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Pronup or prenup?

Pronup or prenup?
27Aug2019

It’s not a surprising fact that money is the number one cause of divorce in Australia. Take the time to talk openly about your current financial situation and your future plans. Introducing; pronups!

It’s not a surprising fact that money is the number one cause of divorce in Australia. Arguments about who spent what or who didn’t contribute to the joint savings account tend to drag out longer than fights about kids, in-laws or other common issues. So, when things are starting to get serious with your other half, take the time to talk openly about your current financial situation and your future plans. Introducing; pronups!


What is a pronup?

Unlike a prenup with is a binding financial agreement designed to protect your assets in the case of a relationship breakup, a pronup has a much more positive approach to finance between couples. A pronup is designed to build a better financial future for you and your partner. Whether you’re early on in your relationship or about to tie the knot, sitting down with a financial adviser to design a pronup can give you both clear steps required to help you achieve your future goals, whether that be moving in together or starting a family.


What is in a pronup?

What does your current financial status look like? What about your partners? How will you join your finances to ensure they are working together to achieve your goals? Your financial adviser will talk through all of this and more when you work on your pronup. Once all the money is laid out on the table, your financial planner will put together a strategy for financial wellbeing. Depending on what stage in your relationship you’re at, there could be a focus on saving for your first home, paying for your children’s education, or investing for a comfortable retirement.

Updating your pronup as you progress through life

As you progress through the stages of your relationship, from moving in together, to buying your first house, to starting a family, it’s important to check in with your financial adviser to update your pronup. Additionally, if your income changes, it’s important to consider how this affects your pronup. Your financial advisor will be able to ensure your money is working for you throughout your life.
 
So, rather than sweeping your money issues under the carpet, speak to our financial advisers to start building a better financial future in your relationship, or pay the price further down the track.

BUILD YOUR PRONUP
 

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