How to protect an inheritance or gift
It is common for people intent on protecting family businesses to look at taking out a BFA when an inheritance is expected.
One case Vanessa Mathews worked on involved three sisters who were going to inherit substantial wealth built up by their parents. She says the women were all in happy marriages, but felt strongly that the fortune should be preserved so it would always flow down the intergenerational line on the maternal side. Any future grandchildren who were to be married or were in a relationship would also be asked to enter into a BFA or prenup, even if it was to serve only that one purpose.
A BFA can be tailored to a single purpose, as in this case, or it might be, for example, if someone is about to enter into a second or third marriage and has already built up some wealth from prior relationships. Both partners can agree to draw a line in the sand with assets they own individually and assets they will acquire during the relationship.
In another case, a woman who had made her substantial wealth through a business and was due a large inheritance had a prenup drawn up before moving in with her de-facto partner. However, on obtaining legal advice, the partner was told he would be disadvantaged if he signed the agreement, and was advised not to do it. Deciding not to push the issue and endanger the relationship, the woman decided to work on another structure to quarantine the inheritance.