When facing a divorce with children, a common and pressing question is, “Who gets the house?” The answer is not straightforward, as Australian family law does not operate on a set formula for property division. Instead, the court considers what is just and equitable based on the unique circumstances of each family. Typically, the primary […]
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When discussing estate planning in Australia, a frequent enquiry is how to execute a property transfer between family members. This article serves as a comprehensive guide to address frequently asked questions on this subject, covering legalities, tax implications, and possible disputes in a property transfer process. How Can I Initiate a Property Transfer to a
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When buying a house, making quick decisions you might regret later is easy. The cooling-off period in real estate gives you a little time to think and change your mind after signing the contract. Knowing this can help you avoid common mistakes and ensure you’re happy with your choice. What Is The Cooling Off Period
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Divorce can significantly impact your financial stability, and protecting your superannuation is crucial during this process. To safeguard your super, it’s vital to understand the legal framework in Australia that governs the division of superannuation assets, ensure accurate valuation of your superannuation funds, and explore options such as a financial agreement or court order that
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When you’re dealing with an insolvent estate, the stakes are high and the process can be complex. If you’re an executor or a beneficiary, understanding your legal rights and responsibilities is crucial. This guide will walk you through nine essential points to ensure you’re fully informed and prepared to handle these challenges. Let’s demystify the
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To keep an inheritance separate from a spouse in Australia, the key is proactive planning and clear financial boundaries. This can involve creating a legal agreement, such as a Binding Financial Agreement (BFA), keeping the inheritance in a separate account, and avoiding using inheritance funds for marital or joint purposes. Taking these steps ensures that
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What Happens to a Joint Loan When You Separate? What happens to a joint loan when you separate? When you separate in Australia, the treatment of a joint loan largely depends on your individual circumstances and the nature of the agreement with the financial institution. Generally, both parties remain responsible for the debt, regardless of
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In Australia, divorced couples are generally not able to share a single health insurance policy. Health insurance providers typically require individuals to be either legally married or in a de facto relationship to qualify for a couples’ policy. Upon divorce, parties must arrange for individual coverage or explore alternatives that align with their new marital
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Does a Trust Protect Assets from Divorce? A well-structured trust may offer some protection for assets during a divorce in Australia. However, the effectiveness of this protection depends on the type of trust, when it was established, and how it has been managed. Australian family courts can closely examine trusts, especially if there is a
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Whether a Power of Attorney (POA) can transfer money to themselves depends on the specific powers granted in the POA document and the laws of the state or territory in which it is being used. Generally, a person who holds a POA, known as an attorney, is expected to act in the best interests of
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