During a marriage, many couples come to share most aspects of their life with their partners, such as children, finances, and possessions. And for some married couples, they also share in the ownership or operation of a business or commercial venture. While balancing married life as both business and romantic partners has proved successful for many couples, for some, it has ended in divorce. What happens when business partners divorce? Working out who gets what in any divorce can be … [Read more...] about When Business Partners Divorce: What are Your Options?
Do you look forward to a happy and well-funded retirement? If the answer is yes, then you're probably going to rely heavily on your superannuation for your retirement income. But what happens to the money you’ve saved over your working life if you and your partner go through a separation and divorce? The closer you are to retirement, the more of an issue it becomes. Increasingly, the management of superannuation in divorce requires special attention in family law property settlements. How … [Read more...] about How to manage Superannuation in divorce
Most separating couples are able to resolve their Family Law disputes effectively. But for some, their family law dispute becomes an ongoing saga of conflict and expense which embitters relationships, undermines children’s welfare and everyone’s prospects of future happiness. So, what are the biggest mistakes in family law that cause couples and families such disasters? These are the seven biggest mistakes in Family Law: 1. The couple doesn't enter the family law process with a … [Read more...] about 7 Biggest Mistakes in Family Law
How do the courts decide who gets what in terms of assets and property after a separation or divorce? The courts generally take into account what assets there are and their value; what contributions each party made to those assets, both in money terms and as homemaker and parent. The courts also take into account the future needs of the parties, particularly in terms of the care of children and the income and earning capacities of the parties. The Family Courts usually won’t take into … [Read more...] about Impact of violence on a property settlement
At the end of a marriage or de facto relationship, dividing up the assets is an unavoidable necessity. Division of money and assets can often cause arguments about how much there is to divide, especially if there is much less than was expected. One party may accuse the other of frittering away the family fortune by wasteful expenditure. Or that the other party is hiding and not disclosing all their assets and expenditure. When money goes missing, who is responsible for it? Do the Family … [Read more...] about Divorce: What Happened to the Money and Assets?
When it comes to dividing up property after a relationship breakdown, most separating couples usually manage to come to an agreement — especially if they’ve follow family law guidelines and obtained good legal advice. However, there are some problems which often arise and which make the process of property division more difficult. One is where one party has received an inheritance at some time in the past. After separation, they may feel they should be able to keep their inheritance or get … [Read more...] about I Can Keep My Inheritance – Can’t I?