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In a De Facto Relationship - How to Protect My Inheritance?

Discussion in 'Family Law Forum' started by Emily M, 9 April 2014.

  1. Emily M

    Emily M Member

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    My partner and I have been together for nearly 3 years in a de facto relationship. Neither of us have any substantive assets as we’re renting, but I just received an inheritance from my grandfather. What should I do to make sure my assets are protected in the future?
     
  2. Joe C

    Joe C Member

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    Based on what you've said, a binding financial agreement seems to be the best way to protect your assets. You can get an agreement drafted now during your relationship to set out how your assets (and specifically that inheritance amount) will be dealt with if your relationship breaks down.

    You will need to speak to a family lawyer to make the an agreement because for a financial agreement to be legally binding, you must both have:
    - signed the agreement, and
    - received independent legal advice before signing.

    Remember your superannuation will also be considered in a financial settlement, so it's good to think about this and document your wishes.

    Having a binding financial agreement means that you will have agreed on the division of assets up front and can avoid having to fight things out in court if your relationship doesn't work out.

    Source: http://www.familylawcourts.gov.au/wps/wcm/connect/FLC/Home/Property and Money Matters/If you agree about property and money/
     
    @thelawbundle likes this.

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