Family Lawyers can help you Protect your Rightful Share
After marriage, it’s a common tendency to treat individual assets including houses, cars, boats, jewellery etc as a shared pool of assets between partners. Contrary to popular belief, family lawyers suggest that inherited property does not automatically fall under the shared pool of assets. Each divorce is characterised by different circumstances and thus, each case is unique in its own way. Distribution of property in divorce cases, including inherited property, is decided according to the guidelines listed in the Family Law Act under Australian law.
In fact, keeping in mind the increasing rates of divorce in Australia, it’s important for couples to be aware of laws governing the distribution of inherited valuables, assets and property. Hence, it’s important for couples to understand how different factors play a role in deciding the distribution of inherited property in case of divorce.
- The manner in which the Family Court will decide distribution of inherited assets will depend to a large extent on the nature of the bequest. Some assets or property may be bequeathed to one partner while others may be bequeathed to both.