Case we’re reviewing…
We’ve previously canvassed cases in which one party sets up a “sham” family trust as a means of funnelling funds into the trust so that it does not form part of the matrimonial pool of assets (and therefore denies their former spouse from a share of the assets/funds controlled by the family trust/company).
In the case of In the Marriage of Yates , the Family Court found that in this instance the trial judge had in fact erred by taking into account the family company (controlled by the Husband) as a financial resource of the Husband. In this case, the Husband was more or less fully responsible for the company’s operations and controlled the voting rights; however, when the matter was heard before the Family Court on appeal; it was found that the four children of the marriage were genuine and substantial “equity shareholders”.
The Husband’s voting rights could only enable him to obtain payment to the extent of his own interest in the company as there was nothing to suggest that he could appropriate assets of the company to his own purposes and deprive the equity shares held by the children. In other words, the family company which the Husband had control over was not a sham or mere puppet of the Husband.
Podcast episode we’ve enjoyed…
It’s the end of year and while you indulge in a few too many (of everything really); take some time to listen this great podcast epidosde from the Science of Success with Tom Rath; author of a host of books including “Eat, Move, Sleep”. Rath argues that small choices can lead to big changes and provides you with hacks to make those good decisions automatic so you can avoid “decision fatigue” and be on your way to a healthier & longer life. The podcast episode motivated us to download the book from Audible. We know the advice is not radically new or sexy – but the sensible and credible nature of the advice sure appealed to the realist in us.
Proverb we’ve liked…
The reputation of a thousand years may be determined by the conduct of one hour. | Japanese Proverb
Poem we’ve pondered…
Q & A
the most indispensable drug: a lie
the most realistic plant: a cactus
the oldest principle of settlement: plunder
the most effective Botox ingredient: lightheartedness
the loneliest place: the middle of the back
the hottest vessel: a kettle
the calmest expectancy: a fishing rod
the most challenging geography: the heart
the cruellest terrorist organisation: love
the greatest torture: hope
the toughest form of transport: the coffin
- Turkish Poet Karin Karakasli
Masters of Success…