Contributions by family members to the purchase of a property and how this is recorded can affect property ownership. We discuss how you can help your children and, at the same time, lessen the risks to you as parents.
When it comes to the evolution of intimate relationships, there is no textbook timeline – some people tightly entwine their lives within mere weeks; others keep it casual for years.
When a marriage, civil union or de facto relationship breaks down, the couple will usually divide their property according to the Property (Relationships) Act 1976 (the PRA). However, these two people often hold property in a trust rather than personally.
Once largely the domain of the well-heeled, personalised agreements about what will happen to assets in a relationship should a couple separate, or one partner die, are becomingly increasingly mainstream.
We like to think of it as the “season of goodwill”. For many families, though, the holiday season can be extremely testing and feel anything but merry following a separation.
