Szabo & Associates News & Updates

If you are thinking of buying a property with a friend or partner there is a choice of the type of ownership. There are essentially two choices which are as Tenants in Common or as Joint Tenancy. There are important differences between them and it is important to understand the legal and financial effects, including estate planning, of these two ownership types. For example, a bank financing the transaction will need to know should there be a default by a party.

When parents separate, one of the key issues that may arise is the residence and contact arrangements for any children. The family law system encourages parents to work out arrangements for their children without the need of Court intervention. However, this is not always possible and either parent can apply to the Court to have the matter resolved.

The date of separation is relevant in family law property matters because the Court takes into account the contributions made by a party during the relationship. As such, the date of separation can have a considerable impact on the division of assets during their property settlement.

The concept of what is best for a child’s welfare, or what is in the ‘best interests of the child’, pertains to those principles used by a Court to decide the best outcome for a child given a particular set of circumstances.

Most people recognise the importance of a Will but looking after it is important too. This may seem obvious but what does it mean in practice?