Relationships
A practical overview of family law,
estate planning and related family issues.
A publication of the Argyle Family Legal Office
Relationships l Solutions l Success
A publication of the Argyle Family Legal Office:
Relationships
A practical overview of family law,
estate planning and related family issues.
CONTENTS
INTRODUCTION 4
PART ONE. BEFORE ENTERING A RELATIONSHIP 5
Makealistofyourassets,resources,liabilities
andotherfinancialobligations 5
Considerabindingfinancialagreement 6
Prepareforpotentialchallengeswith‘blended’families 9
ConsidermakinganewWill 9
Reviewyoursuperannuationdeathbenefitnomination 9
Makeanewpowerofattorneyifappropriate 10
PART TWO. DURING A RELATIONSHIP 11
Purchaseofapropertywithanewspouse 11
Superannuationdeathbenefits 11
ChallengestoyourWill 12
Familytrusts 12
Giftsorloanstochildren 13
PART THREE. WHEN A RELATIONSHIP ENDS 14
Estateplanningdocuments 14
Superannuationdeathbenefitnominations 15
Severanceofjointtenancies 16
PART FOUR. NEGOTIATING A PROPERTY SETTLEMENT 17
Settlementplanningandstructuredsettlements 17
PART FIVE. HOW DOES FAMILY COURT DIVIDE ASSETS? 18
Four-stepapproach 18
Fullandfrankdisclosurebetweenparties 20
Superiorcontribution 20
2
PART SIX. TAXATION ISSUES 21
CGTexemptions 21
Transfersfromacompanyortrusttoaspouse 21
CGTrolloverreliefisnotalwaysappropriate
infamilylawdisputes 22
Division7Aconsequencesonthetransfer
ofanassetbetweenspouses 22
LoanaccountsandDivision7Aconsequences 23
PartIVAconsiderations 23
Stampduty 23
Taxationandrealisationcosts 24
Companytaxlosses 24
PART SEVEN. TAX-EFFECTIVE CHILD SUPPORT 25
Howchildmaintenancetrustssavetax 26
Protectionfortrustassets 26
Negotiationsbetweenspouses 26
Controlofthetrust 27
Effectivetrustdeeds 27
CGTandstampdutyconsiderations 27
PART EIGHT. SPLITTING OF SUPERANNUATION 28
Taxationandsuperannuationsplits 28
You are urged to obtain specialist legal and tax advice for your specific
circumstances. This publication is a general guide to some key matters which
you should consider.
3
INTRODUCTION
Marriedanddefactopartnersshould understandinghowtheFamilyCourt
understandthattheirrelationship dividesmaritalpropertyincontested
mayfaildespitetheirbestintentions. propertycases,stepsyoucantake
toprotectyourcurrentandfuture
AustralianBureauofStatistics(ABS) finances,andhowtosafeguardthe
datasuggeststhatAustralia’scurrent welfareofchildrenfromprevious
divorcerateis40%–andthisdoes relationships.
notincludedefactorelationships.
Itisalsocrucialtounderstandthe
Theratesofremarriageand implicationsofthebreakdownofa
subsequentdivorcearealsohigh. relationship.Thismayaffectother
OtherABSdatashowsthatmore familymembersandbusiness
than36%ofmarriagesinvolveat interests,aswellasforyourestate
leastonepartnerwhowaspreviously planning,superannuation,family
married. homeandtaxaffairs.
Unfortunately,secondand TheFamilyCourt’spowers,inmost
subsequentmarriagesaremorelikely States,wereextendedtoinclude
tofailthanfirstmarriages,according propertydisputesbetweendefacto
toastudy,Love can hurt, divorce will (includingsamesex)couples,where
cost,releasedseveralyearsagoby separationoccurredafter1March
theNationalCentreforSocialand 2009.
EconomicModellingattheUniversity
ofCanberra. TheArgyleFamilyLegalOfficebrings
togetherexpertisefromarange
Pointstoconsider,evenbeforea ofourspecialistlawyerstooffer
newrelationshipbegins,include guidancetoourclients.
Relationships l Solutions l Success
4
PART ONE. BEFORE ENTERING A RELATIONSHIP
Ifyouarecontemplatingbeginning Therecordingofassets,liabilities
anewrelationship,eitherlivingas andobligationsofbothspousescan
adefactocoupleorenteringinto haveseveralfundamentalbenefits.
amarriage,youshouldcarefully
considerwhatmayoccurifthe First,eachpartnerwillenterthe
relationshipweretofailandwhat relationshipwithanunderstanding
stepsyoucantaketominimisethe oftheother’sfinancialposition,
adverseeffectsofaseparation. reducingthepossibilityoflater
misunderstandingsandsurprises.
Amajorconsiderationwillbethe
assetsandliabilitiesbothpartners Second,establishingeach
maybringintotherelationship,since partner’sfinancialpositionmay
theremaybeasubstantialdisparity beofassistanceindiscussinga
ineachperson’sfinancialsituationat bindingfinancialagreementwith
thebeginningofarelationship. yourpartner.Abindingfinancial
agreementcanbemadeinthe
Onepersonmayhave,forinstance, eventofpartieslivingtogetheror
sizeablechildsupportandspousal intendingtomarry.(Bindingfinancial
maintenanceobligationsfroman agreementsarediscussedinmore
earlierrelationshipwhereasthe detailbelow.)
otherpersonmayhaverelatively
simplefinancialaffairs.Confronting Themakingofsuchlistsbyboth
theseissuesatthebeginningofa partnerswillclearlyidentifyany
relationshipisimportant. disparitiesinwealth.Onepartner
mayhavebeenparticularly
Possiblestepstotakebefore successfulinbusinessorhave
commencingarelationshipinclude: inheritedsignificantassetsfor
example.
Yourlistofassetsandliabilities
Make a list of your assets, shouldinclude,forexample,
resources, liabilities and other superannuationentitlements,shares
financial obligations inlistedandunlistedcompanies,
options,businessinterests,interests
Thisexercisewillenableyouto inanytrust,expectedinheritances,
properlyassessyourfinancial andinformationinrespectof
position.Yournewpartnermayagree patternsofdistributionsfrom
toundertakethesameexercise. discretionarytrusts.
5
Uponseparationifyouandyour Abindingfinancialagreementhas
partnercannotagreeastothe evengreatersignificanceparticularly
divisionofyourassets,theFamily incircumstanceswherethereisa
Courtwillmakethedecisionforyou secondorsubsequentrelationship
instead. andonespousehassubstantial
assetswhichmayincludefor
Whenmakingordersfora example,extensivebusiness
propertysettlementfollowingthe interestsorlargeinvestment
breakdownofarelationship,a portfolios.
judgeoramagistratewillassessthe
contributionseachspousehasmade Abindingfinancialagreementisa
totheaccumulationofmatrimonial privateagreementwhichprovides
assets.Thisassessmenttakesinto howtheassetsandliabilitiesofthe
considerationtheinitialcontributions partieswillbedividedintheeventof
ofeachpartyatthebeginningof aseparation.Dependinguponthe
therelationshipandduringthe circumstances,suchagreements
relationship. oftenstipulatethateachspouse
willkeepatleasttheassetsthey
Therefore,evidenceofwhateach introducedintorelationship.
personbringsintotherelationship
cansafeguardyourinterestsinthe Bindingfinancialagreementscanbe
future. madebeforearelationshipbegins,
duringarelationshipandaftera
Yourfinancialrecordsalsowillbeof relationshiphasbrokendown.
assistanceifavaluationisrequired
ofacompany,partnershiportrust. TheFamilyCourtcannotoverride
Thiswouldoccurwherethereisa thetermsofabindingfinancial
company,partnershiportrustin agreementunlessoneofthe
existenceatthetimeofseparation partiestotheagreementfor
whichformspartofmatrimonial examplecanprovefraud,duress
property. orunconscionableconductwhen
theagreementwasmade,or,the
agreementdoesnotmeetthe
specificrequirementsoftheFamily
Consider a binding financial LawAct.
agreement
Couplesareincreasinglyenteringinto
bindingfinancialagreementsbefore
marryingorbeforeenteringdefacto
relationships.
6
TheFamilyCourtcanalsosetaside TheFamilyLawActprovidesforthree
abindingfinancialagreementif typesofbindingfinancialagreements.
therehasbeenamaterialchange Section90Breferstobindingfinancial
relatingtoachild’scircumstances agreementsenteredintobeforethe
whichwouldcausehardshipifthe marriage(referredtoasprenuptial
agreementwereenforced. agreements).Section90Crefersto
bindingfinancialagreementsentered
Bindingfinancialagreementsmaybe intoduringthemarriage(referredto
usedasameanstogivecertaintyto asmid-nuptialagreements),either
partiesenteringintoarelationship. beforeorafterthemarriagehas
Theyaddresstheuncertaintyof brokendown.Section90Drelatesto
acourtorderedpropertydivision bindingfinancialagreementswhich
whichmayarisewhereparties aremadeafterdivorce(referredtoas
subsequentlyfailtoagreeabout postnuptialagreements).
howtheirjointassetsandliabilities
aretobedividedatseparation. Abindingfinancialagreementcan
Thisuncertaintyisduetothewide beterminatedbyanotherwritten
discretionarypowersofjudgesor agreementpursuanttos90Jofthe
magistratesintheFamilyCourtwho FamilyLawActandisreferredtoas
makeordersaboutthedivisionof aTerminationagreement.
matrimonialproperty.
Couplesenteringintobindingfinancial
Bindingfinancialagreements,while agreementswhodonotintendto
notbeinginvincible,canhowever marrybutliveinadefactorelationship
givevaluableprotectionifproperly canalsoenterintosimilaragreements
andthoughtfullyprepared. eitherbeforetheyenterintoa
relationship,duringtherelationshipand
Eachpartnermustobtain aftertherelationshiphasended.
independentadvicefromaseparate
familylawyerbeforeenteringinto Bindingfinancialagreements
abindingfinancialagreementand areprivateagreements.There
thelawyermustsignacertificate arenorecordsofthenumbers
ofindependentlegaladviceon ofcouplesenteringintobinding
behalfoftheirclientwhenthe financialagreementsastheyarenot
agreementissigned.Thecertificate scrutinisedbytheFamilyCourt.Itis
ofindependentlegaladviceisthen importantthereforeifyouenterintoa
attachedtothebindingfinancial bindingfinancialagreementthatthe
agreement. agreementisretainedinasafeplace.
7
Abindingfinancialagreementwould Therequirementsforbindingfinancial
beparticularlyusefulfor: agreementare:
a
• coupleenteringintoasecond t
•heagreementmustbeinwriting;
marriagewhomayneedtoprotect
theirexistingassetsandmake t
•heagreementmustbesignedby
financialprovisionforchildrenof eachoftheparties;
previousmarriages;
t
•heagreementmustspecify
h
• ighnetworthcoupleswhowant whatsectionoftheFamilyLaw
certaintyaboutanoutcomeinthe Actappliesforexamples90B
eventofseparationandwhoalso oftheFamilyLawActforpre-
wanttoplanforestateandother nuptialagreements,s90Cofthe
financialmatters; FamilyLawActforamid-nuptial
agreementands90Dforapost
p
• arentswithsubstantialassets nuptialagreement,wherethe
whowanttoprovidetheirchildren partieshavedivorced;
withcertaintybeforetheymarry
orduringthemarriage.Abinding t
•heagreementmustdealwith
financialagreementwould propertyandfinancialresources
safeguardanyassetstheirchildren andmayincludeprovisionsfor
mayinheritorprotectanexisting spousalmaintenance;
interestinafamilytrustorafamily
company; o
• nepartymustretaintheoriginal
agreementandtheotheracopyof
p
• rofessionalswhomarryafterthey theagreement;
haveestablishedtheircareersand
whohavetheirownestablished t
•heremustbecertificatesof
assetbase. independentlegaladviceannexed
totheagreementsignedbythe
solicitorsforeachoftheparties.
8
Prepare for potential challenges Consider making a new Will
with ‘blended’ families
InNSW,forinstance,marriage
Apersonenteringasecondor generallyrevokesawillunlessmade
subsequentrelationshipshould incontemplationofthatparticular
beawareofthepotentialtensions marriage.Divorcegenerallyrevokes
thatcouldarisebetweenanew provisionsmakinggiftstoaformer
partnerandchildrenfromprevious spouseaswellasaformerspouse’s
relationships. appointmentasexecutor,trusteeor
guardianoftheWill.
Forinstance,asecondspouse
maynotnecessarilywantherlate Anewrelationshipmayencourage
husband’sadultchildrenfromhisfirst youtomakeanotherWillreflecting
marriagetobenefitfromhisestate. yourchangedcircumstanceswhile
makingprovisionforanychildren
Partiesenteringintoanew fromotherrelationships.
relationshipthereforeshouldreview
theirestateplanninggiventheir
changingcircumstances.
Review your superannuation
Trytoavoidleavingyourfamilya death benefit nomination
legacyofbitterdisputesoveryour
estateintheeventofyourdeath. Youmayhavenominatedapreferred
Perhapsaskyourselfaseemingly beneficiarywithyoursuperannuation
straightforwardquestion:Whatare fundoryoumayhavemadewhat
thelikelyexpectationsofmyspouse isknownasabindingdeathbenefit
andmychildren?Thismayinfluence nomination(ifprovidedforinyour
thedraftingofyourWill. fund’strustdeed).
Asidefromestateplanningissues, Somebindingdeathbenefit
bothpartnersinanewrelationship nominationsmaybedraftedto
shouldtakeintoaccountthegeneral becomeinvaliduponspecificevents
welfareissuesoftheirchildrenfrom suchasdivorceormarriage.
previousrelationships.The‘blending’of
familiescancausesomeunexpected Inanycase,eitherdivorceor
difficultieswhere,forexample, remarriageshouldpromptyouto
thereareagreementsforparenting revieweitheryourbindingdeath
orderswhichprovideforsharedcare benefitnominationoryournon-
arrangements.Suchagreements bindingnominationofapreferred
mayinvolveprovisionsastoholiday beneficiary.
carearrangementsandrestrictionson
movinginterstateorwithinthestate.
9
Superannuationdeathbenefits deathbenefits).Alternatively,the
cangenerallyonlybepaiddirectly trusteesmaydecidetopaythe
toadeceasedfundmember’s benefitstothedeceased’slegal
dependants,asdefinedin personalrepresentative,depending
theSuperannuationIndustry uponthecircumstances.
(Supervision)Act1993,orthelegal
personalrepresentative(theexecutor Significantly,aWillcanonlydirect
ofthedeceased’sestate). howsuperannuationdeathbenefits
aredistributedifthebenefitshave
Adependantofadeceasedmember firstbeenpaidbythefundtrustee
isdefinedinsuperannuationlawasa tothedeceased’slegalpersonal
spouse(includingadefactopartner), representative(executoroftheestate).
childrenofanyage,oraperson
whoisfinanciallydependenton
thedeceasedatthetimeofdeath.
Anothergroupofeligibledependants Make a new power of attorney
arethosewhohadaso-called if appropriate
“independency”relationshipwiththe
deceased(whichcanincludehaving Anewrelationshipshouldprompt
aclosepersonalrelationship,living youtoconsidermakinganewpower
together,orprovidingdomesticor ofattorneyorenduringpowerof
financialsupport–byeitherperson). attorney.Apowerofattorneyand
enduringpowerofattorneygive
Ifabindingdeathbenefitnomination anotherpersonthepowertomake
isnotinplace,thetrusteesofa financialdecisionsonyourbehalf.
superannuationfundgenerallyhave
thediscretiontodeterminewhich Powersofattorneyandenduring
eligibledependantswillreceivea powersofattorneyaswellasthe
deceasedmember’ssuperannuation appointmentofanenduringguardian
deathbenefits(includinginsurance arediscussedfurtherinthisbooklet.
Relationships l Solutions l Success
10
PART TWO. DURING A RELATIONSHIP
Inbroadterms,theissuesfacing youmayhavemadeprovisioninyour
acoupleduringarelationshipare Willforyourshareofthepropertyto
generallysimilartothosefaced bedistributedforexampletochildren
beforethecommencementofa fromyourpreviousrelationship,such
relationship.Asalreadynoted, provisionswouldbeinvalid.
partiescanenterintoabinding
financialagreementduringthe However,ifyouowntheproperty
relationship.Thismayberelevant astenantsincommon,yourshare
ifonepartyisabouttoenterintoa ofthepropertyformspartofyour
newbusinessventure,forexample. deceasedestateandyoucanspecify
inyourWillwhoistoreceiveit.
Otherissuestoconsiderduringa
relationshipincludethepurchaseof
propertywithanewpartner,review
ofWillsandsuperannuationdeath Superannuation death benefits
benefitnominations,possibleclaims
againstyourestateintheeventof Ifabindingdeathbenefitnomination
yourdeath,loansorgiftstochildren, isnotinplace,superannuationfund
andtheestablishmentofafamily trusteesgenerallyhavethediscretion
companyorafamilytrust. todecidewhicheligibledependants
willreceivethedeceasedmember’s
superannuationdeathbenefits.The
trusteesmay,alternatively,decideto
Purchase of a property with a paythebenefitstothedeceased’s
new spouse legalpersonalrepresentative.
Ifyoudecidetopurchaserealestate Superannuationlegislationdefines
withyourpartner,youcanholdthe dependantsasthedeceased’s
propertyintwowayseitherasjoint spouse,childrenandotherpersons
tenantsorastenantsincommon whodependedonthedeceased.
(usuallyinequalsharesorinshares Afundtrusteewillmostlikelymake
whichmayreflectyourcontribution adecisioninfavourofaspouse
totheacquisitionoftheproperty). ratherthanmakingadistributionto
financiallyindependentadultchildren.
Ifyouownapropertyasjointtenants
andyourpartnersurvivesyou,heor Coupleswhohaveenteredintoa
shewillbecomethesoleownerby newrelationshipmaywanttoensure
rightofsurvivorship.Eventhough thattheirfinanciallyindependent
11
adultchildrenfromaprevious Itisunlikelyhoweverthatthecourt,
relationshipreceivesomeoftheir forinstance,wouldmakeorders
superannuationentitlementsinthe infavourofaformerspousewho
eventoftheirdeath.Forexample receivedassetspursuantafamily
bindingdeathbenefitnominations lawpropertysettlementorabinding
mayprovidethatyouradultchildren financialagreement,unlessallof
receiveacertainpercentageofyour theassetshadbeendissipatedand
superannuationdeathbenefitswith theformerspousecouldestablish
theremaindergoingtoyourcurrent financialhardship.Howeverevenif
spouse. thosecircumstancesweretooccur
theformerspousemaynotbe
successfulinmakingaclaim.Each
casedependsonitsownsetoffacts
Challenges to your Will andcircumstances.
UndertheSuccessionAct2006
(NSW)andsimilarlegislationinother
statesandterritories,yourWillmay Family trusts
becontestedifcertaincriteriaare
notmet.Thisisamattertoconsider TheFamilyCourtcanmakeorders
ifyouhaveenteredintoanew inrelationtothirdpartiestoa
relationship. marriage;thirdpartiesincludeentities
suchasfamilytrustsand/orprivate
Thoseeligibletomakeanapplication companies.
tocontestyourWillunderNSWlaw
include;yourmarriedordefacto Factorstothinkaboutduringa
spouse(includingsamesexpartners) relationshipwheretherearefamily
atthetimeofdeath,formerspouses, trustsorfamilycompaniesinvolved
yourchildren,andapersonwhowas includewhetheronespousehas
amemberofthesamehousehold effectivecontrolofatrustora
andfinanciallydependentuponyou. company,patternsofdistributions
Thiscouldincludeastepchildin fromatrust,orwhetheryoushould
certaincircumstances. makeyourpartneradirectorofa
familycompany.Therelationship
Thecourt,afterahearing,will betweentrustsandfamilylawis
decidewhetherthedeceasedhad acomplexsubjectwhichyouare
madeadequateprovisionforthe urgedtodiscusswithaspecialist
maintenanceandeducationand familylawyerifrelevanttoyour
advancementinlifeoftheeligible circumstances.
person.
12
Gifts or loans to children Considerprovidingthemoneyby
wayofaloanratherthanagift.
Parentsareincreasinglyhelpingtheir Theloanshouldbedocumented
adultchildrenpayforthedeposit inadeedofloan.Itmaybefurther
ontheirfirsthomes.However, securedbywayofamortgageover
manyparentsoftenfailtoconsider thepropertytobepurchased.
thepossibleconsequencesoftheir
childseparatingfromtheirpartnerin Thedeedofloanshouldstipulate
thesecircumstances. whenandhowtheloanistobe
repaidaswellasanyinterestpayable
Considertheexampleofparents (ifrelevant).
whodecidetocontribute$50,000
towardsthedepositfortheiradult Amortgagecanbeparticularly
child’sfirsthome. importantiftheadultchildis
borrowingmoneyforbusiness
Whatwillhappentothe$50,000if purposes.Aregisteredmortgagewill
theirchildlaterseparatedfromhisor takepriorityoverunsecuredcreditors
herpartner?HowwouldtheFamily ifthebusinessweretofail.
Courtviewthemoneyadvancedby
theparents?Willthecourttreatthe Alternatively,anadultchildreceiving
contributionasaloanoragift? aloanfromtheirparentscouldenter
intoabindingfinancialagreementwith
Theseareimportantquestionsto theirpartner.Atermoftheagreement
thinkaboutbeforeyouadvanceany wouldmakespecificprovisionforthe
moneytoyouradultchildren. repaymentoftheloanintheeventof
separationtotheparents.
Relationships l Solutions l Success
13
PART THREE. WHEN A RELATIONSHIP ENDS
Whenarelationshipendseitheryou Estate planning documents
oryourpartnermaywanttoenter
intoabindingfinancialagreement Youshouldreviewyourestate
(ifyoudonotalreadyhaveone), planningandassociatedmatters
stipulatinghowyourassetswillbe afterseparation.Thisincludesyour
divided.Alternatively,yoursettlement Will,enduringpowerofattorney(or
couldbedocumentedbywayofa powerofattorney)andappointment
consentorder. ofanenduringguardian.
Aconsentorderisanagreement Giventhatthepersonappointed
whichisfiledintheFamilyCourtand underyourenduringpowerof
issubsequentlyratifiedbythecourt. attorney(orpowerofattorneyif
Whenpartiesfileconsentorders applicable)isauthorisedtodealwith
theymustalsolodgewiththecourt yourfinancialmatters,itiscrucialto
acollaborativedocumentsetting revokethedocumentsifoneofthe
outtheirassetsandliabilities.Once appointedattorneysisyourestranged
thecourtsealstheconsentorderit spouse.(Anenduringpowerof
becomesbindingandenforceable. attorneycontinuestohaveeffectin
NSW,forinstance,ifyoulosethe
Aconsentordercanalsodocument mentalcapacitytomakedecisions.)
arrangementsaboutwherechildren
oftherelationshipwillliveand Thepersonappointedasyour
whatschoolstheymayattend, enduringguardianisauthorisedto
forexample.Abindingfinancial dealwithallofyournon-financial
agreementcannotincludeprovisions mattersifandwhenyounolonger
forparentingarrangements,itcan havethemedicalcapacitytodoso.
onlydealwithfinancialmatters. Again,ifoneofyourguardiansis
yourestrangedspouse,heorshe
Othermatterstoconsiderwhen shouldbereplaced.
arelationshipendsinvolveliving
arrangementsforchildrenofthe YourWillshouldbehighinyour
relationship,dissolvingthemarriage, priorityofestateplanningdocuments
reviewingchildsupportpayments toreview.Ifatthedateofyourdeath
andestateplanning. youhavenotbeendivorcedandyour
estrangedspouseisnamedinyour
Willasthesolebeneficiaryofyour
estate,heorshewillremainthesole
beneficiaryunderNSWlaw.
14
Unlikeamarriageordivorce,a Ifyouoryourpartnerhavechildren
separationhasnoeffectonthe fromapreviousrelationship,the
validityofyourWill.Aformerspouse positionismorecomplex.Your
namedasanexecutorand/or childrenareeligiblepersonswho
beneficiaryunderyourWillshouldbe maycontestyourWillwhetheror
replacedimmediatelyifthatisyour nottheyarelivingwithyouoryour
intention. spouse–andwhetherornotyou
hadanycontactwiththem.
Whennegotiatingabindingfinancial
agreementorapropertysettlement Ifthechildrenofyournewpartner
followingthebreakdownofmarriage (yourstepchildren)arelivingwithyou,
ordefactorelationship,spousescan theymayalsobecomeeligibleto
enterintoanagreement,knownas contestyourWill.
adeedofrelease.Adeedofrelease
isanagreementbyeachspouse Youcannotenterintoadeedof
inwhichtheyeachpromisenotto releaseonbehalfofyourchildren.
makeaclaimagainsteachother’s
estate.
However,youshouldnotethata Superannuation death benefit
deedofreleasedoesnotnecessarily nominations
preventpartiesbringingclaims
againsteachother’sestatein Superannuationdeathbenefitsin
circumstanceswherethecourthas mostcircumstancesdonotform
notapprovedthedeedandgranted partofyourestate.Thereforeitisnot
thereleasebeforehand. sufficienttochangeyourWillatthe
timeyourrelationshipfails.
Anapplicationforapprovalofa
deedofreleasecanbemadeduring Ifyouhavemadeavalidbinding
thelifetimeofthepartiestothe deathbenefitnominationwith
deedaswellasbytheirpersonal yoursuperannuationfundin
legalrepresentative(theexecutor favourofyourestrangedspouse,
ofthedeceased’sestate).However youshouldconsiderrevokingit
ifyouarenotabletomakesuch underthegoverningrulesofyour
anapplicationtothecourt,adeed superannuationfund.Ifyoudonot
ofreleaseisstillaworthwhile revokethenomination,thetrustee
agreementtonegotiate,asitis hasnochoicebuttopaythebenefit
evidenceofthepartiesintentions,in toyourformerspouseintheeventof
theeventsuchaclaimismadeinthe yourdeath.
future.
15
Ifabindingdeathbenefitnomination Severance of joint tenancies
isnotinplace(asdiscussedearlier),
superannuationfundtrustees Ifyouownrealestatewithyour
generallyhavethediscretionabout formerspouseasjointtenants,
whicheligibledependantsunder ratherthanastenantsincommon,
superannuationlawwillreceivea thepropertycannotformpartofyour
deceasedmember’ssuperannuation deceasedestate.Yourinterestunder
deathbenefits.Thetrustees ajointtenancywouldpasstothe
may,alternatively,decidetopay survivingjointtenant.
thebenefitstothedeceased’s
legalpersonalrepresentative(the Youshouldthereforeconsider
executor). severingthejointtenancy
immediatelyuponseparationand
Ifyourrelationshipfails,youmay evenbeforeyoureachanagreement
wish,forexample,toleaveallof aboutthedivisionofmatrimonial
yoursuperannuationdeathbenefits property.Youcanthenmakeanew
toyouradultchildren.Youwould Willimmediately.
havetomakeanewbindingdeath
benefitnominationtoensurethatthis
occurs.
Relationships l Solutions l Success
16
PART FOUR. NEGOTIATING A PROPERTY SETTLEMENT
Settlement planning and Weareabletoprovideguidance
structured settlements regardingthestructureofyour
propertysettlement,beforeandafter
Whenarelationshipfails,thereare settlement.
oftenseriousfinancialandpersonal
implicationsinvolvingtheassets Wealsoofferan“assessment”to
youseektoretainaspartofyour coupleswhoareabouttoseparate.
propertysettlement. Thisassessmentprovidesadviceas
tohowtheFamilyCourtmaydivide
Onespouse,forinstance,maygain matrimonialassetsintheirspecific
ownershipofafamilybusinessas circumstances.
partoftheirpropertysettlement.
Inturn,otherfamilymembersmay Thisassessmentmayhelpyouto
becomeworriedaboutwhether reachasettlementwithyourformer
thiswilldisturbexistingbusiness spouse,therebyavoidingcostlycourt
successionplanning. proceedingsandemotionalstrain.
Itisimportantthatanyother Aswell,weofferalternativedispute
directorsorpartnersofyourbusiness resolutionandmediationservices
bekeptinformedoftheprogress toassistourclientstoreacha
ofyoursettlementdiscussions,in settlement.
theeventthatyoudonothavethe
protectionofabindingfinancial Significantly,coupleswhonegotiate
agreement. theirsettlementshavemore
controlovertheoutcomeoftheir
Furthermore,wherethereare propertysettlement.Itshouldnot
valuableassetssuchasfamily beoverlookedthattheFamily
companies,trusts,partnershipsora Courthasawidediscretionwhen
mixofinvestmentpropertiesaswell makingordersaboutthedivisionof
asthefamilyhome,itisimportant matrimonialproperty.Neitherparty
toobtainspecialistadviceaboutthe hascontrolovertheoutcomeofa
structureofthepropertysettlement settlement.Onceyouembarkupon
(includingtaxationadvice)soasto acontestedhearingsettlementis
maximisethepotentialbenefitsof leftinthehandsofajudgeora
yoursettlement. magistrate.
17
PART FIVE. HOW DOES FAMILY COURT DIVIDE ASSETS?
Ifyouandyourpartnerareunable Four-step approach
toreachanagreementastohow
yourassetswillbedivided,ajudge IneverycasetheFamilyCourt
ormagistrateoftheFamilyCourtwill appliesafour-stepprocesswhen
orderthedivisioninstead. decidinghowtodivideassets
betweentheparties.
Inmostcaseswherematrimonial
assetsmaybetypicallyahome,a
smallshareportfolio,superannuation
andperhapsanegativelygeared Step one. Identifying the net
property,thecourttendsto asset pool
notionallydividetheassetsequallyin
circumstanceswhentherehasbeen Allpropertyisgenerallyincluded
alongmarriage.Inthisinstance inthepoolofmatrimonialassets
thereislessemphasisonanalysing whetheracquiredbefore,duringor
eachoftheparties’contributions. afterseparation.
Howeverbecausethereisno
conceptofanequalityofdivisionin Theassetpoolwillincludeproperty
theFamilyLawAct,thereisnoset suchassuperannuationsavings,
formulaforthedivisionofassets. sharesinpublicandprivate
companies,anyinterestinatrust
Withshortermarriages,thecourt (wherethespouseisacontroller),
willplacemoreweightwhen aninterestinanybusinessor
dividingmatrimonialpropertyon partnership,bankaccounts,
theinitialfinancialcontributionsof furniture,artwork,winecollections,
eachspouse.Theircontributions cars,jewellery,realestateand
duringtherelationshipwillgenerally otherinvestmentssuchasoptions,
bereflectedinthefinaldivisionof entitlementstolongserviceleave
assets. andundistributeddeceasedestates.
Nextliabilitiesarequantifiedto
determineanetpoolofassets.
Examplesofliabilitiesincludecredit
carddebts,mortgageloans,personal
loans,hirepurchaseloansetc.
Oftentheremaybedisputesasto
whetheraparticularliabilityistobe
consideredasamatrimonialliability.
18
Step two. Assessing the Anexampleofafinancialresource
contributions that each party isaninterestonepartymayhaveas
has made to the accumulation abeneficiaryinatrustwherethat
of the assets partyhasnocontroloverthetrust.
Inthissituation,thecourtcanonly
Steptwoinvolvestheconsideration takeintoaccountinanotionalway
offinancialandnon-financial thebeneficiaries’righttoreceive
contributions(suchashomemaking distributionsfromtimetotime.
andparentingcontributions)tothe
acquisitionandconservationof Afurtherexampleofafinancial
assetsduringtherelationship. resourceiswhenonepartyreceives
aninheritanceafterseparationand
Giftsfromparents,forexample, theycanclearlyprovetheother
aregenerallytreatedasafinancial partyhasmadenocontributionto
contributionbythepartywhose theinheritance.Inthatsituationthe
parentsmadethegift. courtmaydeemtheinheritanceto
beafinancialresourceoftheperson
Theassessmentofsuch whoreceivedtheinheritanceandnot
contributionsgenerallyinvolvesan propertytobedividedbetweenthe
analysisofcontributionsmadeduring parties.
therelationshipandconsideringthe
historyoftherelationship. Ajudgeormagistratemay
readjustthedivisionofassets
(afterconsideringeachparty’s
contributionstomatrimonialproperty)
Step three. Assessing the toreflectgreaterfutureneedsofone
future needs of both parties party.
Thethirdstepinvolvesa
considerationofeachoftheparties
futureneeds,takingintoaccount Step four. Examining whether
suchfactorsasage,health,income the proposed property division
earningcapacity,thelengthof is just and equitable
relationship(whererelevant),financial
circumstancesofanewrelationship Thisfinalstepinvolvesthejudgeor
andthefinancialresourcesofeach magistratelookingattheproposed
party.Considerationisalsogiven divisionofassetsanddetermining
towhowilllookafterthechildrenof whetherthedivisionisfairand
themarriageinthefuture,andwhat reasonabletobothparties.
standardoflivingisreasonableinthe Thisisasubjectiveconsideration.
circumstances.
19
Full and frank disclosure Superior contribution
between parties
Asuperiorcontributionorthewealth
TheFamilyLawActrequiresboth creatorprinciplemayapplyin
partiestomakefullandfrank situationswheretherearesubstantial
disclosureoftheirfinancialpositions matrimonialassets,forexample,
whennegotiatingasettlement. wherethemaritalpoolofassetsis
atleast$7millionandupwards.In
Thisrequirementensuresthateach thesecircumstances,theFamily
ofthepartiesandthecourtarefully Courtmayawardamuchlarger
informedbeforeadecisionismade shareoftheassetpooltothespouse
aboutthedivisionofassetsofthe whocandemonstratethathisor
marriage.Financialdisclosureis herspecialskillorabilitieshave
takenseriouslybythecourt.There createdthewealth.Thistendstobe
maybeseverepenaltiesimposedby thepositionevenwheretherehas
thecourtanduponpartieswhofail beenalongmarriage.Theseskills
tomakesuchdisclosures. havebeenreferredtobytheFamily
Courtasspecialskills,orsuperior
Anypersoninvolvedinaproperty contributionsorextracontributions.
settlementshouldnotriskafinding
againstthemofnon-disclosureof Dependinguponthecircumstances,
theirassets.Thiscanbedetrimental thespousewhowasthewealth
andcostly.Forinstance,thecourt creatorwillseekalargershareofthe
cansetasideapropertysettlement propertysettlementonthebasisof
iftherewasincompleteorinaccurate hisorherinvolvementinthewealth
disclosurebyoneoftheparties. creation.
Orthecourtmaygiveonepartyall
oftheavailableassetsandleave Inthesecases,thejudge
thepersonwhofailstomakea ormagistratemaytakeinto
disclosurewithnothing. considerationsuchfactorsas
ownershipofthebusinessassets,
Partiesmustexchangefinancial companyortruststructures,
statementswhiletheyarenegotiating involvementofthepartiesinstrategic
asettlement.Theseincludesuch businessdecisions,personalliability
documentsastaxreturns,bank orexposurerelatingtoabusiness,
statements,superannuation orthegivingofguaranteesetc.
statements,andfinancialstatements
foranycompany,partnershiportrust Ifonepartycanconvincethecourtof
inwhichonepartyisinvolved. theirsuperiorcontributionorspecial
skilltheymayreceiveanadjustment
intheirfavourofbetween60%to
70%ofthenetpoolofassets.
20
PART SIX. TAXATION ISSUES
CGT exemptions Ifamainresidence(previously
referredtoasaprincipalplaceof
Ingeneralterms,certainassetsare residence)istransferredbetween
exemptfromCGTincluding: spousesfollowingthebreakdown
ofrelationship,CGTwillgenerally
A
• ssetsacquiredbefore notbepayablewhenthepropertyis
20September1985. eventuallydisposedof–providedit
isstillusedasamainresidenceuntil
C
• arsandmotorcycles. disposal.
P
• ersonaluseassetscostingless
than$10,000.
Transfers from a company
M
• ainresidences. or trust to a spouse
CGTrolloverreliefapplieswhen
assetsaretransferredfroma
CGT rollover relief upon companyortrusttoaspouse
a relationship breakdown pursuanttoacourtorderor
bindingfinancialagreementupon
AutomaticCGTrolloverreliefapplies thebreakdownoftherelationship.
whenassetsaretransferredbetween HoweverfortheCGTrolloverrelief
partiespursuanttoaFamilyCourt toapply,thetransferofproperty
order(includingaconsentorder)or mustbetoaspouseandnotto
bindingfinancialagreementfollowing acompanyortrustcontrolledby
thebreakdownofamarriageora thespouseorassociatedwiththe
defactorelationship. spouse.(Aslaterdiscussed,there
maybe,however,consequences
Theeffectofthisisthatthespouse underDivision7AoftheIncome
transferringtheassetdisregardsany TaxAssessmentAct1936,onthe
capitalgainthatwouldotherwisebe transferofapropertyfromaprivate
payable.However,thespousewho companyortrusttospouse.)
receivestheassetwilleventually
havetopayanyCGTwhentheasset
iseventuallydisposedof–perhaps
inmanyyearstime.
21
CGT rollover relief is not Division7AoftheIncomeTax
always appropriate in family AssessmentAct1936dealswith
law disputes threeinstanceswhereaprivate
companymaybeautomatically
Theremaybeinstanceswhereit deemedtohavepaidadividendto
wouldbebeneficialforthecontrolling anassociate:
spousetobuyouttheexitingspouse
ratherthanrelyontheCGTrollover P
• aymentsmadebythecompany
relief.Forexample,ifabusiness toashareholderorshareholder’s
wasstartedbythepartiesandhas associate.
increasedinvalueovertheyears,it
maybeinthecontrollingspouse’s L
• oansbythecompanytoa
interesttocrystallisethevalueof shareholderorshareholder’s
thebusinessatthedateofthe associate(discussedinmoredetail
breakdownoftherelationshiprather below).
thantakeadvantageoftheCGT
rolloverprovisions.Thismaybe D
• ebtsowedbyashareholderor
thepositionespeciallyinrelationto ashareholder’sassociatetothe
businessgoodwill.Asthebusiness companyifthedebtsareforgiven.
wasstartedbythepartiesinthis
illustration,thegoodwillcostbaseis Deemeddividendsarisingfrom
nil. thetransferofapropertyorother
paymentspursuanttoacourtorder
Ifthecontrollingspouse,say,buys maybefrankedifrelatedtothe
theexitingspouse’sinterestinthe breakdownofamarriageordefacto
business,thesmallbusinessCGT relationship,otherwisegenerally
concessionsmayapply.Thismaybe deemeddividendsareautomatically
forthebenefitofboththecontrolling unfranked.
spouseandalsotheexitingspouse.
Division 7A consequences
on the transfer of an asset
between spouses
Thetransferofanassetorcash
paymentfromaprivatecompanyto
oneofthepartiescouldbedeemed
asadividend-eveniftheFamily
Courtorderedthetransfer.
22
Loan accounts and Division 7A anti-avoidanceprovisionsofPartIVA
consequences oftheIncomeTaxAssessmentAct
1936.
Loanstoassociatesofaprivate
company–includingshareholders, Broadly,theanti-avoidance
spouses,andrelatedentities–may provisionsaredirectedat
becomethesubjectofthedeemed arrangementsenteredintowiththe
dividendprovisions. soleordominantpurposeofgaining
ataxbenefit.
Division7Aprovidesthataloanfrom
acompanytoanassociatedperson
willautomaticallybedeemeda
dividendunlesscertainrequirements Stamp duty
aremet.
Thetransferofthematrimonial
Aloanoncommercialtermsis homefromonespousetotheother
excludedfromDivision7Aprovided spousepursuanttoanorderofthe
awrittenloanagreementisinplace, FamilyCourtorabindingfinancial
withinterest,capitalpaymentsand agreementisexemptfromstamp
otherfactorswhichmeetstrictcriteria. dutyineveryStateandTerritory.
Asdiscussed,forgivenessofaloan Asstampdutylawscanvaryfrom
willtriggerthedeemeddividend StatetoState,wewillfocuson
provisionsunderDivision7A. thepositioninNSWandVictoriain
relationtootherassets.
Aloancouldbeassignedtothe
spousewhowillretainthecompany PursuanttoaFamilyCourtorder
afterabreakdowninarelationship. orbindingfinancialagreement,
However,itisimportanttoobtainthe otherassetsareexemptwhen
relevantindemnitiestoensurethat transferredfromonespousetothe
thespouseexitingthecompanyis otherspouseincluding;listedand
protectedfromanytaxliabilitiesthat unlistedsharesandotherrealestate
mayresult. (suchasinvestmentpropertiesand
holidayhomes).Transfersofassets
fromaspousetoacompanyortrust
aredutiable-evenifsuchtransfers
Part IVA considerations arepursuanttoabindingfinancial
agreementorFamilyCourtorder.
Amatterthatshouldbeaddressed
inanyfamilylawsettlementinvolving
taxrestructuringortaxadviceis
thepotentialimpactofthegeneral
23
Taxation and realisation costs Company tax losses
TheFamilyCourtmaytakeinto Taxationlossesinacompanytobe
accountpotentialcapitalgainstax retainedbyaspousemayalsobe
(CGT),aswellasothertaxesand asignificantconsideration.Thisis
realisationcosts,whenconsidering becausetaxlossescanreducethe
thedivisionofassets: taxthatisultimatelypaidonfuture
profitsearnedbythecompany.
I
•fthereisnointention(orthe
evidencedoesnotestablish)
thatonepartyhastosellaCGT
assetintheshortterm,the
courtgenerallywouldignoreany
potentialCGTliability.Thatis,the
courtwouldnotincludeapotential
CGTliabilityinthepoolofassetsto
bedivided.
I
•fthecourtfindsthatthesaleof
aCGTassetisimminent.CGT
ismorelikelytobeincludedas
aliabilitywhenidentifyingthe
netpoolofassetstobedivided
betweentheparties.
Relationships l Solutions l Success
24
PART SEVEN. TAX EFFECTIVE CHILD SUPPORT
Childmaintenancetrustscanbea Insimpleterms,aparenttransfers
highlytaxeffectivewaytopaychild sufficientincomeproducingassets
supportfollowingthebreakdownof intothetrusttogenerateatleast
amarriageordefactorelationship therequiredsupportpaymentsfor
whileensuringthatvaluableassets childrenwhoarenamedastrust
areconservedforachild’slongterm beneficiaries.
security.
Thebeneficiariesofacomplyingchild
Childsupportispaidtothespouse maintenancetrustmusteventually
whoistheprimarycarerofchildren acquirethetrustheldassetsintheir
oftherelationship.Ifpartiescannot ownrightwhenthetrusteventually
agreeonthelevelofchildsupportto ends.
bepaid,theChildSupportAgency
willmakeanassessmentofchild Typicaltimesforatrusttoterminate,
supportbasedonaprescribed asstipulatedinthetrustdeed,vary
formula.Ifpartiescanagreeonthe widely.Sometrustsendafterall
levelofchildsupporttobepaidto beneficiariesreachaparticularage
theprimarycarerofthechildren suchas18,21,25orolder.Others
theycanelecttoenterintoaprivate trustsmayendwhenthechildren’s
agreementknownasabinding education(secondaryortertiary)is
childsupportagreement.Abinding completed.
childsupportagreementmaycover
paymentssuchashealthcover, Significantly,assetswithinachild
schoolfees,extracurricularactivities maintenancetrustareprotectedfrom
aswellasperiodicchildsupport creditorsandtrusteesinbankruptcy
payments. shouldaparentlaterexperience
financialdifficulties.Further,theflow
Achildmaintenancetrustprovides ofchildsupportpaymentsfromthe
ameanstopaychildsupportinthe trustisuninterruptedifparentslose
equivalentofpre-taxincome,leading theiremploymentandtheirsourceof
tolargeannualtaxsavingsforhigher income.
incomeearnersinparticular.
StatisticsfromtheAustralianBureau
ofStatisticsshowthathalfofthe
divorcesinAustraliainvolvechildren,
trulyhighlightingthesignificanceof
childmaintenancetrusts.
25
Apracticalconsiderationisthatboth thatordinarilyapplytothetrustor
parentsofachildmustconsentto investmentincomeofminors.
theuseofachildmaintenancetrust
topaychildsupport. Underanti-avoidancetaxprovisions,
trustorinvestmentincomereceived
Fortunately,thequarantiningof byaminorisusuallysubjecttoatax
assetsinatrustforthechildren’s freethresholdofjust$416(effectively
longtermbenefitshouldprovide higherwiththelowincometaxoffset)
considerablecomforttoboth andthentheentireamountabove
parentsfollowingthebreakdownof thisthresholdistaxedatpunitive
amarriageordefactorelationship rates.
–particularlyifatleastoneformer
spouseintendstoenteranother
relationshipandperhapshaveother
children. Protection for trust assets
Asmentionedearlier,assets
heldinachildmaintenancetrust
How child maintenance trusts areinaccessibletocreditors.
save tax Thisshouldgivereassuranceto
separatingparentsaboutthelong
Thekeytothetrusts’tax termsustainabilityofchildsupport
effectivenessisstraightforward. payments.
Incomegeneratedfromassets
transferredasaresultofa
family“breakdown”intoachild Negotiations between spouses
maintenancetrustforthebenefitof
childrenistreatedas“exceptedtrust Dependinguponthecircumstances,
income”underDivision6AAofthe someseparatingcouplesmayagree
IncomeTaxAssessmentAct1997. toacceptasmallerpercentageof
(SeeTaxRuling98/4forthetax thepropertypooltoenablesufficient
office’sinterpretationofthelawon assetstobetransferredintoachild
thesetrustsandadiscussionofthe maintenancetrusttherebysecuring
variousprovisions.) theirchildren’sfuturefinancially.
Thismeansthattrustincome However,asmentionedearlier,both
receivedbybeneficiariesunder18is parentsofachildmustconsentto
subjecttostandardadulttaxrates theuseofachildmaintenancetrust
–withthe$6000taxfreethreshold topaychildsupport.
andgraduatedmarginaltaxrates
–insteadofthepunitiverates
26
Aparentwhoisreluctanttoagree CGT and stamp duty
totheuseofachildmaintenance considerations
trustmaychangehisorhermindif
anintendedtrustheldasset,such Parentswhoareconsidering
asasmallcommercialpropertyfor contributingassetsalreadyownedby
example,islikelytoproducechild themintoachildmaintenancetrust
supportpaymentsinexcessofthe shouldbeawarethatthetransaction
childsupportassessment. couldtriggercapitalgainstaxon
capitalgainsduringtheirownership,
aswellasstampdutyonthetransfer.
Control of the trust Thepossibilityofbecomingliable
forCGTatthispointmaybea
Dependinguponthewordingof factorindecidingwhichassetsare
thetrustdeed,theparentwho contributedtothetrust.
contributestheassetstoachild
maintenancetrustmaybethe Smallbusinessownersmaybe
controllerofthetrust.Howeverboth eligibleforsmallbusinessCGT
parentsmaydecidetobecomejoint concessionsandexemptionson
trusteesofthetrust. “active”businessassets,including
commercialrealestateoccupied
byabusiness,ontheirtransfertoa
childmaintenancetrust.
Effective trust deeds
Anotherpossibletaxissueiswhen
Achildmaintenancetrustiseffectively trustheldassetseventuallyvestin
amodifieddiscretionarytrust. thebeneficiaries.CGTmaybecome
payablebythebeneficiariesatthis
TheArgyleChildMaintenanceTrust pointonanyincreaseinthevalue
isdesignedtomeetchildsupport oftheassetswhileheldinthetrust.
obligations;makeflexiblepayments However,thebeneficiarieswould
tothebeneficiaries;maximisetax typicallybeeligibleforthe50%CGT
advantagesforboththebeneficiaries discountforindividuals.
andtheparentwhocontributesthe
assetstothetrust;andallowfortax
effectiveloanstobeneficiaries.
Further,theArgyleChild
MaintenanceTrustprovidesforthe
tailoringoftrusteepowers–narrowly
orwidelytosuitthecircumstances–
andfortheprotectionoftrustees.
27
PART EIGHT. SPLITTING OF SUPERANNUATION
UndertheFamilyLawAct, Taxation and superannuation
superannuationistreatedasproperty splits
whichlikeotherassetsofthe
relationshipmaybedividedbetween Asuperannuationbenefitwhichis
couplesuponthebreakdownofa transferredfromthesuperannuation
marriageoradefactorelationship. accountofonespousetothe
superannuationaccountoftheother
Partorallofthesuperannuation spouseunderabindingfinancial
entitlementsofonespousemaybe agreementorcourtorderistreated
transferredtotheotherspouse. asarolloverbetweenfunds.
Significantly,superannuation Thetaxfreeandtaxablecomponents
savingsarenotnecessarilydivided ofthesuperannuationbenefitare
inthesameproportionsasother proportionatelydividedbetween
matrimonialassets.Theymaybe spouses,andthesuperannuation
dividedintodifferentpercentage benefitisnotsubjecttothestandard
splitsorspecificdollaramounts. superannuationcontributionstax.
Insomeinstances,separating In-specietransfersofassets,such
couplesmaydecidenottosplit asrealestateorshares,betweenself
theircombinedsuperannuation managedsuperannuationfundsare
savingsbuteachretaintheirown alsosubjecttoCGTrolloverrelief.
superannuationentitlements.
Thetrusteesofthesuperannuation
fundwhichisthesubjectofa
splittingordermustgivetheir
consenttothewordingoftheorder
orinthebindingfinancialagreement,
exceptwhenthesuperannuation
entitlementsareinaselfmanaged
superannuationfundandtheparties
aretrusteesofthefund.
28
THE ARGYLE FAMILY LEGAL OFFICE
ArgyleLawyersthroughTheArgyleFamilyLegalOfficetakesaholisticapproach
toprovidinglegalservices;focussingonindividualandfamilyneeds.Weprovide
advicedesignedtoassistyouandyourfamilycreate,buildandprotectwealth
throughgenerationalwealthtransfer.
Our multi-disciplinary specialists – covering such areas as family law, estate
planning, asset/wealth protection, property, taxation, superannuation and
successionplanningforfamilybusinesses-providesanadvisoryservice,and
identifiesneedsandobjectivestosupportyourfamily.
Sydney: Melbourne:
Level 22, 1 Market Street Level 8, Citicorp Building
Sydney NSW 2000 350 Collins Street
DX 876 Sydney Melbourne VIC 3000
Tel: +61 2 8263 6600 Tel: +61 3 8601 1121
Fax: +61 2 8263 6633
admin@argylelawyers.com.au
www.argylelawyers.com.au