Corporate interests, trusts and third parties
It is not only the matrimonial home, bank accounts, share portfolios and superannuation that form the basis of a financial dispute between a separating couple.
Any interest that you and your former partner has in corporate entities and trusts will also be taken into account. This includes any interest in a family business, which will likely be valued as part of the property settlement process. The Federal Circuit and Family Court of Australia has powers sufficient to regulate and deal with the parties’ operation of a company or trust and adjust their interests in it.
We regularly assist business owners and parties who hold interests in corporate entities and trusts, including both in Australia and overseas. We diligently work with accountants, valuers, financial planners and commercial lawyers to assist you in understanding the real-world outcome of your family law settlement, including immediate and possible future taxation implications.
A third party, such as a company, trust, business partner, creditor or extended family member may be joined to or may seek to intervene in property settlement proceedings if it is the case that they have commercial or financial affairs intertwined with the separating couple. We can represent and assist third parties with, for example, protection or recovery of assets, requests for the disclosure of documents or responding to (including objecting to) a subpoena.
If you or your former partner hold interests in corporate entities or trusts, or if you are a party whose financial or commercial affairs are intertwined with a separating couple, we encourage you to reach out to discuss your specific circumstances. Contact us