Family Law and Marriage

No-one ever enters into a marriage thinking it is not going to last the test of time, however as statistics show us, in 50% of the cases we are likely to be wrong.

Whilst I am not a big fan of unlimited, unbound Binding Financial Agreements (BFA’s), which someone may pull out of the drawer 25 years later in the event of separation, I do believe that BFA’s are a great tool to provide protection for both parties in the event of a breakdown of a marriage in the short to medium term.

By that I mean, BFA’s, that by their drafting require review based on defined events or periods of time, enable couples to give conscious consideration to the splitting of financial assets in the event of a breakdown. We all know that a lifetime is a long period of time, and much can happen in that time, including things such as children, sickness, windfalls, losses, prosperity and hardship. Trying to make an agreement to last indefinitely to take account of all of these things can be extremely challenging and down the track can result in outcomes which neither party anticipated and would have agreed to if they had a crystal ball.

Getting skilled and balanced advice in all of these areas is important to ensure we do not create an agreement which just ends up costing us more in the long run to defend or challenge to create a sense of fairness and equity.

Should you have any initial questions, please contact us direct for a no obligation consultation.