Does my wife/husband/spouse get half of everything?

Is it 50/50 in a financial separation? There is a common assumption that property settlement has to be a straight 50/50 split, however, there is no default rule to have a 50/50 split. It is important to realise that each person’s settlement will probably be different from others you may have heard about. This is […]

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Transferring, selling or gambling away assets – Dissipated Marital Assets and post-separation debts

What is dissipating the asset pool? To understand what dissipating asset pool is we first need to explain what the assets of a family law settlement are. The asset pool consists of everything owned minus all of the liabilities at the date of the court orders. That is right you heard it, it is AT […]

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Loan or Gift in Family Law?

Loans and gifts in family law When separation occurs it is necessary to do a property settlement and calculate what assets, superannuation and liabilities are in the property pool. Liabilities are including debts except alleged debts that are vague, uncertain or unlikely to be enforced (such as an unsecured loan from a parent of a […]

from Cudmore Legal https://www.cudmorelegal.com.au/property-settlements/loan-or-gift-in-family-law/
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Why you really REALLY should finalise your financial separation sooner rather than later

Maybe you’ve had a sudden realisation that if you don’t quickly formalise your financial separation, their debts could be your debts and your assets could be their assets…. Yes, that’s true, as it is not the date of separation that the court uses to calculate the relationships networth but at the date the final order […]

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Can a binding financial agreement be overturned?

When can a BFA be set aside? A review of Thorne and Kennedy [2017] HCA 49 There is a reason most family lawyers shy away from BFAs, and that is because they can be overturned even when you give them the utmost amount of consideration. In Thorne and Kennedy that is exactly what happened, a […]

from Cudmore Legal https://www.cudmorelegal.com.au/binding-financial-agreements/can-a-binding-financial-agreement-be-overturned/
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Are assets received post family law separation included in the property settlement? A Property Settlement Case review of Farmer and Bramley (2000) FLC 93-060

A review of Farmer and Bramley (2000) FLC 93-060 Facts of the Case The essential facts of this case are as follows: The parties commenced a de facto relationship in January 1983, married in April 1984 and separated in January 1995.  The relationship was the second for both and spanned (10) years duration. The parties […]

from Cudmore Legal https://www.cudmorelegal.com.au/divorce/are-assets-received-post-family-law-separation-included-in-the-property-settlement-a-property-settlement-case-review-of-farmer-and-bramley-2000-flc-93-060/
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