Protecting Both Hearts and Assets: Why Every Couple Should Consider a Financial Agreement

Prenuptial or binding financial agreements are often thought of as something only the rich and famous need. However, with rising divorce rates and many couples moving in together quickly, particularly due to Sydney’s challenging housing market, these agreements are more important than ever. You may even find yourself in a de facto relationship without realising it.

A binding financial agreement (BFA) between a couple isn’t about keeping finances separate or disadvantaging one partner. Instead, it’s a practical way to outline who owns what and, in the event of a relationship breakdown, protect each person’s assets. BFAs can also help limit the impact of a de facto relationship on how your estate is distributed under your will.

Love Later in Life

If you’re entering a new relationship later in life, a financial agreement is worth serious consideration, especially if you’ve already written a will.

• It helps ensure your assets are distributed according to your wishes.

• It can safeguard children's interests from previous relationships.

If you wish to know more about binding financial agreements between de facto partners, or financial agreements in general Verde Lawyers may assist you.

Contact us today at Verde Lawyers at info@verdelawyers.com or 02 9283 5290.