Whilst we all knew that a “Pre-Nup” or Binding Financial Agreement between Mariah Carey and James Packer was inevitable, the details of it had remained under cloak and dagger. Until now. In the wake of Mariah and James’ recent split, some of the alleged contents of the Pre Nup have been leaked.
The purpose of such documents are to enable parties to reach private arrangements about their financial dealings during a relationship and after its end and their private nature enable the provisions to be somewhat out of the box (as they do not require Judicial approval).
The leaked details highlight the reality of the excess of a relationship between a billionaire and multi-millionaire.
For most ordinary Australians a Binding Financial Agreement is a method by which they can protect any amount of pre-relationship assets such as a home already owned or a large amount of superannuation accumulated prior to the relationship. They are also a method of documenting an agreement to distribute assets post separation in a method which is private and enforceable (provided legislative requirements are met).
At Marino Law our Family Lawyers have substantial experience in the drafting of Binding Financial Agreements relevant to any stage of a relationship and can do so in a cost effective and timely manner. Contact us if you have any family law matters including the need for a Binding Financial Agreement.