NSW My Fiancé Still Undergoing Property Settlement - Binding Property Agreement?

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now

Charli7

Member
18 October 2017
1
0
1
My fiancés financial settlement with his ex has dragged on.... so much so that we're getting married next month and although we thought we'd have it behind us by now... We won't.

Is there anyway I can prevent my assets - particularly my unit and savings being pulled Into the proceedings? Would a pre nup or binding financial agreement drawn up noting he has no claim to my assets and us keeping separate finances, bank accounts, etc help at all to protect these assets being calculated in my fiancés asset pool or being factored into his property settlement ?

I understand my wage may still factor into the total income of the household.

Thanks for your insights !
 

Clancy

Well-Known Member
6 April 2016
973
69
2,289
Regarding property settlement, It would be so much easier and fairer if the line was drawn where the relationship ended. But no, even after the relationship has ended the black hole of property settlement law keeps on sucking everything in after that point, the door wide open for all manner of weird and wonderful things to happen, it is really quite an amazing thing to behold, so counter intuitive to what a normal person would consider fair and reasonable.... Alice in wonderland, the mad hatter, counter logic, its all there. Do your living arrangements thus far leave you open to being defined as in a defacto relationship? If yes, then you have already been sucked down that wonderland rabbit hole were all kinds of magical things can happen with money/assets. If not, then definitely postpone the wedding!
 

Rod

Lawyer
LawConnect (LawTap) Verified
27 May 2014
7,716
1,055
2,894
www.hutchinsonlegal.com.au
A well written BFA will be recognised by most courts. If you have significant assets then a BFA is probably worth the expense.

Keep in mind that a court is not obliged to follow the BFA if the BFA doesn't take everything into consideration, including the prospect of kids.
 

Tim W

Lawyer
LawConnect (LawTap) Verified
28 April 2014
4,902
819
2,894
Sydney
A BFA is always a good idea.
Click here for a consumer tip,
in a similar thread
 

whenwillthisend

Active Member
6 June 2017
6
1
31
Regarding property settlement, It would be so much easier and fairer if the line was drawn where the relationship ended. But no, even after the relationship has ended the black hole of property settlement law keeps on sucking everything in after that point, the door wide open for all manner of weird and wonderful things to happen, it is really quite an amazing thing to behold, so counter intuitive to what a normal person would consider fair and reasonable.... Alice in wonderland, the mad hatter, counter logic, its all there. Do your living arrangements thus far leave you open to being defined as in a defacto relationship? If yes, then you have already been sucked down that wonderland rabbit hole were all kinds of magical things can happen with money/assets. If not, then definitely postpone the wedding!
So well put , and yes , this has been my experience