It’s now been one month since the merger of the Federal Circuit Court of Australia and the Family Court of Australia into the Federal Circuit and Family Court of Australia (FCFCoA). Since we last wrote in March regarding the merger, the new rules governing the operation of the Court have been published, the Court has begun operation, and our lawyers have become familiar with the new processes. But has much actually changed?
Accurate disclosure of financial assets is an essential part of a just and equitable property division. When one side attempts to hide their assets, parties normally must engage in an expensive and time-consuming process to search for the hidden assets if they wish to arrive at a just outcome.
In the stress of a Family Law dispute, parents often turn to social media to vent their frustrations about the other parent, express their annoyance about the process, or potentially show the ways they are dealing with the stress. Even though many parents consider social media a solution to their stress, online posts can negatively affect their case in several ways.
Many people don’t realise that superannuation benefits are not an estate asset and do not automatically flow to the estate of the deceased. Despite a Will being legally binding and providing what a person may receive from an estate, superannuation benefits do not apply. A Binding Death Benefit Nomination is a written direction to the Trustee of your superannuation fund which ultimately states beneficiaries who you want to receive your superannuation benefit in the event of your death.
Both parents have a duty to financially maintain their children. It is not a surprise that this misconception exists, particularly when fathers are often depicted in sitcoms and movies as being liable for “alimony”.