NSW Is a Binding Financial Agreement Recommended?

[Sommai]

Married a Thai lady just about to come to Australia to live. I have property - a unit in which I live in and another investment one which is half paid for. I wish to protect my assets, offering half of any increase in value while we are together.

Now is a binding financial agreement recommended for this or should I know of another way to protect assets? Are binding financial agreements worth the paper they are written on?

 

[Alan Blumberg]

They certainly are worth it, but it has to be a reasonable agreement to be safe.

Your partner will need to get independent legal advice - as will you.

 

[Tim W]

Married a Thai lady just about to come to Australia to live. I have property - a unit in which I live in and another investment one which is half paid for. I wish to protect my assets, offering half of any increase in value while we are together.

Now is a binding financial agreement recommended for this or should I know of another way to protect assets? Are binding financial agreements worth the paper they are written on?

Yes, a BFA is always a good idea.

There are many folks on the internet who offer to prepare Binding Financial Agreements.
They are not all lawyers.
I suggest most strongly that this work best done by a lawyer who works in the area of Family Law,
as unromantic and distasteful as that may feel.

Oh, and on a related topic...
Just to be clear (since this is often the back-story in fact-sets like this),
getting married to an Australian citizen (or to a P/R)
does not in itself create any right for the foreigner to stay in Australia.