Family Forum writes about asset protection using Binding Financial Agreement in relationships…
Question:
I recently purchased a house and mortgage after I broke up with my ex-fiancé (we lived together for 2.5 years). We only separated for 2 months, and now my ex is asking me to reconsider our relationship, he wants to move back in together again and get married. I would like to know how to I protect my asset from him just in case it doesn’t work out. What should I do?
Answer:
It is possible to sign an agreement known as a Binding Financial Agreement, which deals with your previous cohabitation and any future cohabitation.
Such an agreement can specify who is to retain what in the event of a further breakdown in your relationship.
There are a number of financial dangers ahead for you if you decide to resume your relationship. There is also the possibility of your ex-fiancé making a claim on you as a result of your previous cohabitation.
The panel recommends that you seek advice from an experienced family law solicitor as soon as possible.
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