In Australia there are two ways to end a relationship in a financial sense. These two ways of ending a relationship in a financial sense and no longer having entitlements to each other’s assets and liabilities are either by entering into a contract (Binding Financial Agreement) or by court orders.
In Australia, when you enter into a relationship and that relationship extends for longer than approximately 5 years, each party has an entitlement to each other’s assets and liabilities until at least 2 years after their separation date (in circumstances in de facto relationship), or 1 year after divorce (in circumstances of divorce).
In some circumstances you are allowed to make a claim on your ex-partner/ spouses assets/liabilities provided that there is an appropriate excuse for not making an application earlier, as per S 44(6) of the Family Law Act 1975.
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