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?
Most couples accept that they need to divide their property following the breakdown of their relationship. But what about their debts? Do they have to divide these too? Many people don’t consider the division of debt fair or necessary: Why should I have to pay his or her debts, when I knew little or nothing about them and they were all his or her fault? Why should these debts be imposed on me as a result of my marriage or relationship? Do these spouses have a point? The answer is, it … [Read more...] about How to Avoid Sexually Acquired Debt in Divorce
Marriage preparation or beginning a new defacto relationship can be a wonderful and exciting time, with much to plan and prepare. But there are important things to consider. There are bound to be new financial responsibilities and obligations, particularly if you are bringing substantial assets into the relationship or have responsibilities for children of prior relationships. If you don’t think about these issues, they may come back to haunt you. Four things to consider before you take the … [Read more...] about Marriage Preparation: Before You Take The Big Step
Sadly, about one third of current marriages in Australia are likely to end in separation or divorce. Couples in de facto relationships fare even worse; the evidence shows that the separation rate is significantly higher for de facto relationships than for marriages. But most people are willing to give it another go. The great majority whose first marriage or relationship ends, are likely to remarry or re-partner not too long afterwards. The question then arises; do such relationships fare … [Read more...] about Family Law – Getting it right the second time
In the process of separation or divorce, most couples manage to come to an arrangement as to who gets what assets. Unfortunately, there are some who reach an impasse and simply can’t come to an agreement. This can happen when couples try to resolve a particularly vexing issue like the value of a business or trust, or simply because emotions run high. In these cases, arbitration is a smart alternative to giving in to the other party or enduring a long and costly battle in the family … [Read more...] about Arbitration: The Alternative Courtroom
Is there such a thing as a ‘good’ divorce? One that’s conducted amicably with fairness to all parties? Or is a divorce doomed to be a difficult and distressing experience, characterised by anger, anxiety, regret (and great expense), so the only sensible course is to look out for number one? It’s easy to be get caught up in a battle of wills so that the divorce ends up just another step in the marital dispute. And as a family lawyer, I’d be the first to admit there is unfortunately a legal … [Read more...] about How to have a good divorce