Relationship Agreements

For those entering second marriages and de facto relationships later in life it is important to consider how these relationships will legally effect your estate. The Property Relationships Act states how assets both parties bring to the relationship will be dealt with. However there are options for those not wishing to be bound by this legislation.

Either party can enter into a legal agreement which protects individually owned assets from being considered jointly owned after a period of time. This may be called a Relationship Agreement, or a Pre-nuptial Agreement, or a Contracting Out Agreement.

Whatever its name, its purpose is to contract out of the provisions of the Property Relationships Act.

• Real estate you own, either individually or jointly
• Your ability to pass your share of any property jointly purchased with your spouse or de facto to another beneficiary (You should also check your Will (see Reasons to change a Will) to ensure that no claims can be made against your estate by a surviving spouse or de facto).
• Investments
• Home contents
• Vehicles
• Items of jewellery
• Trust benefits

To ensure that this agreement cannot be disputed after your death, we recommend that you discuss this agreement with a lawyer. If you have granted anyone power of attorney for you in relation to either property or care and welfare, you should advise them of this agreement. It should be held with your Will.

The information on this web site is of a general nature only. Readers are advised to establish the applicability of information in relation to specific circumstances and not to rely solely on the information provided here.