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Family Law

Pre-Nuptial Agreements and Financial Agreements in Australia

Are you getting married in the not too distant future? Although it may seem a bit somber to think about just before your big day, the fact is that 1 in every 3 marriages end in divorce, so it’s always a good idea to consider what might eventuate if the worst was to happen.

We ensure your pre-nuptial agreement prevents disputes and adds complete certainty.

Financial agreements (technically known as “Binding Financial Agreements”, or “BFAs”), are agreements that couples enter into to specify how their property will be divided after breakdown of a relationship. Agreements entered into before or during the relationship are commonly called “Pre-Nuptial Agreements”, or “Pre-Nups”.

BFA’s can be entered into by same-sex, de facto, or married couples, before, during or after the breakdown of a relationship.

For those people who have been in unsuccessful relationships before, or who perhaps have significant wealth prior to entering into a marriage, or who simply desire the certainty of knowing they will not end up in Court fighting over the division of assets if a relationship does not work out, well drafted pre-nups by lawyers can be very useful and welcomed legal documents.

  • A BFA or pre-nuptial agreement is a legally binding agreement made between two people setting out the division of property in the event of marriage breakdown, and other financial issues which might apply either during the marriage, or separation.

  • That decision is entirely up to you. Some situations where it might be considered include one party bringing significantly more assets into the marriage than the other party or a mutual decision by both parties to avoid courtroom proceedings, should a divorce occur.

  • Yes you can. Certain sections of the Family Law Act 1975 allow provisions for people who are currently married to enter into a legally binding financial agreement which concerns their assets. You can even get one after you’re divorced as a way of dividing up assets without going to court.

If you have any further questions or would like to engage a lawyer to assist you in entering into a Binding Financial Agreement, please don’t hesitate to contact us.