division or child custody. What …
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Can my ex claim my inheritance? If you receive an inheritance over the course of your relationship, that inheritance may be included in you and your ex’s asset pool. If one of the parties receives an inheritance during the course of the relationship, then the inheritance will be considered as property in a property settlement …
The Federal Circuit Court in Sydney has introduced the ‘Discrete Property List’ designed to streamline matters that are for financial orders only. The purpose of this is to promote a just resolution of disputes with minimum delay and expense. Previously, property cases have been listed before a judge of the Federal Circuit Court on the …
When going through a property settlement, you should understand how capital gains tax and family law property settlements intersect with one another. Do you want to be left with a fat tax bill payable to the ATO after your property settlement? Probably not. Capital gains tax is rarely at the forefront of a separating couple’s …
