Nobody goes into marriage – or business – expecting it to end badly. However, if the Family Court determines your ex-partner had a material impact on growing your business you could be facing a large payout or worse. Divorce can have damaging effects for small business owners, especially if the separation comes unexpectedly some years […]
The idea of a party entering into an agreement to protect their financial wealth upon marriage is nothing new. On 19 July 1763, Captain Arthur Phillip (and later first Governor of the New South Wales) married Margaret Tybott, a wealthy widow of merchant John Denison who was 17 years his senior. Margaret insisted he sign […]
In Western Australia, a “prenup” is referred to as a Binding Financial Agreement (BFA). Many couples discuss the option of entering into a prenuptial agreement prior to getting married. One question we often get is whether the mutual benefits of entering into a prenup outweighs the risks associated if you decide to separate. Pros of […]
