Binding Financial Agreements

Once you have made the difficult decision to separate or divorce, you and your former partner will need to divide your assets, including your home, any vehicles and artworks, as well as your liabilities.

Financial agreements can be entered into prior to or during a relationship, or after a relationship breakdown or divorce. They are, essentially, contracts that set out property and ancillary financial matters are to be dealt with.

Under the Family Law Act 1975, certain requirements must be met for a financial agreement to be legally binding. We can assist with the preparation and execution of a financial agreement, including the provision of independent legal advice, or the enforcement of an agreement.

These Agreements can deal with:-

• Pre-existing assets;
• Inheritances;
• Gifts;
• Financial arrangements during the relationship;
• Financial support in the event of a separation; and
• Division of assets in the event of a separation.

These Agreements act as a form of insurance and can provide significant certainty, security and peace of mind and prevent disputes from arising.

We can assist by advising you about the options and preparing and finalising an appropriate Agreement and reviewing Agreements prepared by other lawyers.