Family Law - Binding Financial Agreements
A Binding Financial Agreement is a written contract between two (or more) people, pursuant to Part VIII or Part VIIIAB of the Family Law Act 1975 (Cth).
A Financial Agreement is an umbrella term used to refer to agreements that parties can enter into before, during or after a relationship, and can be entered into by married couples, de facto couples, couples of the same sex or opposite sex.
A Financial Agreement can often be an appropriate way of finalising the division of your assets and liabilities.
The parties to a Binding Financial Agreement must have received independent legal advice on specific matters before signing the Agreement.
We are able to assist you in preparing and advising on a Binding Financial Agreement, or providing you with the necessary legal advice if you have been presented with a Binding Financial Agreement.
Please note that we do not prepare the following types of Financial Agreements:-
- In contemplation of a marriage (Section 60B).
- In contemplation of a de facto relationship (Section 90UB).
- During a marriage (Section 90C).
- During a de facto relationship (Section 90UC.
However the types of Financial Agreements that we can assist you with are those that apply after the breakdown of a relationship or marriage, or after a divorce.
Please do not hesitate to contact our office if you require more information on Financial Agreements.