Debts in the asset pool - Family law

Описание: In this video, Debra Effeney and Bridget Donaldson from Michael Lynch Family Lawyers discuss the inclusion of debts in the asset pool during family law property settlements. They explain that the asset pool consists of both assets and liabilities, including debts incurred before, during, and after a relationship. Types of debts discussed include HECS debts, credit card debts, and business liabilities. The video highlights how courts consider various factors when deciding whether to include specific debts in the asset pool, such as the mutual benefit from the debt and whether both parties were aware of it. They emphasise the importance of the disclosure process in understanding the financial positions of both parties and ensuring a fair settlement.

If you’re going through a difficult family law matter, whether a divorce, child custody or property matter, obtaining advice from a specialist family law lawyer is vital. To speak with one of our experienced family lawyers, please contact our Brisbane office today to organise a no-obligation initial appointment at a fixed-cost.


Disclaimer
This video contains general comments only and should not be relied upon as specific legal advice. Readers should contact this Office for detailed information or advice on any topic in this video. Changes to the law occur regularly, no responsibility for any loss or damage caused to any person acting in reliance on this video and general information shall be accepted by this Office. No part of this video may be included in any document, circular or statement without our written approval.