Personal Injury Settlements Compensation and Claims
Personal injury settlements are agreements between the injured party and the responsible party (or their insurer) to compensate for injuries and losses. These settlements can cover various damages, including medical expenses, loss of earnings, pain and suffering, and future care needs. The goal is to restore the injured person’s financial position to what it would […]
Financial Gifts vs. Loans: What Family Law Says
Family law‘s distinction between a gift and a loan can significantly impact financial agreements and property settlements. This differentiation is not just a matter of semantics but a critical factor in determining how assets are divided during legal disputes. In Australia, family law courts examine financial transactions within families closely to determine if they are […]
CGT on Divorce Settlement in Australia
Going through a divorce or separation can be a challenging time, not only emotionally but also financially. One critical aspect that often gets overlooked until the later stages of property settlement is the impact of Capital Gains Tax (CGT) on the division of assets. Understanding the implications of CGT in the context of divorce is […]
Can My Ex-Partner Legally Change the Locks?
Navigating through the aftermath of a separation or divorce can be challenging, especially when it comes to matters concerning the family home. One question often arises is, “Can my ex-partner change the locks?” The short answer is that it depends on the circumstances surrounding the ownership of the property and any court orders that may […]
Gifting Money Before Divorce
Amongst the complexities of divorce, gifting money before a divorce often emerges as a grey area. In Australia, understanding how these gifts are treated in the context of a property settlement is crucial. Whether it’s a generous gift from parents or a significant financial contribution from a friend, the timing and intention behind these gifts […]
A Helpful Guide to Co Owning a House After Divorce Australia
Yes, co-owning a house post-divorce in Australia is indeed possible. This situation arises when divorcing couples decide to retain their joint property instead of selling it or transferring it to one party. This arrangement requires careful legal and financial planning to ensure it works for both parties. 🔑 Key Takeaway: Co-owning a property post-divorce is feasible but […]
What Is My Wife Entitled to in a Divorce Australia
In the context of Australian family law, the entitlements of a wife in a divorce are not determined by a fixed formula or a set percentage but are based on a range of factors. These factors include the length of the marriage, the contributions made by each party (both financial and non-financial), the future needs of […]
I Bought a House With My Girlfriend in Australia and Now We Have Broken up
Can a de facto take half house after a breakup? When a de facto couple in Australia who co-owns a house goes through a breakup, the fate of their shared property becomes a significant concern. This article delves into the complexities of property division post-separation, focusing on legal frameworks, financial contributions, and mortgage responsibilities. Legal […]
The 70/30 Divorce Settlement in Australia
A 70/30 divorce settlement Australia refers to the division of assets where one party receives 70% and the other gets 30% of the total asset pool. Contrary to the popular belief that assets are always split 50/50, the Family Court in Australia aims for a fair, just, and equitable distribution. The court considers both financial […]