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    Family Law: Back to Basics: What is spousal maintenance?

    By James Frank on 29/09/16 9:45 AM

    When a couple separates, the financial implications can be widespread. For this reason, it is important that you are equipped with knowledge about all the possible implications of your separation. We have already discussed property settlements, gifts, windfalls and child support as possible financial implications of your separation. However, a lesser known financial implication is spousal maintenance.

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    Family Law: The hidden traps of Binding Financial Agreements

    By James Frank on 29/09/16 9:37 AM

    A binding financial agreement is a contract between two people in a marriage or de facto relationship (or intending to be in such a relationship) which sets out how property, financial resources and spousal maintenance will be dealt with in the event of a relationship breakdown. Due to the plethora of US legal dramas which grace our screens, you might better know this document as a pre-nuptial agreement or pre-nup. For many people with significant asset pools, this may seem like the perfect solution to the inherent risk attached to combining your life, financial and otherwise, with another person. As such, it may come as a surprise to you that we do not do binding financial agreements at Frank Legal. Why? Because the law on binding financial agreements is not as clear cut as it may seem.

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    Family Law: Windfalls: Inheritances and Lottery Winnings

    By James Frank on 29/09/16 9:21 AM

    So, you’ve just received an inheritance. Or perhaps, you’ve won the lottery! When you are involved with a family law matter, these sorts of windfalls can greatly impact your circumstances. A windfall is a sum of money which you have received but not worked for per se. The impact of a windfall will depend on when it is received.

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    Family Law: Gifts vs Loans

    By James Frank on 22/09/16 9:10 AM

    It is quite common in a relationship for the people around the two parties (family, friends, business partners etc.) to contribute financially to the either the individual parties or to the relationship as a whole.

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    Family Law: Family Law and Cheating Tax – It’s a No Go

    By James Frank on 19/09/16 1:44 PM

    In Family Law, the Court has the power to order the transfer of property between separated parties by way of consent orders. In such circumstances, the parties may be exempted from the stamp duty which is normally required upon the transfer of property. This also applies to binding financial agreements (Read more in our article “Signed, Sealed, Delivered and Stamp Duty”).

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