Prenuptial agreements in a de facto relationship in Australia
There was a time that family meant only legally married couples and the children involved but today, thankfully, the definition of family is wide and takes into account de facto, and non-married couples as well. Same sex couples also get due legal compliance. Of many relationships, one that is seen widely today is de facto relationships.
De facto relationship laws in Australia and the importance of prenuptial agreements in it
A de facto couple is one who is above 18 years of age and is living together without getting legally married and are leading a domestic life as any married couple. But the relationship gets de facto status in Australia only if the couple has been living together for two years. This law applies to same sex couples as well. After the de facto relationships act, the people in such a relationship will get access to all legal rights that married couple has access to. For example, the prenuptial agreement that hitherto was considered only for a wedding.
The prenuptial agreement for de facto couples is known as Binding Financial Agreement or BFA. It is similar to a prenuptial agreement done prior to a wedding and it is good for de facto couples so that they can decide on financial matters if the relationship comes to an end. It means in terms of separation, the rights of both the parties are protected and no one suffers. Any couple, be it same sex couples or heterosexual couples, can make a BFA before entering a de facto relationship. It is best to take the guidance of a lawyer who can prepare a law abiding and law approving document for you. This is ideally the prenuptial agreements australia de facto signed by the couple. So, what are you still waiting for? Talk to a lawyer now.