You may enter into a prenup at any point of your relationship. The official term for ‘prenup’ in Australia is a Financial Agreement.
Having a financial agreement in place ensures that you make your own rules about how you would like to split your assets in the event that you decide to separate in the future.
You do not need to have entered into a financial agreement before a relationship or marriage. You can see a lawyer at any point to get it done. This means you can get it done during a relationship, after your marriage, even after you separate.
Be mindful that both people in the relationship will need to receive independent legal advice to ensure that the financial agreement is valid.
It is not usually recommended that couples sign a financial agreement immediately before their wedding, as it could later be argued that the financial agreement was only signed because there was pressure on one side to pull out of the wedding.
In certain circumstances, if you enter into a financial agreement before having children, and separate and try to rely on the financial agreement after having children, a court may say that the financial agreement is no longer binding on both parties.
There are different types of financial agreements depending on the nature of your relationship. It is important that you make an agreement that is suitable to your circumstances. For more info on the different types of BFA’s, please contact us.