Replacing Appointors and Guardians of Discretionary Trusts
An increasing number of individuals, especially those with complex professional and personal affairs, are using discretionary trusts as part of both their day to day wealth management strategies and also as part of their approach to long term planning. Discretionary...
Power of Attorney Abuse
A Power of Attorney is a legal document authorising a person to act for you and make binding decisions on your behalf during your lifetime. A Power of Attorney is usually prepared: to facilitate and complete transactions when you are unavailable to do so, for example...
How binding is a Binding Financial Agreement?
A financial agreement is a contract that deals with the division of a couple's assets after they separate, or in the event that they separate in the future. They may be made before or during a marriage or de-facto relationship, or after it breaks down. Financial...
What happens when parenting orders are ignored?
Separating parents should arrange for the future care, welfare and development of their children. These arrangements may be formalised in parenting orders which are endorsed by the Court. Where the parties are unable to agree, the Court can impose orders. In all...
Farm succession planning – striking a balance
The diversity of a family farming enterprise combined with the dynamics of the family unit can raise challenging and complex issues. The topic of succession planning is often a highly emotional one. The respective contributions from individuals to the farming...
A widow contesting a Will
All Australian jurisdictions provide statutory rights for eligible persons to contest a Will on the basis that they have not been left what is considered adequate provision by the testator for their proper maintenance, education, and advancement in life. In South...
What to do if you can’t find your trust deed
Losing a trust deed is not something anyone plans to do. Not only is a lost trust deed inconvenient it can also have serious consequences. Even if the trust is able to continue operating, without having the trust deed to reference it may be very difficult, if not...
Family Law Property Settlements – Is a 50/50 split the starting point?
Following the breakdown of a marriage or de facto relationship, it is common for separated parties to be unsure and therefore anxious about their entitlements as to a property settlement and the assets they are likely to retain. This is only natural given that Family...
Why you should have a corporate trustee for your Self-Managed Superannuation Fund
A Self-Managed Superannuation Fund (SMSF) is a type of superannuation structure that allows members to control and manage their own funds. Unlike other superannuation funds, members have a degree of autonomy over the choice of investments they can make subject to the...
Children’s care arrangements following separation
Following a separation parents do not have to go to court about the care arrangements for their children. As a matter of principle, we encourage our clients to reach an agreement if possible, without the need to resort to the Family Law courts. One advantage in...