PRE-NUP – worth the paper they are written on?

In Australia, they are called a Binding Financial Agreement. They can be done before, during or after a marriage and yes, they are worth doing!

Whilst it is not a romantic conversation to have, having a binding financial agreement in place which covers what will happen with our assets and liabilities in the event of separation can save you a lot of time, money and conflict in the future.

We recommend having practical conversations up front to consider the possibility of a separation. A solicitor can then draft the agreement to formalise and the other party will need to see a solicitor for advice before signing at a different legal practice.

These can be particularly useful for de facto relationships when young and you do not go on to marry and have children or in second marriage or relationships when parties are seeking to protect their assets for their children.

Even if you go on to marry and have children and the agreement is not useful for a separation agreement, it will still be useful in evidencing the values of the assets and liabilities at the commencement of the relationship which is an important part of assessing your contributions in property settlement matters.

Book an appointment with one of our experienced and compassionate practitioners to get advice about your specific circumstances today

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