The powers of the Family Court to make orders between spouses which have regard to assets held in family trusts is a matter which planners must take into careful account. This paper provides an overview of the crucial Family Law Act provisions and commentary on how they work in practice, including covering:
- family trust assets as a "financial resource" of a beneficiary who is a party to a matrimonial dispute
- the powers of the Family Court to make "third party orders" directly against family trusts and their assets
- recent case law and the Family Court's approach to dealing with family trusts
- issues for family trusts once adult children and their spouses take over effective control upon the death of parents.