Pre-nup

I was under the impression that ''recovering'' means emotionally/mentally and being able to trust/love another potential partner again as they would if he/she has never been married then divorced etc.

It makes sense that the financially contributing spouse would financially recovers quickly as money can always be made again with time...

 

We actually looked at it before we got married more to protect my wife and the business she runs than me. Advice was basically that they’re not worth much in Australia as the family court will consider them guidance but will make orders based on the circumstances that unfold at the time.

 

Oh. Well why would that be any worse for a man compared to a woman? Wouldn't it be similar across the board?

With the slight caveat being that its much easier to financially recover if your relationship time was spent working and advancing your career instead of being burdened with non-financial responsibilities such as child raising. Double the effect if the post-separation shared parenting arrangements compound the issue.

So family law tries to take that into account when deciding what a fair split of the asset pool is. Shrug, and that's just one of many complicated factors to juggle.

 

that is very true, but time is not something I have unlimited remaining, and im pretty sure its the same for others

 

I had five (?) IPs by the time we got married. My now wife had minimal savings.
I did not consider a pre nup once. If I want to be in a marriage, I want to be all in and not leave a backdoor ajar.
Sure, we've had our bad times and I can't absolutely guarantee that we will last, but I'm definitely still very much happy with my decision.
And even if we were to split up because of differences, she would not suddenly turn into an evil money grabbing *****, she'd still be a fundamentally good person.

 

no this is perfect, i am learning this is how conversation should be, let it take its natural course.

 

good to see people have big heart and not financially protective, i am not so all in i admit. maybe because i fear she is in the relationship for money ?

 

I have some mates who have property and they are still single into their 50s because they are too scared of losing property. Missing out on a lot for their misconceptions involving family law - no kids.

 

Contraceptions will save you money too

 

Its ok @Terry_w always has a place to stay with me if he ever loses it all

 

I try to get spouses with more assets than me so far so good

 

and hence why you'd never do pre-nup ? cos they have more assets than you ?

 

Unfortunately I have yet to find a rich girl.

 

Same same ?

only jk btw ...

 

No, I've got a wife worth about hte same as me.

 

Hubby and I have sort of a verbal pre-nup.

When we came back from our honeymoon we had $135 in the bank. Agreed that if either of us wanted out, we could take our $67.50 and b*gger off! Still applies.

 

What happens in this type of scenario with law and the courts:

Person A has some shares, a property held in his/her name, a property held in TIC with his/her parents, a property held in a discretionary trust & some cash in a SMSF. Person B has no property. They both get married to each other and didn't have kids together. Does the courts rule that all assets held prior to marriage will stay with that person including any capital growth in the shares & property?

Also what generally happens in the same scenario but after marriage they had a kid together?