The Bulletin --- Page: 58-59 : 30 January 2007 Original article by Michael Lawrence
ABIX Summary
Many of the ways that Australians safeguard their assets from creditors are being dismantled. Long-established strategies such as switching assets into discretionary family trusts and placing family homes under a spouse's name can no longer be relied on. Rulings by the Federal Court and High Court have catalysed stringent reforms to the Bankruptcy and Family Law Acts and exposed vulnerabilities in conventional methods of asset-protection. The Argyle Partnership's Peter Bobbin advises people whose personal assets may be at risk to reevaluate their asset protection arrangements.
