Welcome to the Family and Personal relationships section of our blog.
De facto couples are entitled to much of the same financial, property, and parental rights that the law affords to married couples. In this article, we’ll answer some frequently asked questions to help you understand how the law defines and identifies de facto relationships.
Getting your prenup done may not be high on your wedding preparation to-do list but we explain why it’s a really bad idea to leave it till the last minute and why it may put the agreement at risk.
One of our customers contacted us this week, enquiring as to whether his long-term local lawyer, who had acted on behalf of himself and his wife for many years, could prepare and finalise his Financial Agreement. The difficulty with appointing your family’s long-standing lawyer to finalise your agreement is that the same lawyer cannot act for both yourself and your partner. This can raise all sorts of issues for the couple and the agreement.
“I inherited some money from my father and a friend separately and some years apart. I subsequently bought a flat (apartment) for roughly to the same value as both inheritance monies combined. I am now divorced and about to go through the legal process to sort out the assets as both parties cannot agree on a settlement arrangement. Are those inheritance monies considered part of my asset pool from which my ex-wife has a claim?”
A couple has an obligation to maintain each other, even after their relationship breaks down. The likelihood of spousal maintenance being paid, and the extent of the payments, will vary depending on various factors – firstly, whether one party can actually afford to support the other, and to what extent.
Lending money to friends or relatives can be a risky activity, especially when the terms are vague. Putting the arrangement in writing allows each party to know where they stand and stops potential problems.
Fraud and undue influence are two factors that may negate a person’s otherwise valid consent to a Binding Financial Agreement. We look at a couple of examples of how these factors contributed to agreements being overturned.
A recent case in the Family Court set the precedent of allowing the Australian Tax Office (and other bodies) to access family court documents for purposes unrelated to the court proceedings such as tax audits and assessments.
Video explaining why a couple needs to get legal advice when entering into a Financial Agreement.
Anna sent in this Burning question – she asks “Why do some say that they are absolutely necessary and others say that they are very easy to break? Is a good lawyer and prenup non-existent? Would love to know a bit more about prenups?” It’s a great question! Read more
When can my de facto partner make a claim on my assets? Read more
Moving in together is a big step. We look at the reasons why you might want to use a Cohabitation (Financial) Agreement and how to talk to your partner about it. See the Slides
Living together is a milestone in any relationship. But these days, because de facto couples have effectively the same rights and obligations as married couples under the Family Law Act – it’s not a decision that should be made without consideration to the financial implications. We look at a few of the reasons you might want to consider using a Financial Agreement. Read more
Registering your relationship is an easy and inexpensive way to formalise your de facto status and formally express your commitment to each other. There are also a number of legal benefits for doing so – Read more
Money is a major source of conflict in personal relationships. Open and honest communication about financial goals and money habits is a useful strategy for minimising money arguments. Read more
While we increasingly have the freedom to select (and de-select) a partner without fearing the repercussions of societal stigma, divorce is still one of the most traumatic experiences a person might ever face. Consider these 8 ideas that increase the chances of your marriage lasting? Read more
Once a relationship moves to the more serious phase of moving in together, then the more mundane practicalities of partnering up become important. Considering that money problems are the number one reason for relationship woes and breakups, it makes sense that a couple should learn to discuss finances.
In Part 1 we explained what an STD is and how they can occur, Part 2 looks at practical tips for avoiding them. The key tip is learning to communicate with your partner about financial matters and building trust before commingling finances.
The term “Sexually Transmitted Debt” is used to describe debt incurred by one party in a relationship on account of the other. Women are more likely than men to incur an STD.