Prenups

A ‘Prenup’ is a Binding Financial Agreement made under Section 90B (before marriage), 90UB (before relationship), or 90UC (for de facto relationships) of the Family Law Act.

It is a contract between couples about to commence a relationship which determines how their property will be apportioned if they separate. It ousts the jurisdiction of the Family Court. Properly and fairly done, they are binding.

Both parties need to have independent legal advice, and must be prepared to disclose their financial circumstances to each other.

Quarantining Family Assets from the Family Court

To understand how the Family Court treats pre-existing assets, gifts, inheritances, and family trusts, this is the first article to read to learn more about Prenups. All property, whether acquired before the relationship began or obtained after separation, is pooled for distribution. Only a Prenuptial Agreement can safeguard your assets and ensure they remain protected. Read on to learn how a prenup preserves financial security.

Family Law and Prenups Explained

To understand why the need for a prenup, this is an extension on how Binding Financial Agreements protect pre-relationship assets, inheritances, gifts, and trust resources from Family Court intervention. This article explains legal requirements, notable case law guidelines, and comprehensive drafting strategies to ensure enforceability, empowering you to secure assets, safeguard blended family inheritances, mitigate risks, and avoid forced estate planning.

Prenups mandatory for Blended Families

Wills and Estate lawyers carefully ensure that in a Blended Family, Wills, Powers of Attorney, and the like are in place in case of death. But rarely is any serious consideration given  to a separation, which happens to over 50% of relationships.

Bank of Mum and Dad v Family court

Young couples wanting to get into the property market are having a hard time of it. Interest rates have skyrocketed, as has the value of property.

Enter the Bank of Mum and Dad. How is the loan to be recorded? What if they separate? The answer is a limited Financial Agreement which is executed by the couple and the parents providing the funds.

time running out for baby boomers to thwart family law claims

This article deals with the Court including recent inheritances, particularly from Baby Boomers, in the asset pool.