Szabo & Associates News & Updates

It was recently reported (available here) that a Melbourne millionaire has demanded a $10 million payment from her husband as part of a $120 million divorce battle, as a down payment for her to purchase a ‘suitable’ new home for both her and her children.

The reality is that when it comes to thinking about Wills and planning for a time when we are no longer around, a significant number of people can (understandably) fall into one of two camps: (i) some can think that thinking about planning for death is morbid and unnecessary, and should only be considered later in life; or (ii) drafting a Will is a simple process that doesn’t demand any great deal of attention or commitment. It is true that many people find the idea of thinking about what is to happen after they die to be unpalatable and would rather delay considering it until it became necessary. Further, a significant number of the population do believe that there isn’t any great challenge in creating a Will.

Separation is a difficult process and for many it is made even more difficult due to the fact that the financial support once received from their former spouse has ceased.

There is no doubt that negotiating and reaching an agreement with respect to your children is stressful, particularly where parental conflict is high. It does not however, have to be harmful for your children in the long run if managed well.