Family Law Changes Address the Financial Effects of Family Violence

Family law amendments have recently been passed by both Houses of Parliament and await assent. They send a strong message to the community that all forms of family violence are unacceptable and recognises the financial effects of family violence on individuals, and on the wealth and welfare of the family.

The amendments address the many challenges in the family law system, in particular:

-          Extensive court delays

-          Complex and confusing rules

-          Inadequate protection of people of risk of family violence

There is a focus on ensuring separating couples can better understand the decision-making framework used in family law to resolve their property and financial matters confidently and safely by:

-          Providing greater clarity of how family law works

-          Considering the economic effects of family violence

-          Safeguarding against the harmful disclosure of sensitive information

-          Encouraging the early resolution of disputes

-          Supporting the alternative dispute resolution process

Also, the amendments enshrine in the legislation aspects of the principles developed by the courts over the years, in their broad discretion to take into account the diversity of family circumstances including the following:

-          Approach a court is to take when resolving property matters

-          Duty to disclose financial information on a regular basis

-          Obligation on legal practitioners to inform their clients of their duty to disclose

-          Definition of a liability and wastage

-          The ownership of pets

Should you have any questions please feel free to contact John or Renee at DBS Accountants + Business Advisors for a confidential, no obligation discussion on 07 3666 0684.