Financial agreements / prenups
Sometimes the best time to work out how assets will be split in the event of the breakdown of a relationship, is before it breaks down. Whilst on the one hand, having a discussion that contemplates the end of your relationship is a bit “awkward”, on the other, there is nothing wrong with planning your financial future, while you are still getting along.
4 steps to a Prenup/Financial Agreement
Free Initial Consultation
We provide a free 1 hour initial consultation to discuss your needs and how we can assist you.
Advantages and disadvantages
We will advise you of any advantages and/or disadvantages of entering into the agreement – We will let you know whether you should proceed with the agreement or not. If you decide to proceed, we will then assist you negotiate the terms of your agreement.
Negotiate the terms of your agreement
We can assist you negotiating through written letters and/or mediation to reach a financial agreement that works for you. If you have already reached an agreement, that’s great, you can skip this step.
The outcome
If an agreement is reached
We will formalise your Prenup with a Binding Financial Agreement. Your spouse must have Independant legal representation to formalise the agreement.
If you are yet to negotiate an agreement
If an agreement cant be reached, if you and your spouse separate in the future, your assets and financial resources will be distributed pursuant the Family Law Act. See Property Settlements for more information.
Frequently Asked Questions
What is commonly referred to as a “Prenup”, is a Binding Financial Agreement pursuant to the Family Law Act of Australia. A Binding Financial Agreement or “Prenup” can provide some certainty about what will happen with the assets and financial recourses, in the event of the breakdown of your relationship.
A Binding Financial Agreement can only be set aside in limited circumstances and so careful consideration must be given to any advantages and disadvantages, before entering into one.
If you are uncertain about whether a Binding Financial Agreement or “Prenup” is for you, get in touch with one of our family law experts today.
We pride ourselves on crafting bespoke strategies tailored to your individual circumstances. Whether you’re safeguarding a little or a lot, our goal remains unwavering: securing your financial future with precision and care.
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