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Ask Leon Your Own Question
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 42645
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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I have seperated from my husband and are looking to move

Customer Question

I have seperated from my husband and are looking to move forward with divorce. In 2012 I paid tax on $180,000 that I believe is a part of a trust that his parents set up to reduce their tax bill. I never received the money and want to know if I am entitled to it?. I have a copy of the tax assesment
JA: Since estate law varies from place to place, can you tell me what state this is in?
Customer: Wa
JA: Has anything been filed or reported?
Customer: Only with tax department. Ready now for closure
JA: Anything else you want the lawyer to know before I connect you?
Customer: No
Submitted: 23 days ago.
Category: Australia Law
Expert:  Leon replied 23 days ago.

My name is ***** ***** I am a NSW Solicitor. I will do my best to assist you with your question.

Expert:  Leon replied 23 days ago.

Good Morning.

The law applies the following 4 steps in property matters

Step 1: Determine what the assets are and their value

This will include all assets and their value as at the day that you are dividing them. It does not matter whose name the assets are in, they will form part of the matrimonial pool. Superannuation entitlements are also included.

Step 2: Determine what contributions you and your Husband made towards the assets.

This includes a consideration of both financial and non-financial contributions. Consideration is given to what assets each of you brought into the marriage as well. The weight given to your initial contribution will be dependent upon the length of your relationship. The longer the relationship the less weight given to the initial contribution.

Step 3: What are each of your future needs.

Consideration is given to your respective ages, your comparitive income earning capacity as well as other factors.

IF these things don't balance equally for each spouse, then an adjustment is made in the percentages.

Step 4: Make an order that is just and equitable between both spouses

You would look at how to divide the assets to achieve the percentage division arrived at after the first three steps. Such as is the house sold, or retained by one spouse who pays the other out, does there need to be a superannuation splitting order, etc

The contributions you made would include the tax you paid towards the trust of his parents.

You would set that out in your application.

I hope this makes sense and is of assistance. If there is nothing further

thank you for using my services.

If I have missed anything, or you have any further questions please let me know

If there is anything else in the future please do not hesitate to ask.

Please do not forget to leave positive feedback.

Regards

Leon

Customer: replied 22 days ago.
As this Trust was done by his Parents do I need to take action against them. I just want to no are they liable to pay me the $180000
Expert:  Leon replied 22 days ago.

Good Morning.

You have lent the money to them.

If he is a beneficiary then he is entitled and this is how it would be listed in the family law action.

If he is not a beneficiary then you sue the trust.

Your solicitor would be seeking disclosure in this matter so he can then ascertain what assets he has and how you deal with it.