Do I need a Prenuptial Agreement?
A prenuptial agreement is a contract usually entered into by individuals prior to marriage which sets out how the property will be divided should the relationship breakdown. Its primary purpose is to clearly define the financial arrangements between the parties and provide asset protection should anything go wrong.
- Prenuptial agreements can be made before, during or after the relationship
- They apply to marriages or de-facto relationships.
- The property which is protected includes cash, real estate, trusts, investments, superannuation, inheritance and family businesses.
When do I need a Prenup?
- When one person has substantially more property than the other at the beginning of the relationship
- When one person later become entitled to an inheritance
- When children from a former relationship need to be provided for financially
- When both parties simply want to clearly outline property division from the outset so as to not end up in court
Marriage vs. De Facto?
Since 2009 the same rules apply to both marriages and de facto relationships.
You are in a de facto relationship when you are living together full time on a genuine domestic basis but you’re not married.
Fact: Prenups are recognised in Australia under the Family Law Act 1975.
Protect your interests. Download our comprehensive Prenuptial Agreement now.