It is important to know that there are time limits on making
applications under the family law for a property division. If you are unaware or not advised of these, there can be
serious repercussions leaving you significantly worse off.
For defacto relationships, an application cannot be made
under the Family Law Act 1975 more than 2 years after separation. For married couples, the time limit is 12 months after your
divorce is made final. For this reason, many family lawyers will not encourage
people to actually obtain their divorce...
Sunday, 24 January 2016
Sunday, 17 January 2016
Combined Defacto and ‘Pre-nup’ Pre-Marriage Financial Agreements Determined to be Valid
Talking with your partner
about entering into a binding financial agreement, or a ‘pre-nup’ as they are
sometimes known, is a difficult enough conversation.
Making it more difficult, the
Family Law Act 1975 provides that if you are in a defacto relationship,
and enter into an agreement under the defacto sections of the law, that agreement will come to an end and cease to be
effective upon marriage.
Quite why this is the case
has never been clear to the legal profession at large, but most lawyers have
advised then that parties considering...
Sunday, 3 January 2016
The Small Business Family Law Dilemma
Clients with small businesses often find themselves
gobsmacked at the approach that the family law courts may take in relation to
their business. A valuer will regularly be appointed at significant expense and
that valuer will place an astronomical value on a business that the client has
no ability to sell, leaving them with a fixed asset of paper-worth but little
by way of realisable value.
The situation that may result is a difficult one for many
small business owners to face – that they will be left with just their
personal-services...
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