When you separate at the end of a relationship or marriage, you each have an obligation to provide information and documents to the other about your financial situation. This is a positive and ongoing obligation – so, handing over some … Read More
When a couple is going through separation, it is common for them to think about the property to be considered in a financial settlement. One type of asset which is often initially overlooked is the superannuation benefits of each party … Read More
It is no secret that property prices have risen significantly in almost every region around Australia over the last 12 months. An accelerated rise in real property value is usually a welcome event for property owners. However, for families experiencing … Read More
It is possible to obtain a divorce without a property settlement. Many people believe the term divorce includes all aspects of a family law matter, but this is not correct. A divorce is an order made by the Court that … Read More
‘Who should pay the mortgage when we separate?’ Issues regarding who should pay the mortgage payments on the family home or other properties which form part of the property pool, frequently arise between separating couples. The issue often needs to … Read More
How to find a divorce lawyer – 5 tips to find the right representation for you Going through a separation can be an emotional and worrying time. While the process has its challenges, finding the right divorce lawyer for your … Read More
Mistakes to avoid when separating For most people going through a separation, it is their first time, so it is not unusual to have no idea of the process to follow. It can be difficult to know if you are … Read More
By Chloe Curran As seen in the December 2016 edition of B2B Magazine Have you recently separated from your partner? Have you formalised your property settlement by way of a Consent Order or Financial Agreement? This article explains why you should … Read More
By Di Simpson Full Court Decision – Elford and Elford [2016] FamCAFC 45 (29 March 2016) For most of us, what we would do with lottery winnings remains something we can only dream about. However, what happens to those winnings … Read More
By Jacquelyn Curtis How can I get my name off a joint home loan? How can I get my ex partner to surrender the card to the credit card account? How do I have my car signed over to me … Read More
The Federal Circuit Court of Australia has recently announced a number of changes to their Rules. Of particular interest to family lawyers are the following: 1. Amendment to the Rules to make it explicit that the Court can make Orders … Read More
A relationship breakdown may be unplanned or unexpected. Often, it throws into chaos those plans you had to build a property portfolio or wealth with the support of your partner. You may not have made much headway into your mortgage. … Read More
On 30 July 2014, the ATO released Taxation Ruling TR 2014/5 – Income tax: matrimonial property proceedings and payments of money or transfers of property by a private company to a shareholder (or their associate). The ruling was previously issued … Read More
On 25 March 2014, the Board of Taxation released its second discussion paper on Division 7A of Part III of the Income Tax Assessment Act 1936 (“Division 7A”). Division 7A is an anti avoidance provision aimed at stopping tax-free distributions … Read More
Binding Financial Agreements (BFAs – sometimes colloquially known as “pre-nups”), are usually designed to protect assets owned by one member of a couple from a claim by the other member of the couple in the event of separation. Typically, BFAs … Read More
In a recent speech to the Women’s Super Summit, the ATO Assistant Commissioner, Megan Young spoke of the importance of Australian women thinking about and being interested in their superannuation. The fact that women’s super account balances are, generally, significantly … Read More
A recent decision of the Full Court of the Family Court has cast a shadow over the idea that the special skill or contributions of a spouse entitles them to a greater share of relationship wealth. This idea is known … Read More
Uncertainty relating to how inherited assets will be treated in property settlement proceedings under the Family Law Act is a cause for much anxiety. Emotional attachment to a family farm or a home that has been “in the family” for … Read More
The Australian Taxation Office (“ATO”) recently published Draft Taxation Ruling TR2013/D6. The ruling is, basically, a rewrite of the ATO’s opinion on the applicability of Division 7A of Part III (“Division 7A”) of the Income Tax Assessment Act 1936 (“ITAA36”) … Read More
A recent case decided by the Family Court in Sydney is a timely reminder for separating couples to formalise financial and property matters after separation. In this case, the wife won $6 million on lotto six months after separation from … Read More
Sometimes I meet a person who happily tells me that they have “sorted” their property settlement with their ex, informally, “just between us”. No paperwork, no orders, no lawyers. “We just did what we agreed”. That might sound pretty good … Read More
On 25 July 2013, Prue Cameron of The Australia Institute published a report titled “What’s Choice Got To Do With It?” tackling the reasons why Australian women retire with significantly less superannuation resources than their male counterparts. According to the research, … Read More
This week the Daily Telegraph, commenting on a survey undertaken by Suncorp, reported that of Australia’s 84,000 divorces, 86% failed to include the parties’ superannuation interests in the division of assets. Given the statistics regarding women already suffering from a … Read More
On 21 July 2012, 21 year old Ben Catanzariti was killed in a workplace accident on a construction site in Kingston. One year on, Ben’s parents have remembered his death with a memorial and by launching a campaign to raise … Read More
Since 2009, the Family Law Act has applied to property disputes between de facto couples including same-sex de facto couples. This has led to a raft of enquiries to family lawyers from clients who are in, or contemplating entering into, … Read More
Writing a will is vital, and in response to David Wilson’s June article in the Canberra Times, I’ll have to agree with him there. But that’s it. There’s value in seeking professional help when it comes to drafting your Will … Read More
Confused about requirements for getting divorced? Dobinson Davey Clifford Simpson, one of Canberra’s largest and most experienced family law firms, answers questions about divorce.
Court proceedings can be lengthy. While waiting for the final outcome, money and property may be tied up when you need it most. What can be done? It is possible to apply to the Court during property settlement proceedings for … Read More
When separating married couples use the phrase “getting a divorce” they usually mean resolving everything relating to their marriage – property division, care arrangements for the children, and a Divorce Order. In this article we outline what “getting a divorce” … Read More
There is sometimes confusion about how to divide assets when a marriage or de facto relationship breaks down. Here, we answer some common questions about the process of dividing assets.
Scenario: You and your former partner have separated. You have agreed how you will split your assets. You don’t think it is worth getting lawyers involved to “legalise” your agreement. Here are three very good reasons why you should.
There is sometimes confusion about how to divide assets when a marriage or de facto relationship breaks down. Here, we talk about how the Family Law Act deals with dividing assets of separated couples (also called a “property settlement”).
Reaching an early agreement about the division of your property following a separation can save time, stress and money. Both parties are required to make an effort to explore options for settlement prior to going to Court.
Couples in a de facto relationship can access the Family Law Courts for assistance in resolving their financial matters following separation in the same way that married couples can. But what is a de facto relationship?
Under the Family Law Act, superannuation entitlements of separated spouses can be divided as part of a property settlement—this is called ‘superannuation splitting’. The Court can also divide the entitlements of eligible de facto couples.
If you and your spouse/partner agree on a property settlement, it is important that this be properly documented, even if you have minimal or no assets.
Relationship breakdown is often acrimonious, with property settlement a contentious issue. The Family Law Act sets out a process for the division of assets for spouses and, since March 2009, for couples in a de facto relationship.
Confused about property settlement following the breakdown of your marriage/de facto relationship? Dobinson Davey Clifford Simpson answers some frequently asked questions.
When people go through a separation/divorce, they are often preoccupied with dealing with the division of their current assets and do not focus on future asset protection/estate planning. This can cause future distress, not only for the individual person but … Read More
There is sometimes confusion about how to divide assets when a marriage or de facto relationship breaks down. Here, we answer some common questions about the process of dividing assets.
If you and your spouse agree on a property settlement, it is important that this be properly documented, even if you have minimal or no assets when you separate.
Amendments have recently been made to the Family Law Act. The new reforms allow de facto couples to access federal family law Courts in relation to property and maintenance matters upon the breakdown of a de facto relationship. Dobinson Davey … Read More
Confused about property settlement following the breakdown of your marriage? Dobinson Davey Clifford Simpson, one of Canberra’s largest and experienced law firms answers your questions.