A lot of people ask us is it too late for a prenup?
It is never too late to get a prenup drawn up for your relationship.
You may enter into a prenup at any point of your relationship. The official term for ‘prenup’ in Australia is a Binding Financial Agreement (BFA).
Having a BFA in place ensures that you make your own rules about how you would like to split your assets in the event that you decide to separate in the future. Read more about the pros & cons of having a prenup HERE.
You do not need to have the BFA drawn up prior to a relationship. You can see a lawyer at any point to get it done. Be mindful that both people in the relationship will need to receive independent legal advice to ensure that the BFA is valid.
It is not usually recommended that couples sign a BFA immediately before their wedding, as it could later be argued that the BFA was only signed because there was pressure on one side to pull out of the wedding.
In certain circumstances, if you enter into a BFA before having children, and separate and try to rely on the BFA after having children, a court may say that the BFA is no longer binding on both parties.
There are different types of BFA’s depending on the nature of your relationship. It is important that you make an agreement that is suitable to your circumstances. For more info on the different types of BFA’s, please click HERE.