Court decision highlights financial risks of de facto relationships
Lawyers advise couples to be aware of the risks and reach agreements about who owns what before a bust-up.
A recent NSW Supreme Court decision highlights the need for de facto couples to avoid “financial catastrophes” by making hard decisions at the start about how to divide any jointly owned property if the relationship breaks down.
The number of de facto relationships grew three-fold in the 30 years to 2016 – the latest data available – and accounts for 18 per cent of all couples, says Anne Hollonds, director of the Australian Institute of Family Studies.
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