Category: Family Law

How to safeguard future finances after a separation

Life after separation is not always predictable.  However, as our recent article illustrated, it is important to formalise property settlements to ensure future financial protection. A recent case has illustrated that the alternative can be…

Why it’s important to formalise family law property settlements

The 2022 decision of Radney & Radney [2022] FedCFamC2F 53, is a timely reminder about the importance of formalising family law property settlements, even where there is agreement and assets have already been divided -…

Relationship breakdown? You’ll be taxed for that!

When a marriage or de facto relationship breaks down, it’s never easy. Apart from the obvious emotional challenges, separation and divorce will often result in significant financial challenges, particularly when there is real estate involved….

Busting the myths of Family Law

When it comes to family law issues, it seems that almost everyone has a personal anecdote or piece of advice to share. While given with good intentions, this information can often lead to misconceptions about…

Practical steps for a smoother separation

There has been plenty of commentary and speculation about casualties of Covid – “The Great Resignation” and then “The Great Separation” – relationship breakdowns triggered by the stresses imposed by Covid, whether it be the…

Starting at the end. Preparing for separation

Covid lockdowns have impacted all of our lives in ways we could never have imagined, bringing people to question what is important in their lives, what they want for their future, and make some “life…

Undisclosed superannuation entitlements – You can run but you can’t hide

You can run but you can’t hide!  With new legislation enabling parties to obtain details of their former partner’s superannuation entitlements, superannuation can no longer be hidden from former spouses during family settlements. The reality…

Trusted advisors working together is fundamental to achieving the best Family Law outcome

Often in family breakdowns, particularly where a husband and wife are part of a family business, accountants, commercial lawyers and sometimes financial planners, will be involved. As part of this involvement, these professionals are usually…

Leaving the door open – risks of not formalising a property settlement

When separating, should you formalise a property settlement?  What are the risks if you don’t? Parties may agree, either by themselves, or with the assistance of other professionals, including accountants, financial advisers or commercial or…

Blended Families, Superannuation and Life Insurance

Continuing the Blended Families Series, another asset protection method that is often overlooked is the use of superannuation death benefits and life insurance. Superannuation and life insurance does not automatically form part of a person’s…

Blended Families and Family Trusts

Continuing the Blended Families Series, another way assets can be protected is through the use of trusts. Family discretionary trusts have become a popular vehicle to protect assets and stream family income to benefit from…

Blended Families and Life Interests

Continuing the Blended Families Series, another way to protect your assets in blended families is the use of life interests. A life interest provides limited rights with respect of a property to a beneficiary for…