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Overview of Section 106B of the Family Law Act 1975
Section 106B of the Family Law Act 1975 is a critical provision designed to prevent parties from manipulating the asset pool in anticipation of family law proceedings. This element of the act grants the Family Court of Western Australia and Federal Circuit and Family Court of Australia the authority to set aside or restrain transactions [...]
The Owies Trust Controversy: When Family and Finances Collide
Trusts can be a powerful tool for preserving and distributing family wealth. The Owies Family Trust, with its generous asset base and complex beneficiary structure, appeared to be a model of financial planning. However, the estrangement of key family members in 2011 set off a chain of events that challenged the very essence of trust law.