Exposes all the assets in your own name. Family Home, cars, luxury items, personal affects. The biggest threat is not the litigation itself, but the time taken in the legal system, the stress and distraction of it all and the escalating legal fees and costs associated.
Exposes all assets, all companies, all trusts, all superfunds where the key person, director or trustee is threatened with insolvency.
Exposes all assets, all companies, all trusts, all superfunds where the key person becomes incapacitated and can longer perform their duties.
Exposes all assets, all companies, all trusts, all superfunds where the key person, director or trustee passes away. Most people who have a will assume that all of their personal assets including home, investments and super would be paid out in accordance with their will. Wrong!!! Any family provisions claim override a will.
Exposes all assets, all companies, all trusts, all superfunds in the event of remarrying and bloodline beneficiaries can miss out. After your new spouse has been in a defacto relationship with you for 2 years then they have full recourse against all assets