When it comes to determining what is “property” in family law matters, the Family Law Act and the courts interpret the term very broadly. While most people consider “property” as being, the family home, motor vehicle and furniture, the scope is much wider and may include interests in business, shares, redundancy payments, superannuation, inheritances and even assets that you may have acquired prior to your marriage.
At times, when recognising the broad interpretation of “property,” people can make the mistake of thinking that such items in the property pool can be hidden from the other party through the instigation of a company or trust. This is a big mistake.
When it comes to considering “property,” the law is complex.
Accordingly, it is very important to protect your rights and McNamara & Associates are family law experts and can help you in this regard.