"When you buy a new home, you don't expect it to burn down. But you know this is a risk. So you take out insurance, to protect yourself - just in case. Similarly, when you enter into a relationship, you intend it to be lasting. But we know that, despite everyone's best intentions, many relationships do not last. A separation may occur because of something beyond your control. An increasing number of couples are taking out "insurance" in the form of a Financial Agreement, to protect themselves – just in case."
A Financial Agreement is a private contract under the Family Law Act, which provides how assets, liabilities and superannuation will be divided if you separate and whether any maintenance will be paid by you or your partner.
Many people refer to Financial Agreements as "pre-nups" or "pre-nuptial agreements" or sometimes "Binding Financial Agreements".
Financial Agreements can be prepared before you marry or start living with your partner. They can also be done while you and your partner are already together.
If you plan to marry or start living with your partner, it might be helpful for you and your partner to consider how your property would be divided if you separate in the future. We can help you in your discussions with your partner and assist you to reach an agreement about these issues. We will give you detailed advice so that you fully understand the legal implications of an agreement.
Once you reach an agreement we can formalise it as a Financial Agreement. There are strict requirements for Financial Agreements to be legally binding. We are very experienced in negotiating and preparing Financial Agreements to the highest standard. You benefit from our experience by getting the best protection.
More and more people are using Financial Agreements to protect their assets and wealth and to avoid costly and stressful disputes if they separate in the future.