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Asset Protection
When you’re starting out in a new relationship you may find it hard to consider what may happen if you were to separate from your loved one in future. If you have assets you wish to protect in the future it is worth thinking about entering into a “pre-nup” or Binding Financial Agreement with your partner. A Binding Financial Agreement is specific to your needs for asset protection.
The document includes:
- Your assets at the time you enter the relationship;
- What happens to assets you acquire together during the relationship;
- How you will pay for accommodation expenses, particularly if you are living in a property owned by one party paying a mortgage in their sole name; and
- How the distribution of assets will be dealt with upon any separation.
You can enter into a Binding Financial Agreement if you are in a new relationship, an established de facto relationship, or if you are already married.
If you would like to protect your assets for the future, please call Family Law Matters on (02) 9523 3007 to arrange an initial consultation with Antonella Sanderson.
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