The perils of prenuptial financial agreements: Effectiveness and professional negligence

John Wade

Research output: Contribution to journalArticleResearchpeer-review

1 Downloads (Pure)

Abstract

Legal practitioners in Australia who draft financial agreements before (s90B; 90UB) or during a marriage or relationship (s90C; 90UC) have a high risk of exposure to professional negligence. Vigilance, protocols and expertise only reduce the risk; it is never eliminated. That is why a number of experienced and smart family lawyers in Australia will never draft pre-nuptial (s90B; 90UB) or 'during relationship' agreements. They send their clients to more naive or risk-taking lawyers. In each case, the ineffective agreements and the potential for professional negligence lie dormant and hidden like land mines. Such agreements may explode at any time over, say, the 30 years which follow signing - either upon the separation of the signatory spouses or the death of one, or a dramatic change of circumstances for better or worse of one of the parties.
Original languageEnglish
Pages (from-to)24-29
Number of pages6
JournalAustralian Family Lawyer
Volume22
Issue number3
Publication statusPublished - 2012

Fingerprint

lawyer
spouse
expertise
marriage
death
time

Cite this

@article{c8e66c84aef94196bd71bc98ff16a1a5,
title = "The perils of prenuptial financial agreements: Effectiveness and professional negligence",
abstract = "Legal practitioners in Australia who draft financial agreements before (s90B; 90UB) or during a marriage or relationship (s90C; 90UC) have a high risk of exposure to professional negligence. Vigilance, protocols and expertise only reduce the risk; it is never eliminated. That is why a number of experienced and smart family lawyers in Australia will never draft pre-nuptial (s90B; 90UB) or 'during relationship' agreements. They send their clients to more naive or risk-taking lawyers. In each case, the ineffective agreements and the potential for professional negligence lie dormant and hidden like land mines. Such agreements may explode at any time over, say, the 30 years which follow signing - either upon the separation of the signatory spouses or the death of one, or a dramatic change of circumstances for better or worse of one of the parties.",
author = "John Wade",
note = "Paper updated in 2017.{\circledC} Copyright John Wade, 2012",
year = "2012",
language = "English",
volume = "22",
pages = "24--29",
journal = "Australian Family Lawyer",
issn = "0817-6531",
number = "3",

}

The perils of prenuptial financial agreements : Effectiveness and professional negligence. / Wade, John.

In: Australian Family Lawyer, Vol. 22, No. 3, 2012, p. 24-29.

Research output: Contribution to journalArticleResearchpeer-review

TY - JOUR

T1 - The perils of prenuptial financial agreements

T2 - Effectiveness and professional negligence

AU - Wade, John

N1 - Paper updated in 2017.© Copyright John Wade, 2012

PY - 2012

Y1 - 2012

N2 - Legal practitioners in Australia who draft financial agreements before (s90B; 90UB) or during a marriage or relationship (s90C; 90UC) have a high risk of exposure to professional negligence. Vigilance, protocols and expertise only reduce the risk; it is never eliminated. That is why a number of experienced and smart family lawyers in Australia will never draft pre-nuptial (s90B; 90UB) or 'during relationship' agreements. They send their clients to more naive or risk-taking lawyers. In each case, the ineffective agreements and the potential for professional negligence lie dormant and hidden like land mines. Such agreements may explode at any time over, say, the 30 years which follow signing - either upon the separation of the signatory spouses or the death of one, or a dramatic change of circumstances for better or worse of one of the parties.

AB - Legal practitioners in Australia who draft financial agreements before (s90B; 90UB) or during a marriage or relationship (s90C; 90UC) have a high risk of exposure to professional negligence. Vigilance, protocols and expertise only reduce the risk; it is never eliminated. That is why a number of experienced and smart family lawyers in Australia will never draft pre-nuptial (s90B; 90UB) or 'during relationship' agreements. They send their clients to more naive or risk-taking lawyers. In each case, the ineffective agreements and the potential for professional negligence lie dormant and hidden like land mines. Such agreements may explode at any time over, say, the 30 years which follow signing - either upon the separation of the signatory spouses or the death of one, or a dramatic change of circumstances for better or worse of one of the parties.

M3 - Article

VL - 22

SP - 24

EP - 29

JO - Australian Family Lawyer

JF - Australian Family Lawyer

SN - 0817-6531

IS - 3

ER -