OVERSEAS ASSETS IN FAMILY LAW
Overseas Assets in Family Law Property Disputes
Parties to an agreed property settlement, or litigants involved in property proceedings before the Courts, must take into account and carefully consider any overseas assets or resources they have.
If you have overseas assets or resources, they must be disclosed to the other party. The Australian Courts can make Orders which are binding on a party to the proceedings to deal with overseas assets and resources in a particular way, or the Court may make Orders which take into account the existence and value of the assets overseas.
Other relevant issues to overseas assets and resources include:
- If parties cannot agree on the value of an overseas asset it may be necessary to obtain a valuation from an independent expert.
- The anticipated or possible taxation consequences, both in Australia and/or overseas, associated with the overseas asset or resource. It is important that advice be obtained in relation to any possible tax implications prior to entering into any property settlement or property Orders.
- Any issues related to the implementation and enforcement of property Orders affecting overseas assets or resources. It may be that a third party’s cooperation, or further Orders from the appropriate court in the overseas jurisdiction, may be required to implement Orders made by an Australian court. For example, enquiries may need to be made with the Trustee of an overseas superannuation or pension fund to implement a superannuation splitting or pension sharing Order made in Australia.
- Depending on the extent of the assets and resources that a party owns overseas and where each party is located, it may be appropriate for that party’s Family Law matter to be determined by the laws of that country. Therefore if you or your spouse own assets or have financial resources overseas, it is prudent to obtain legal advice.
Edwards Family Lawyers are experienced in matters where client’s and their assets are located overseas. We have experience in acting in matters involving overseas properties, companies, trusts, super funds and pensions. We have close relationships with international law firms and experts to assist us where the need arises. If you would like further advice, please contact us.
Divorce & Separation
Expert divorce lawyers
When married couples separate, there is only one ground for the grant of a Divorce Order, and that is the irretrievable breakdown of the marriage. This is established by the parties being separated for a minimum of 12 months. In some circumstances, parties can be living under the same roof and still be able to establish this ground.
Expert property settlement lawyers
Edwards Family Lawyers can assist you and your spouse/partner to come to an agreement in relation to all financial matters and issues arising from the breakdown of a relationship, including the division of all assets and liabilities, spouse maintenance payments, superannuation splitting orders and child support departure Orders.
Negotiation & Resolution
Expert negotiation and resolution lawyers
Opportunities for negotiation and settlement exist not only before proceedings are commenced, but also after proceedings have been commenced and right up until the time that the Court finally hears and determines the matter. Parties can settle a matter at any time.
Parenting & Children
Parenting and Children Family Lawyers
The best interests of the children is the paramount consideration when determining the most appropriate and suitable arrangements for the children after a separation. At Edwards Family Lawyers, we encourage our clients to participate in the counselling or mediation services available to assist them to reach an agreement with their spouse/former partner
Edwards Family Lawyers offer Mediation Services to assist parties to engage in effective dispute resolution. Our Principal, Frances Edwards, has extensive experience in negotiating settlements in both parenting and property matters, and is a National Accredited Mediator and member of LEADR and IAMA.
De Facto Lawyers
De Facto couples (including same sex couples) who separate after 1 March 2009 have the same rights as married couples. The rights and obligations of couples upon the breakdown of a Marriage or De Facto relationship are now all governed by the Family Law Act 1975. De Facto couples who separated prior to 1 March 2009 are still covered by the old State legislation
Our Family Lawyers are here to help
We navigate legal issues for our clients with empathy and a deep understanding of the associated stresses and implications. We can help you, like we have helped many clients in Sydney.
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Edwards Family Lawyers is committed to providing expert advice on all areas of Family Law following the breakdown of your marriage or de facto relationship, including same-sex relationships.
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We acknowledge the Cammeraygal and Gadigal people being the traditional owners of the land on which we work and their elders past and present.