Many parties entering into a marriage or de facto relationship are worried about what will happen to their assets and liabilities if the marriage or de facto relationship ends.
In particular, a person about to get married or commence living with a partner may be concerned that they will lose assets to their partner in the event of a future separation, or even be made responsible for their partner’s debts.
Fortunately, under the law in Australia, pre-nuptial agreements – properly known as Binding Financial Agreements (or BFAs) – are available to provide certainty between the parties to the marriage or de facto relationship as to how their assets and liabilities will be divided in the event of a separation, and to opt out of having their property settlement decided by the Court.
It is not only possible to enter into a Binding Financial Agreement (BFA) at the beginning of a marriage or de facto relationship in Australia, but it is also possible to enter into such Agreements during and after the end of the marriage or de facto relationship.
So if a Binding Financial Agreement is something you would like to discuss, you are welcome to call Sanicki Lawyers today to arrange a confidential advice session.
If you are contemplating entering into a BFA at the end of a marriage or de facto relationship, please note that time limits apply to bringing Court Applications for property settlements if the parties cannot agree to what their settlement should be.
So don’t delay – call Sanicki Lawyers today to arrange a confidential advice session.
Feel free to contact Stephanie Hope, Senior Associate and Head of Family Law at Sanicki Lawyers at firstname.lastname@example.org .au or call on 03 95109888.