Dividing Up the Assets in Family Law Property Settlements – 4 program on demand webinar series

Program 1: Property and Financial Matters under the FCFCOA

A key reform of the new FCFCOA is the fast-tracking of property matters. But how does the pathway work and how have property matters been impacted by the court changes? This session examines the new landscape and how it impacts the management of property and financial matters in practice, including:

• Understanding the new Rules and Practice Directions
• Navigating the new Case Management Pathway
• Key inclusions in the Written Notice of Intention to Start Proceedings and Genuine Steps Certificate
• What should you be telling your client at the early stage?
• Determining where to file
• Dealing with urgent property or financial matters
• When do you need a Senior Judicial Registrar or Judge?
• What’s changed with dispute resolution?
• Cost implications for lawyers

Program 2: Into the Mix: Corporate Law in Family Law Proceedings

The waters can get murky when the parties to a family dispute are involved, either together or separately, in a company. This session will examine how to proceed and what strategies can be used to separate and account for the various interests, including:

• Relevant provisions of the Family Law Act and the Corporations Act and how to use them to achieve results
• Doing the due diligence on your client and their spouse/partner ownership and involvement in the company
• Are all interests relevant? Separating the wheat from the chaff
• Strategies for seeking information and disclosure
• Assets, valuations and future interests
• Optimising negotiations and assessing the practical and financial implications of:
  • winding up
  • asset and share sales/transfers
  • ongoing directors and officers
  • maintaining the company as a going concern
  • employment or termination of either party
• When should a company be joined as a third party in proceedings?
• The power of the FCFCOA to alter interests and make orders in relation to a third party
• Key terms in property settlements involving a corporate entity
• Relevant cases

Program 3: All Abroad: Navigating Overseas Assets in Family Law

Increasing migration has led to many people residing in one country but holding assets in another. This situation needs to be handled carefully when a relationship breakdowns and assets of the parties, wherever located, need to be taken into account. This session will provide a guide to practitioners on managing this additional layer of complexity in family law property settlements, including:

• Relevant factors in choosing jurisdiction for divorce and/or property settlement
• Disclosure and identification of overseas assets
• Obtaining foreign assistance, including legal advice, valuations and relevant third parties such as trustees
• The specific treatment of off shore superannuation and pensions
• Consideration of taxation and other financial implications of asset splitting, transfer and sale
• Assessing probability of enforcement of orders in the foreign jurisdiction
• Cost issues in pursuing foreign assets
• Relevant cases: Anderson McIntosh (2013) FLC 93-568; Sinha Sinha [2018] FCCA 2952
• Strategies for advising your client

Program 4: Ink on the Wedding Dress: Duress and other Ticking Time Bombs in Financial Agreements

Financial agreements are often drafted, signed and tucked away in the bottom drawer with the hope that they will never be looked at again. Yet, at the time when they are most needed, ticking time bombs can destroy any reliance placed upon them. This session will examine the make or break aspects of financial agreements and relevant cases, including:

• Obtaining independent and sound legal advice: Wallace Stelzer (2013) FLC 93-566; Hoult Hoult (2013) FLC 93-540; Daily Daily [2020] FamCA 486; Kaimal Kaimal [2020] FamCA 971; Beroni Corelli (2021) FLC 94-004.
• Compliance with the technical requirements of the Act: Black Black [2008] Fam CAFC 7; Abrum Abrum [2013] Fam CA 897; Grant Grant-Lovett [2010] FMCA Fam 162
• Compliance with subject matter requirements: Bloomfield Grainger [2018] Fam CA 36
• Section 90K of the Family Law Act, particularly the consequences of fraud and failure to disclose: Nyles Nyles [2011] Fam CA 565; Acker Acker [2014] Fam CA 891
• The impact of undue influence and unconscionable conduct: Thorne v Kennedy [2017] HCA 49;Teh v Muir [2017] Fam CA 138; Gongsun Paling [2020] Fam CAFC 244
• Essential considerations when drafting financial agreements