Upon separation, a party will often feel disgruntlement or dissatisfaction with the other party and wish to retain all they brought into the relationship. This is even more so the case with inheritances received after separation.
In a family law matter whether it be in a lengthy litigation battle or attempting to settle matters outside of court, the most frequent issue that arises is not a question of law but of fact. Specifically, how much is a particular asset or liability worth. A valuation may then be required to resolve the dispute regarding the value of the item.
The sense of loss and grief after losing a loved one is heightened when the Executor seems to be unwilling or is unable to process the Will by applying for the grant of probate. A delay can see the assets devaluing.
When partners purchase a property together they are known as joint tenants. The most important legal concept in joint ownership is survivorship. So, what does that mean?
It is an interesting scenario when considering if the assets of a testamentary trust should be treated as property in a divisible pool of assets in a family law dispute. More commonly these issues have been considered in relation to inter vivos Discretionary trusts. There is however, a series of family law cases which help to establish key principles.