Recent Changes in Family Law
Q. Why do most couples in a relationship or marriage need the services of a family lawyer?
A. Protection, security and certainty
Just because we make a will doesn’t mean we are hastening our demise, just because we insure our car or house doesn’t mean they will be destroyed. We do it for the above-mentioned reasons and most people regard it as a sensible thing to do.
Why is it that raising the issue of an agreement between couples as to how their assets are to be divided if they were to separate is considered a negative action which could destroy the relationship.
Recent changes to the legislation allows all couples whether married or in a defacto heterosexual or same sex relationship to draw up a binding financial agreement either before, during or at the end of a relationship. This agreement sets out how assets will be divided if a couple separates. The agreement allows the parties to separate without the involvement of the Family Court and its attendant costs and acrimony.
Couples come to a relationship these days with varying assets and an expectation that these assets belong to them. Others receive sizeable inheritances or gifts from their respective families which are also seen to belong to them. Unfortunately if these are not detailed in an agreement the Family Court can split those assets at separation.
Why not have that discussion at the start of the relationship? Like insurance, draft and sign mutually agreed terms. After signing put it out of mind and work on maintaining the relationship.
If sadly the relationship does not last then the agreement will short-circuit arguments about who had what and received what and the values attached to them. At the time of a break up emotions are raw and memories poor as to what happened before and during. These agreements allow couples to end the financial ties and offer protection, security and certainty.
For any family law queries please contact Dorothy Pellew, accredited specialist in family law
Email : dorothy.pellew@hocw.com.au
Phone : (03) 9550 4600
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