Not all family law is practised after the breakdown of a relationship. In fact, a great deal of our work is both in the stages leading up to a separation to assist in preparing, and also at the point where people start to merge their lives together.
When you receive an inheritance, or a loan from family, a big gift from family, or just start a relationship with more assets than your partner, you may wish to try to protect those assets in some way.
The Family Law Act 1975 allows for agreement, called financial agreements, made before, during and after both de facto and married relationships. These agreements can deal with what happens to assets or maintenance obligations in the event that you separate. We can draft documents that protect and deal with everything, or simply seek to carve out protected or isolated assets for you.
There are important restrictions on what these agreements can and cannot do, and whether they might be challenged in the future. With the right advice, and a full understanding of the risks involved, these financial agreements or ‘pre nups’, are a bit like relationship insurance, and well worth the investment to clarify your financial position, give family some reassurance, and clarify your financial roles moving forward.
We are experts in having these conversations, helping to identify interested parties and stakeholders, and ensuring you have clarity in entering your financial agreement.
If you are looking at drafting an agreement, or have been presented with one to sign, call us today to talk through your options.
OUR FAMILY AND RELATIONSHIPS TEAM
Richard Hamilton
Erin Trantino
Stacey Raphael
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