What Is a Prenup and How Does It Work: 7 Important Steps You Need to Know
Prenup: Definition A prenup, short for prenuptial agreement, is a written contract that you and your partner sign before getting married or entering into a de facto relationship. It sets out what will happen to your property, finances, and sometimes spousal maintenance if you separate in the future. In Australia, a prenup is usually prepared […]
6 Important Reasons Why Arranging a Prenup Is a Wise Choice
Marriage is a beautiful union, but it’s also essential to consider the practical aspects. One way to protect your interests and establish clarity in the event of a separation or divorce is through a prenuptial agreement. Commonly known as a “prenup,” this legal contract can provide couples with valuable prenup benefits and peace of mind. […]
How Prenuptial Agreements Can Protect Business Interests in Marriage: A 6-Point Guide
How Prenuptial Agreements Can Protect Business Interests in Marriage: 5 Key Benefits Entering marriage as a business owner brings unique considerations, particularly regarding protecting your business assets. Prenuptial agreements are a strategic tool that can help safeguard business interests in marriage, providing clarity and certainty for both partners. By defining how business assets will be […]
Should I Sign a Prenup? 6 Important Things to Know Before Getting a Prenup
A prenuptial agreement is a legal contract between two people before they marry, outlining the division of assets, debts, and financial responsibilities if the marriage ends in divorce. While often perceived as unromantic, a prenup can be a practical tool to safeguard both parties’ financial interests and provide peace of mind. Should I Sign a […]
Prenup After Marriage: Is It Possible?
So, you’ve tied the knot, but you’re wondering if it’s too late to get a prenup. Good news! It’s never too late. In Australia, you can get a postnuptial agreement, which is essentially a prenup, but after you’ve said “I do.” Prenup vs. Postnup: What’s the Difference? A Binding Financial Agreement (BFA), colloquially referred to as […]
DIY Prenuptial Agreement Australia: Steps and Pitfalls
A prenuptial agreement, also known as a Binding Financial Agreement (BFA), outlines how assets and liabilities will be divided if the marriage ends in divorce. To draft a prenuptial agreement that is legally binding in Australia, you must adhere to the Family Law Act 1975. This includes full financial disclosure by both parties, the agreement […]
What Happens If You Sign a Prenup and Get Divorced
When you sign a prenuptial agreement (prenup) and later get divorced, the terms outlined in the prenup will generally determine how your assets and liabilities are divided. This legally binding document, created before marriage, specifies each party’s financial rights and responsibilities. It can cover various aspects, including asset division, spousal support, and debt allocation. If […]
Prenup vs. Will: Let Us Help You Understand the Difference
When considering the management of assets, many Australians weigh the benefits of a prenuptial agreement (prenup) against those of a will. Both legal instruments serve to clarify the allocation of assets, but they do so at different stages of life and under varying circumstances. A prenup is a contract entered into before marriage or a […]
Ex-Wives and Lottery Wins: Protecting Your Prize
So, you’ve hit the jackpot, and you’re probably wondering, “Can my ex wife claim my lottery win?” The short answer is it’s complicated but possible. Now, let’s dive into the nitty-gritty of Australian family law to unpack that answer. First things first, Australia follows a “no-fault divorce” system. This means that the reason for the […]
How to Protect Your Inheritance from Your Spouse
Inheriting assets or wealth from a loved one can be a bittersweet experience. Still, it also raises important considerations, especially when you have concerns about protecting your inheritance from your spouse in Australia. In family law, preserving your inheritance from potential relationship breakdowns requires a comprehensive understanding of the legal system and proactive measures to […]