Are you considered De Facto under the law?
The requirements under the law for what constitutes a De Facto relationship varies between the different States and Territories in Australia. Generally, you are considered to be in a De Facto relationship if you have continuously lived (that is, without a period of separation) with your partner for at least two years. This applies to both same sex and opposite sex couples.
Why is this important?
Well, if you have been living with your partner for 18 months and something happened to you - they may be left out in the cold. Generally speaking, under the law your spouse must be provided for in your Will. However, if you aren't considered to be in a 'De Facto' relationship then you aren't what the law considers to be a 'Spouse'. This is potentially problematic where you have assets that you would want your partner to receive and where you don't want your family to be given those assets instead.
In contrast, if you are in a De Facto relationship and you have assets that you wish to protect - we can help you with that too. In most States and Territories in Australia you can set up a Binding Death Benefit Nomination (BDBN) with your Superannuation Fund and you can decide who you wish to leave your Superannuation to. This is important because a BDBN generally does not form part of your Estate and so it isn't open to being challenged! However, they generally must be renewed every three years - with some funds requiring them to be renewed every two years and some offering a non-lapsing option. We are experts in succession law - so let us help you ensure that the legacy that you leave behind actually reflects the wishes that you have!
We offer no cost, no obligation initial appointments so that you can find out where you stand and exactly how much it will cost you to get your Will and/or Estate Plan sorted. We offer fixed fees and payment plans - your wishes, your way.
Don't wait until it's too late, contact us today!
Phone 1800 22 33 90
Or request a free call back on our website