Protect Your Assets with a Family Lawyer in Brisbane

Every other person going through separation struggles with the question, ‘How do I protect my assets from my partner?’ Family Lawyer in Brisbane at ALF Lawyers can answer all your questions about separation and agreements required in the process.

You have to think about protecting your assets from a new partner and in the process of doing so, you may need a family lawyer in Brisbane to help you draft a financial agreement. Also, you may choose to become familiar with the family law system and know how you can structure your property and financial assets. Accordingly, you can plan to start your relationship with a new companion and minimise the economic risks.

When can a new partner appeal a family law property settlement?

You must know when your new partner can apply for a property settlement. Because you have to protect your assets before your partner seeks property settlement.

A family lawyer helps you understand some myths that say, ‘you must be staying with your partner for two years to consider it as a real de facto relationship’. Hence, our family lawyer has listed situations when your partner can ask for property settlement. Your companion can apply for a property settlement if,

• You have kids
• Have registered your relationship
• One of you has made significant contributions to daily errands or finances

Therefore, your partner can apply for a property settlement even if you haven’t stayed together for two years and still any of the above circumstances apply to you and your mate.

Our Family Lawyer can assist you in knowing the alternatives to protect your financial assets while being in a de facto relationship.

You can do everything related to financial matters like arrange trust setup, move money, invest or hide money overseas. Yet, property settlement includes all your property. You may think otherwise but courts can have the measure of trust setups. Thus, hiding your assets is practically not an option that our family lawyer in Brisbane would suggest.

Besides, saving or investing your money in someone’s name has unexpected risks.

The fact that a family lawyer suggests is to protect a relationship to avoid the need to save your assets with a binding financial agreement.

Option 1: A Binding Agreement

You do not only need a financial agreement while getting married but at any point in your relationship or after you end your relationship.

Asking your family lawyer to draft a binding financial agreement indicates your consent to divide your financial assets and liabilities when you decide to split. Hence, if your agreement covers your existing financial belongings while separating, your new partner can not claim those unless the court decides to set them in accordance.

Option 2: Without a Binding Agreement

However, it is feasible to protect your assets differently. In the situation when you do not have any financial agreements set in place, the court will regard the following aspects to determine whether or not your new partner can claim adjustment on the property.

● Do you have any joint bank accounts?

● Do you keep your finances independent?

● Do you co-own any assets?

● Has your partner stayed with you in a property you possessed? Did they pay and contribute their finances to run daily errands? Did they not contribute to monthly expenses?

● Do you talk about your financial matters with each other?

● Did you make any future monetary plans jointly?

● Did you nominate each other as beneficiaries in a superannuation fund?

Hence, it is always good to have an intention to share life and not financial belongings. Although we recommend preventive measures, it is always a solid option to connect with a family lawyer in Brisbane at ALF lawyers to draft a binding financial agreement.

Resource URL: https://wiredgeneral.wordpress.com/2022/04/12/protect-your-assets-with-a-family-lawyer-in-brisbane/