Studies in Britain and Australia show that Living Apart Together (LAT) is a significant modern-day relationship form, accounting for 9–10% of the single adult population. For many people in LAT relationships, how their property will be divided at the end of a relationship is an important consideration; one which they would like to influence. While the general perception of those LAT is that they are free from the reach of family law when it comes to dividing assets at the end of their relationship, the situation is less clear cut from a legal position. There is a complex mix of factors to be considered when deciding whether a LAT relationship has crossed the line to become a de facto relationship with potential financial consequences. This article draws on case studies from two Australian LAT studies to provide a timely discussion of the potential financial implications for those LAT.