What happens to my estate if my children get divorced? - Kathryn Heuer -
Your Will allows you to give assets that you personally own to those persons that you nominate. Often these people include your children. But what happens if your children get divorced?
Once those gifts are received they become the property of the person to whom they were left. This can lead to unintended consequences when the recipient of those gifts then finds themselves in a situation where their relationship, be it marriage or de facto, breaks down. In the family law system when a relationship breaks down the first task of the court dealing with the financial settlement between the separated spouses is to determine what is the property of the parties and how it is to