They might not be terribly romantic, but the only reliable way to avoid expensive Family Court litigation after a relationship breakdown is via a family law Financial Agreement, also known as a “pre-nuptial agreement” or “Binding Financial Agreement” (“BFA”). It can be likened to “relationship insurance”.
A BFA sets out precisely what a couple wants to happen with their property and financial resources if they separate at any time in the future. A BFA can be entered into either before a couple marries or enters into a de facto relationship (including a same-sex relationship) or after a couple has already married or are living together.
Provided certain technical requirements are met and both members of the couple obtain independent legal advice, the BFA will be legally binding. BFAs are used to provide certainty and peace of mind to couples and to their wider families. They’re especially valuable when a family wants to protect family assets, such as a family business, from the effects of relationship breakdowns.
Our preference is to work collaboratively with your spouse or partner’s lawyer to make sure the process is as painless as possible and you can get on with your lives together.
Contact us to find out more or to arrange a consultation.