A Prenup and a $2 million dollar engagement ring
Kim can keep her ring so says Kris, but only if she pays him a handsome US$2 million! As the celebrity marriage between Kim Kardashian and Kris Humphries ends, it highlights for those of us on the side-line the wisdom of a pre-nuptial agreement (called a Financial Agreement in Australia under the Family Law Act).
A prenuptial agreement appears to have been a wise precaution. Did you know that in Australia, Financial Agreements can be made by de facto or married couples before, during or after the relationship? Financial Agreements provide certainty to the mechanisms and processes by which the parties can separate their affairs if need be. US$2 million for a 20.5 carat ring – the question remains will Kim buy it?
On 7 November 2011 Lawyer Mark Streeter was asked for further comment on this story by nineMSN News. Read Mark's response at ... >>nineMSN NEWS Web Portal
Supreme Court decision needed for child's funeral
When couples with children separate it can mean additional complexity over custody and shared parental responsibilities. What if the child dies? Who decides who can arrange the funeral?
There is a NSW Supreme Court judgment resolving a very difficult situation in which the parents of a deceased 14 month old baby were arguing about the organisation of the funeral and the burial site for their little child.
Sadly, each year the Family Law Courts see a number of very serious disputes about the care of children. In this case, the child died as the result of a serious illness. After a coronial and post-mortem examination, each of the parents made separate arrangements for the child’s burial.
Read what the Court decided any why... >> Child funeral arrangement decided by Supreme Court
Binding Financial Agreements – Read before you sign
Feeling duped by his wife’s financial windfall only weeks after the settlement of their binding financial agreement, Mr Nyles made an application to the Court to set aside the binding financial agreement.
Interestingly, despite full and frank financial disclosure being a fundamental element of justice that applies as much to out of court settlements as it does to contested proceedings, and the fact that the Court found that Mrs Nyles had indeed failed to make a full and frank disclosure of her financial situation, Mr Nyles application failed as it was found that he had not been induced to enter into the agreement by any misconduct from his wife. He had in fact made an informed decision.
Read carefully before you sign. Intrigued? For a more extensive explanation of this case, click here...
>>Share float complicates Binding Financial Agreement
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