Family Law Newsletter – December 2024

Welcome to our Sydney Mills Oakley Family Law Newsletter for December 2024.
December 18 2024
*This newsletter was edited by Lawyer, Shannon Jenkin
Below we provide you with the latest updates on our team, recent developments in family law and links to interesting articles and case law in the family law arena.

Inside our November 2024 Edition

  1. Celebrating our recognition in the 2025 Doyle’s Guide
  2. Estate Planning and Rupert Murdoch's Loss
  3. Valuations in Property Matters
  4. Reminder: Firm Festive Season
  5. Client Testimonials

Celebrating our recognition in the 2025 Doyle’s Guide

We are delighted to announce that our Mills Oakley Family Law Sydney team has been recognised in the 2025 Doyle’s Guide for the eleventh year running. We are proud to have received the following listings:

  • Leading Family & Divorce Lawyers, Australia – Susan Warda recommended
  • Leading Family & Divorce Lawyers, Sydney – Susan Warda recommended
  • Leading Family Lawyers (High-Value & Complex Property Matters), NSW – Susan Warda recommended
  • Leading Parenting & Children’s Matters Lawyers, NSW – Susan Warda & Carly Mirza-Price recommended
  • Leading Prenuptial Agreement Lawyers, Australia – Susan Warda
  • Family Law Rising Stars, NSW – Antonia Marran
  • Leading Family & Divorce Law Firms, Australia – Second Tier
  • Leading Family & Divorce Law Firms, Sydney – Third Tier

We are thrilled to extend our heartfelt congratulations to our Team Leader, Susan Warda, for being recognised as one of just 15 solicitors in Australia featured in the Leading Prenuptial Agreement Lawyers – Australia 2025 category. This prestigious list highlights professionals renowned for their expertise in managing complex matters involving individuals and families with substantial asset pools and intricate financial agreements. Congratulations, Susan, on this remarkable achievement!

The Mills Oakley Family Law Sydney team look forward to continuing to deliver exceptional services to our clients, and positive solutions for their families, in 2025.

The link to the 2025 Doyle’s Guide can be found at: https://www.doylesguide.com/

Estate Planning and Rupert Murdoch’s Loss

Following a Nevada Court decision, Rupert Murdoch’s effort to modify his irrevocable family trust has been unsuccessful. As a result, the ownership of Murdoch’s media empire will remain equally divided among his four children, rather than being consolidated under the sole control of his eldest son, Lachlan Murdoch.

This serves as an important reminder of the significance of effective estate planning and clear Will provisions. The Mills Oakley Family Law Sydney team are committed to working with you and assisting with all your estate planning needs. If it’s time to update your own Will, please feel free to contact our Partner, Carly Mirza-Price, for expert guidance and support.

 

Valuations in Property Matters

In family law matters, when there is a dispute between the parties as to the value of a property in the matrimonial asset pool, the Federal Circuit and Family Court of Australia will typically order a valuation of the property.

In many cases, the largest shared asset will be the family home. There are common misconceptions about which figure should be adopted for property valuation in family law matters. Some believe it is the purchase price or the bank’s valuation, while others think it is the amount provided by a market appraisal.

While appraisals or bank valuations can offer some insight, an independent valuation is undertaken by a Single Expert Valuer who has specialised knowledge and adheres to professional valuation standards. Bank valuations may not accurately reflect the true market value of the property, as they tend to align with the lender’s interests to minimise their risks. These valuations typically take a more conservative approach and may overlook factors that an independent expert would consider, such as potential future market trends or unique property features. Consequently, a bank valuation can sometimes result in an undervaluation in the context of family law proceedings.

For guidance on property valuations in your family law matter, please contact the Mills Oakley Sydney Family Law team for advice tailored to your circumstances.

 

Reminder: Firm Festive Season Closure

Reminder that the firm closure for the 2024/2025 festive break will commence on Friday, 20 December 2024 and our offices will reopen on Monday, 6 January 2023. During this period, please contact us if you have any family law enquiries via email and we will endeavour to contact you as soon as possible.

The Mills Oakley Sydney Family Law team otherwise take this opportunity to wish you the compliments of the season and all the best for the New Year.

 

Client Testimonials

We work hard to ensure the best possible outcomes for our clients, and we value the feedback we receive every day. Here’s a snapshot of what some of our clients said this month:

“For the first time in 30 years I feel independent. And you ladies are a big part of that result” [to Partner, Susan Warda and Lawyer, Shannon Jenkin]

“Dear Carly and Susan, thank you again so much for your professionalism and kindness through this process. You beautiful ladies certainly make a big difference to people’s lives with the way you relate to and care for your clients. I wish you the most gorgeous Christmas time with your loved ones and a brilliant 2025!” [to Partners, Susan Warda and Carly Mirza-Price]

“Hi Maggie, Thank you to you (and team) for getting me through this and pushing so hard for a great outcome, yesterday especially. Longest day of my life I think! Your confidence and calm was such a huge help to me, you always offered your experienced opinion but never once made me feel pressured to make a decision I wasn’t happy with. Wishing you all a wonderful Christmas with your loved ones and a very Happy New Year.” [to Senior Associate, Maggie Faddoul]

“Thank you for a big day yesterday… I really appreciate steering and keeping me on track to resolve and close all open topics and wrapping things up in a day. Again, many thanks.” [to Partner, Carly Mirza-Price]

“Dear Martina, I really do want to thank you for your expert advice and support since we first met in January this year. You have been amazing. Thank you.” [to Partner, Martina Storgato]

Referrals are important to us. If you know someone who would benefit from a confidential conversation with a family lawyer, please pass on our details and we will do our very best to look after them.

If you would like further information on the above, or if you have queries regarding other any other matters, please do not hesitate to contact: