Signing a financial agreement is hard, but you know what’s harder? Having to deal with losing important assets and being stuck in costly court battles at the same time you are dealing with the emotional stress of a relationship breakdown.
Financial agreements are a difficult topic for most people because they’re combining two very touchy subjects – money and the potential breakdown of your relationship.
We all understand the benefit of other types of insurance, like home and car insurance. However, financial agreements are arguably the most important type of insurance you can have because they protect all the assets you own now, as well as the ones you might own during your relationship.
A financial agreement is essentially a contract between you and your partner which outlines how all of your finances will be dealt with in the event of a separation. They typically cover things like how real estate and superannuation are divided and whether any spousal maintenance will be paid.
Another advantage of financial agreements is that they allow you to agree to what’s fair at a time when your relationship is really healthy. Leaving this discussion until after a potential breakdown of the relationship is when it becomes a much more difficult and expensive process.
We’d certainly suggest you consider talking to one of DSL Law’s specialists about protecting your financial future with a financial agreement.
1300 DSL LAW (1300 375 529)