Whenever a divorce occurs one of the primary elements that need to be resolved is the financial settlement, and it is imperative that legal advice is sought from a family lawyer such as Family Lawyers Perth.
One aspect of the financial settlement that often causes the most confusion and angst is in relation to money and property which the couple has received from their respective families, especially their parents.
More often than not, this is money that one set of parents has given the couple, either at the time of their marriage or subsequent to it. When a divorce occurs, how this money is accounted for will play a large role in its division as property, if it is in fact regarded as property at all.
This is due to the fact that in several divorce cases, one of the parties to that divorce has claimed that money given to them by parents or the family is a loan, as it suits their position, while in other circumstances it will be claimed it is a gift by one of them.