All Topics / Help Needed! / Asset Protection

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  • Profile photo of BMW2008BMW2008
    Participant
    @bmw2008
    Join Date: 2008
    Post Count: 3
    September 9, 2008 - 4:28 am

    Hi Everyone

    I am a single parent. How do I protect my asset from the future relationship?

    Thanks!

    Profile photo of gibbo1gibbo1
    Participant
    @gibbo1
    Join Date: 2008
    Post Count: 152
    September 9, 2008 - 5:02 am

    If you already own the assets the cheapest way would be to do a pre nup.  Most lawyers can do this for yourself and your partner, otherwise you can buy some forms off the internet and do it yourself.  Laws in each state vary, I think from memory here in WA once a couple have lived to together for 2 years then there assets are dealt with as 1 (unless pre nup is in place) before the 2 year mark for couples living together then its viewed at who owns the asset. This is then different again is the couple is married.

    Profile photo of BMW2008BMW2008
    Participant
    @bmw2008
    Join Date: 2008
    Post Count: 3
    September 9, 2008 - 8:21 am
    gibbo1 wrote:
    If you already own the assets the cheapest way would be to do a pre nup.  Most lawyers can do this for yourself and your partner, otherwise you can buy some forms off the internet and do it yourself.  Laws in each state vary, I think from memory here in WA once a couple have lived to together for 2 years then there assets are dealt with as 1 (unless pre nup is in place) before the 2 year mark for couples living together then its viewed at who owns the asset. This is then different again is the couple is married.

    Thank you for you reply.
    How does pre nup work in VIC?  Said we signed a pre nup on 01/09/08, does it mean that other party is entitle 50% share of capital growth after 01/09/08. 

    What about I am planing to get more asset in the future? and what is the best way to protect my new asset.
    Regards

    Profile photo of ummesterummester
    Member
    @ummester
    Join Date: 2008
    Post Count: 510
    September 9, 2008 - 8:59 am
    sunshine168 wrote:
    Hi Everyone

    I am a single parent. How do I protect my asset from the future relationship?

    Thanks!

    If assets more important, why have future relationship?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    September 9, 2008 - 11:44 am

    The only way to protect yourself would be to avoid becoming a defacto or marry. Pre-nups can help, but are not 100% tight. Family Court can unravel or look behind trusts, and companies.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 5 posts - 1 through 5 (of 5 total)

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