Considering Asset Protection In Family Law
Considering Asset Protection In Family Law
There have been a number of cases decided by the Family Court in relation to Family Discretionary Trusts in recent years where the assets of a Family Trust have been considered ‘property’ of the parties to the marriage rather than just a “financial resource” (i.e. percentage consideration) of one of the parties.
In cases where the evidence shows that a party to the marriage has control or de facto control of a Discretionary Trust, then the relevant interest in the Trust will be ‘property’ under the Family Law Act and able to be included in the property division.
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