PROPERTY SETTLEMENT - COMPLEX DISPUTES
Valuation of Property
- In some matrimonial disputes, the property involved may be difficult to identify and also may be difficult to precisely value.
- As you will read in our Information Sheet entitled "Property Settlement - How the Court Determines Property Settlement", you will realise that each item of property that you and your partner own must be identified and valued as the first step in any property settlement.
- Sometimes this exercise can be very difficult, time consuming and expensive.
- Some examples of difficult issues that might arise in valuing property are as follows:
- You or your partner may own a business which needs to be valued;
- You and your partner may have an interest in various companies, Trusts or Partnerships which need to be identified and valued;
- You may not be aware of what property your partner owns and it may be necessary for investigative searches and enquiries to be undertaken to identify the net value of such property.
- We are experienced in dealing with complex property disputes and will be able to guide you through the minefield of enquiries that you may encounter.
- We also have a good working relationship with, and in various circumstances will employ, expert valuers to value not only items such as real estate, but more importantly to conduct valuations of interests in business, Companies, Partnerships or Trusts.
Restructuring
- Often it is necessary to effect a property settlement where Companies, Partnerships, Trusts, etc are involved.
- It will be necessary to carefully consider and deal with changes in ownership or interest in such entities.
- A settlement which leaves efficient structures in place and takes into account estate planning, taxation implications, stamp duty and other matters is a desired outcome for you and your partner.
- We have contacts with experienced Commercial Lawyers to assist in these matters and also are able to engage the services of specialist Accountants to advise in areas such as taxation and to assist in the complete resolution of your matter.
Capital Gains Tax and Stamp Duty
- In resolving your complex property dispute, you may be able to take advantage of exemptions from stamp duty and capital gains tax.
- If an Order is made by a Judge of the Family Court, or your property settlement agreement is recorded in a Consent Order, then any instruments to be stamped in accordance with that document will be exempt from stamp duty.
- Also, what is known as "rollover relief" will apply in relation to capital gains tax pertaining to the transfer or disposition of any assets contained in any Family Court Orders or Consent Orders.
- We can advise you in more detail about the advantages of these exemptions, which might be available for you.
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Dear Joe,
I commend you on the work you are doing on my behalf. I feel confident that the results from the efforts you and your firm are putting into my case will see me fairly treated and able to move on with my life in a positive way.
Yours sincerely
Laurel
