We held the second Family Law Seminar with ANZ at the Pavilion on 7 November 2017. Unlike last time the audience was only ANZ internal staff members and we delivered the contents in English. We had had a spirited exchange during the Q & A session with the 70+ audience. If you wish to obtain further relevant information on this topic, please contact our professional team at Focus Law.
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Setting up family trusts is now a common practice. It has many advantages, one of which is asset protection. Assets transferred to a trust are not relationship property as it is no longer owned by you, but by the trust, though you can allocate yourself and anyone you like as beneficiaries. However, too many people do not understand how trusts work and that they are not ‘divorce-proof’ solutions. As a result, too many people fail to plan early enough. Courts are able to set aside a disposition (placing of property into a trust) which was intended to defeat the rights [...]
-Can partners make their own private agreement on how to divide their property without going to Court? We learned in our previous article that when a relationship longer than 3 years ends, the court will divide relationship property equally according to Property Relationship Act 1976. It is often not as easy as it sounds, because it can involve many complicated issues when determining what is or is not included in the relationship property or relationship debt. The Part 6 (s21-21T) of the Act allows spouses or partners to decide themselves how their relationship property is to be divided without [...]
What is a Will? A Will is an ambulatory document - a legal document that you may amend as many times as you wish during your lifetime as things change. It takes effect only after your death. A Will is your financial deposition to your love ones and a set of instructions on how your assets are to be distributed and as well as directions on funeral & burial matters. Why do we need a will? Our future is uncertain, so we need to plan ahead. A Will is your set of instructions for the future – it saves [...]