Binding Financial Agreements

Financial Agreements, which are also commonly referred to as Binding Financial Agreements, pre-nuptial agreements or cohabitation agreements, can be made either:

1. Before or during, a marriage or de-facto relationship, to decide in advance how your property will be divided should your relationship end.
2. After, a marriage or de-facto relationship, has broken down. A Financial Agreement can formalise the division of your assets and liabilities.

If you are entering into a new relationship, a Financial Agreement can provide certainty to both you and your partner, about what will happen if the relationship comes to an end.

Whether you are happily married, in a de facto relationship, or recently separated, we can help you to understand how a Financial Agreement works, so you can make an informed decision as to if this is the right option for you.

Making a binding financial agreement after you separate

If you and your partner, have reached an agreement as to the division of your assets, you can formalise same by way of a Financial Agreement. These agreements must meet certain formalities to be valid, and each party must have sought Independent Legal Advice prior to entering into the agreement.

How are financial agreements enforced?

Once the formal requirements are met, the Financial Agreement is legally binding on both you and your partner. The Financial Agreement will not however, be registered in the Court, and you both are expected to comply with the terms of the Financial Agreement as if it were an Order of the Court.

It is important for you to understand the nature and effect of a Financial Agreement, and we can help you make an informed decision about whether a financial agreement is the most appropriate solution for you.

If you need any furthr assistance contact [email protected] or call (07) 5536 1140 for a no-obligation discussion and for expert legal advice.