Szabo & Associates News & Updates

In its simplest form, a property settlement is an agreement made when a married or de facto relationship comes to an end that sets out which party will get what with regard to the assets of the relationship.

While writing your own Will, using a DIY kit may seem attractive from a cost viewpoint, it can be a risky approach to take. If errors are made or if witnessing rules are not followed correctly, the document could be invalid. Before examining these risks more fully, outlined below is a recent example of what difficulties can occur when writing a self-prepared Will without suitable advice. The turmoil in the estate of Peter Reid highlights the extent to which matters can go wrong if a Will is ill-prepared.

Compensation in compulsory purchase situations is usually calculated by reference to what the dispossessed landowner has lost. Of primary importance is the market value of the land being acquired, as well as the costs incurred for advice and relocation costs incurred. Reforms introduced in 2017, however, mean that dispossessed landowners can now seek compensation on the basis of ‘reinstatement’ elsewhere. This means that compensation can be claimed based on what the dispossessed owner is required to acquire in order to reinstate the business in another location rather than the value of what has been lost as a result of the compulsory purchase.

In July 2020, the Australian Institute of Family Studies published its report Families Then & Now: Couple relationships. This report outlined some key trends regarding couple relationships in Australia. It pointed out that while the marriage rate has declined, the rate of cohabitation has increased. In 1986 6% of all couples were cohabiting, and this proportion has steadily increased across the census years to 12% in 2001 and to 18% in 2016. These relationships represent a significant and growing sector of the population and an increasing importance in family law.