Poorly Drafted Death Benefit Nominations Superannuation is a trust asset and not an estate asset. Provision for dependents and interdependents are governed by the Superannuation law. In the case of Munro v Munro [2015] QSC 61 the deceased executed a binding death benefit nomination (“BDBN”) in a self-managed superannuation fund (“SMSF”) in favour of the [...]
What is a binding financial agreement? The Family Law Act 1975 (Cth) (Family Law Act) provides for parties to a marriage or de facto relationship to enter into a binding legal agreement about the financial arrangements should their marriage or de facto relationship breakdown. […]
Many Australians are co-owners of interests in land but do not appreciate the nature or effect of the co-ownership and do not fully research family trust estate planning. As a result, they are not aware of the consequences their co-ownership has on their death. Below are examples of the effect joint tenancies can have in ousting the Testator’s family maintenance (“TFM”) legislation. […]
Maybe you didn’t see it coming. Maybe you’ve known it was going to happen for some time. Maybe it’s a well-contained no-fault divorce. Maybe it’s not so amicable. Either way, you’ve got a few things to worry about right now… (Before you consider the Common Divorce Pitfalls) […]
In Family Law, a parenting order is a legal agreement about how separated parents divide the responsibility to take care of their children. These agreements are sensitive. As such they are important to respect – but can be violated by either parent who isn’t careful about observing them. We’ll take you through first what a parenting order is, and what the requirements are. Then we’ll advise you on your options if one party has breached the parenting order. […]
What is spousal maintenance? Under the Family Law Act 1975, a person has a responsibility to assist their former partner financially, whether they were married or in a de facto relationship, if that former partner cannot meet their own reasonable living expenses from their income or assets. […]
What is a step-parent? The term “step-parent “is defined in the Family Law Act 1975 to mean a person who, in relation to a child: a) is not a parent of the child; and b) is or has been married to, or is or was a de facto partner of a parent of the child; and c) treats, or at any time while married to, or as a de facto partner of the parent (this includes same-sex couples) treated, the child as a member of the family. […]
When a couple separate, whether they have been married or in a de facto relationship, they usually need to resolve how to divide their property. How are family pets treated? […]
When a couple separate, whether they have been married or in a de facto relationship, they need to resolve how to divide their assets, including their assets, debts, and superannuation. […]
If you are thinking about making an application to the Family Court for orders relating to Property, Financial Maintenance, Child Related Proceedings, or for a Divorce, it is important to understand whether you are eligible to make an application. […]
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