Expert Advice
What happens to our Instagram, Facebook and Twitter accounts when we die? Many people may not be aware they have digital assets and many more people would be unaware of their value. So how do you identify your digital assets and make provisions for them in your Will? This could be a significant question for millennials with broader, more comprehensive...
Family Law
On the surface, Christmas is one of the happiest, most magical times of the year – filled with love, laughter and memorable moments paved with green and gold. But the underbelly often takes on a different complexion, with many people admitting that Christmas makes them nervous and irritable as they struggle with budgeting and buying gifts, planning and cooking meals,...
Family Law
Think you’re sorted if you prepared your own Will using a Will-kit from the newsagency, or one you downloaded from the internet, or one you’ve freestyled and typed up yourself? Think again! If you don’t complete a Will correctly, you may cause more of a burden for your family than if you’d passed away without a Will. Yes, you might...
Family Law
Although many of us suffer from the illusion that life goes on forever, most of us are also smart enough to understand the importance of having a Will. It’s that little piece of paper that assures you, and your loved ones, that they will be cared for if/when something were to happen to you. But, many of us also struggle...
Family Law
The recent amendments to the Marriage Act, that came into effect as of 9 December 2017, may have inadvertently revoked your Will. For couples in the ACT, getting married automatically revokes any Will you have in place before marriage – unless your Will specifically states that it was made in contemplation of marriage. There are similar laws in other states...
Family Law
Christmas is a time for family, right? Well, it is for most of us. It’s a time to get together over a meal, and a few drinks, and talk about how little Joey and Suzie have grown. According to Michelle Gold, Wills and Estates specialist at Meyer Vandenberg Lawyers, it is also a time to consider some of the more...
Family Law
We live in the Information Age, where access to previously unobtainable information is available at the stroke of a key. We look to the world wide web to answer every question and now with the rise of YouTube and video blogs, we can be experts in just about anything. A very common example of this, one I am sure we...
Family Law
Many factors go into working out how best to divide assets following the breakdown of a relationship. One factor that can be overlooked in negotiations is the taxation consequences of a proposed division. It is important to understand how stamp duty in particular applies to family law settlements. Stamp Duty is a tax levied by State and Territory governments. Typically...
Family Law
This is a common question faced by many people who separate. Litigation can be expensive and it is not uncommon for one person to control most of the parties' wealth in a relationship. In this situation, the person who does not have control of the parties' wealth or who earns a much lower income than the other party, is at...
Family Law
The Family Law Act requires that, when a Court is making a decision about parenting orders after separation, it must apply a presumption of "equal shared parental responsibility" (ESPR), unless there has been abuse or family violence. Sometimes parents think that this is a presumption in favour of "equal time" or week about arrangements after separation. That is not the...
Family Law
'In certain circumstances, a person may be liable to provide ongoing financial support to their former spouse or de-facto partner following separation. This is called 'spousal maintenance'. How is Spousal Maintenance determined? The Court looks at two main factors when determining an application for spousal maintenance, including: 1. Does the Applicant have a need for financial support? In other words,...
December 2015 Issue 111
'You might remember 'Failure to Launch' as a bad romantic comedy film. If you haven't seen the film, all you need to know is it that it is about a thirty-something guy who lives with his parents and relies financially on them. Regardless of the quality of the film, the subject matter is not too remote from the reality of...
Family Law
"It may be tempting when you separate simply to sell up and divide what you have. Sometimes people enter into what we refer to as an interim (temporary) agreement to divide some of what they have (for example, the proceeds of sale of a matrimonial home) and deal with other matters (for example,superannuation) later. There are risks of both final...
Family Law
In the July issue of B2B, my colleague Alison Osmand, provides an important summary of why a Financial Agreement (also known as a "prenuptial agreement") might be good for some relationships. Alison's article is timely in light of a recent decision handed down in the Family Court of Australia. In the decision of Raleigh & Raleigh, handed down on 30...
Family Law
When does an obligation for child support arise? A legal obligation to pay child support arises when: 1. The Child Support Agency issues an administrative assessment for one parent (or party) to pay child support to the other. An administrative assessment by the Agency deals only with "periodic child support", that is, child support that is paid each week, fortnight,...
August 2015 Issue 107
Divorce rates are on the rise. These days, couples are bringing more to the table than ever before. They stay at home with their parents for longer, marry later and start families later. Nowadays, people are more attuned to the idea of having a choice about how their financial affairs will be dealt with, in the event of a relationship...