Published on 26 Mar 08
by VICTORIAN DIVISION, THE TAX INSTITUTE
The powers of the Family Court to make orders between spouses which have regard to assets held in family trusts is a matter which planners must take into careful account. This paper provides an overview of the crucial Family Law Act provisions and commentary on how they work in practice, including covering:
- family trust assets as a "financial resource" of a beneficiary who is a party to a matrimonial dispute
- the powers of the Family Court to make "third party orders" directly against family trusts and their assets
- recent case law and the Family Court's approach to dealing with family trusts
- issues for family trusts once adult children and their spouses take over effective control upon the death of parents.
Peter works for M&K Lawyers. Current at 01 April 2014
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