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The number of marriages last year was down by 20% compared to the year before. Since the 1970s the number of eligible people getting married has been declining from 45.5 out of 1000 down to 8.5 out of 1000. This tells me more and more people are choosing to live together in a de facto relationship rather than getting married.
What I often see with de facto couples is that they don’t realise how quickly 3 years goes by. Often people don’t realise it’s already been 3 years when they start thinking about protecting their assets. By then the family home is now relationship property and divided equally between the couple if they separate, even if the contributions to the home were unequal.
While it’s not too late to protect your assets after 3 years with a Contracting Out Agreement (Prenup) your partner may refuse to sign it. That’s why I recommend getting a Prenup as soon as you enter into a new relationship, even before you start living together.
Feel free to contact me, Hayley Boud on 021 077 7785 for a free 15 minute phone call.
Hayley Boud
Your Caring Relationship Property and Estates Lawyer, specialist in Contracting Out Agreements (Pre-Nups)
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