Binding Financial Agreements Including Pre-Nuptial Agreements.
The Family Law Act (Cth) 1975 allows married and de facto couples (including same-sex couples) to enter into legally binding Financial Agreements with respect to the division of their property.
Financial Agreements can be made before, during or after a marriage or de facto relationship.
You should consider making a Financial Agreement if you:
- wish to avoid costly court proceedings;
- are marrying later in life;
- have been married previously;
- have children from a previous relationship;
- have suffered financial hardship as a result of the breakdown of a past relationship;
- are in a blended family or about to become part of a blended family; or
- if you have significant assets prior to entering into a relationship.
A Financial Agreement can specify how, in the event of the breakdown of the relationship, the property of either or both of the parties to the relationship is to be divided.
It can also determine spousal maintenance in the event of separation.
For a Financial Agreement to be legally binding, both parties must have signed the Agreement and received independent legal advice.
Cohabitation Agreements and pre-nuptial agreements and are commonly signed by parties who are living together and not intending to be married or have not yet married.
Our Family Law solicitors can negotiate and draft these Agreements for you and provide the advice required by the legislation.
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