Navigating Gifts and Loans from Family in Relationship Breakdown

The housing market's increasing challenges have led many young couples to rely on financial assistance from parents and relatives to purchase their homes.

Research by the University of Sydney found that in Australia two in five young adults expect they will receive family help to buy their first home purchase.

While this can be a great help, it can also become a source of conflict in the event of a relationship breakdown which we know is about half the time.

Disagreements then arise about whether the funds were a gift or a loan. The distinction between the two is crucial because it can significantly impact the division of matrimonial assets and can unfairly prejudice lenders if the court gets it wrong.

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Bonnie Esposito
A discourse with ChatGPT about AI in the legal profession

There is no doubt that AI will progressively transform the legal profession

Lawyers are already using AI for various tasks such as contract review, case summaries, document review and discovery, legal opinions (with varying results!), social media content, predictive analyses, compliance and legal research to name a few.

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Bonnie Esposito
Why is Focus on Family a different kind of law firm?

At Focus on Family we help people navigate through the financial aspects of their divorce or separation, and to assist with parenting disputes. After years of helping clients, it’s obvious to us that there is no one solution that applies to all families, and we have seen the importance of people retaining control of their own outcomes.

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Bonnie Esposito
How are family law property settlements formalised?

We LOVE it when separating couples reach an agreement by themselves, or with the help of a mediator. But the key to ensuring the agreement sticks and people can move on without future risk of a claim by the other is to have it legally formalised. Until it is formalised by one of the two ways provided for in the Family Law Act, a party can withdraw consent to the agreement (yes, even if you have put the terms into effect!) and make a claim for a different outcome in court.

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Best interests of the child – What does it mean?

As a family law lawyer, the phrase, ‘best interests of the child’ rolls off my tongue numerous times a day. It’s enshrined in litigation and brandied around as if there is an obvious and accepted meaning to the term. “The Court will determine the issue based on the best interests of the Child,” I say, as if there is some mathematical formula that can be applied to any child to determine the perfect solution to where he or she spends their time and who is responsible for decisions affecting them. If only it were so easy!

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Bonnie EspositoComment