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  1. Terry_w

    Trusts to protect real estate in case of divorce

    these stories do the rounds, many intelligent people believe the laws are different for men and woman. 'Old husband tales'
  2. Terry_w

    Trusts to protect real estate in case of divorce

    Anyone can send a letter. And there are also a lot of stories where the bloke has screwed the wife. It works both ways.
  3. Terry_w

    Trusts to protect real estate in case of divorce

    Its the cuddle factor. Like an old friend of mine says "A man needs a cuddle"
  4. Terry_w

    Trusts to protect real estate in case of divorce

    Lucky Mr Pratt!
  5. Terry_w

    Trusts to protect real estate in case of divorce

    The article here shows a different name, maybe there is more than one case going through the system http://www.smh.com.au/national/madison-ashtons-children-join-fight-over-richard-pratts-estate-20131128-2ydf4.html
  6. Terry_w

    Trusts to protect real estate in case of divorce

    And look at the definitions in the family law act and succession acts. Under the family law act http://www.austlii.edu.au/au/legis/cth/consol_act/fla1975114/s4aa.html
  7. Terry_w

    Trusts to protect real estate in case of divorce

    There was a well known billionaire that died a few years ago. He had a mistress as well as a wife. The mistress sued the estate - can't remember the outcome now as there were a few appeals. there are several ways a person can get your assets: 1. Family Law act definition of defacto...
  8. Terry_w

    Trusts to protect real estate in case of divorce

    It is really amazing how death of a loved one and the prospects of getting some money can bring out the best in people. More amazing is how they justify things and think they have a 'right' to get xxx. If you haven't got a will then you should read the intestacy rules and see how your things...
  9. Terry_w

    Trusts to protect real estate in case of divorce

    Hi Steve, What you have done is a good idea and can be effective - to a certain extent. But there are a lot of cases where divorces have ocurred and claims made by one party that certain monies were actually monies borrowed from parents many years ago. Sometimes they were borrowed, sometimes...
  10. Terry_w

    Trusts to protect real estate in case of divorce

    Steve - couple of problems with this. Did you actually loan the money? What would happen if you went bankrupt? If you died?
  11. Terry_w

    Trusts to protect real estate in case of divorce

    Yes. You could be a defacto and not necessarily have lived together. Under the Succession Act you can even have a wife/husband and a defacto at the same time. eg. You were married but having an affair - you die without a will then under the intestacy laws in NSW both of your spouses would...
  12. Terry_w

    Trusts to protect real estate in case of divorce

    They can and do ask. Not able to be supplied if you don't have them.
  13. Terry_w

    Trusts to protect real estate in case of divorce

    No. because Dr Spry and his wife were not beneficiaries of the trust at all.
  14. Terry_w

    Trusts to protect real estate in case of divorce

    Mike, What is a labuan trust? I don't practice in Family Law per se, but if someone had an interest in a trust that was overseas the Courts here could consider it a financial resource of the person. If they have been receiving money from the trust this would show up in tax returns...
  15. Terry_w

    Trusts to protect real estate in case of divorce

    Trust assets are not your assets but they can still be deemed to be yours and taken into account in a property settlement on the breakdown of a relationship. Divorce or defacto. There are basically 3 ways they can be attacked: Court making an order on the trustee Court deeming assets of the...
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