Binding Financial Agreements
Our team specialises in the preparation of binding financial agreements, which can be made prior to marriage or commencing cohabitation (often referred to us pre-nuptial agreements) or following separation or divorce.
Binding financial agreements are available to both married couples and couples in de facto relationships (including same sex relationships), and are now specifically recognised under the Family Law Act as being legally binding.
Couples can use these types of agreements to regulate and/or resolve how their finances will be managed during, or following the breakdown of, their relationship.
In order to be legally binding, you must have legal advice at the time of signing a Financial Agreement, and your lawyer must sign a certificate confirming that such advice has been given.
Binding financial agreements need to be carefully considered and worded to ensure that they take into account any structural implications (eg family trusts, companies, self-managed super funds) of the proposed settlement, as well as tax implications and any other consequential matters, such as refinancing obligations.