What Can I Put In A Prenup?

Things to consider for your Prenup

There are several provisions you should keep in mind when meeting with your lawyer to discuss what to include in a BFA.

 

Some provisions include:

 

  • A list of the property, assets, resources and liabilities you each own at the start of the relationship, together with their value
  • What you want to happen to your separate property, assets, resources and liabilities during the course of the relationship
  • How property, assets, resources and liabilities will be divided if the relationship breaks down
  • The effect of children on the provisions of the agreement, such as their impact on division of property
  • Whether wages or income will be combined or separate
  • Who pays for the rent or mortgage, and, if both, whether this is equally divided
  • What will happen if one party becomes unable to pay their share of the rent of mortgage
  • The effect of one party becoming a stay at home parent or working part-time, and how this will affect access to income
  • Whether spousal maintenance will be payable if the relationship breaks down

 

The provisions in a BFA are unique to each couple and dependent upon their financial circumstances.

 

Remember

A prenup is an agreement between de facto or soon to be married couples. If the agreement is made according to law, the correct legal term is a Binding Financial Agreement (BFA).

 

This BFA constitutes a Contract between the couple to the relationship.

 

There are different types of BFA’s depending on what stage of a relationship you are in. Please contact us if you would like more information about this.

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