The ABC spoke with two family law experts to discuss de facto relationships, debts and how to protect yourself.
Yesterday, the ABC brought you Millie's* story — a woman who was forced to sell her home of nearly 30 years after a family court ruled her ex-de facto partner's tax debt was a shared liability.
When it comes to debts one partner may not be aware of, "it's all about acting in good faith", she added. It's Australia's version of a prenup — a contract that a couple enters into that outlines how their finances and property will be divided if their relationship ends.Lisa Eriksson signed a binding financial agreement after moving in with her partner. She sees it as an "insurance policy".
While Ms Kilkeary said a well-drafted and up-to-date BFA "is about as watertight as you can get", if it's not drafted properly or if circumstances have changed, "that can make that agreement null and void".Ms Kilkeary said it's important to have a good understanding of your own and your partner's finances, before and while you're in a de facto relationship.
Queensland Family Law Finance Experts Legal De Facto Relationship Binding Financial Agreement Debt
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