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Difference between revisions of "Assets of Couples (3:IX)"
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**A spouse's beneficial interest in property held in a discretionary trust to which the spouse did not not contribute, and that is settled by a person other than the spouse are also excluded from family property under s 85 (f) | **A spouse's beneficial interest in property held in a discretionary trust to which the spouse did not not contribute, and that is settled by a person other than the spouse are also excluded from family property under s 85 (f) | ||
Family property is presumptively divided equally unless it would be significantly unfair to do so (ss 81 and 95 of the FLA). | Family property is presumptively divided equally unless it would be significantly unfair to do so (ss 81 and 95 of the ''FLA''). | ||
Family debt, which is new in the ''FLA'', is divided equally, unless equal division would be significantly unfair to one spouse. The value of all property is calculated at either an agreed date, or at the date of a court hearing. Any increases in the value of the excluded property that occur during the relationship are considered family property and are not excluded from division. | Family debt, which is new in the ''FLA'', is divided equally, unless equal division would be significantly unfair to one spouse. The value of all property is calculated at either an agreed date, or at the date of a court hearing. Any increases in the value of the excluded property that occur during the relationship are considered family property and are not excluded from division. | ||
