Financial Agreements (Binding Financial Agreements, Pre-Nuptial Agreements) are documents by which parties can decide beforehand what is going to happen in respect of property settlement and maintenance, in the event that their marriage or de facto relationship breaks down in the future. In this way the parties can effectively exclude the Family Courts from any involvement in respect of their separation.
It is equally possible to enter into such a Financial Agreement in the middle of a marriage or de facto relationship or at the end of it following a separation.
Each party must see their own lawyer who signs a Certificate that they have advised their client as to effects, advantages and disadvantages of the Agreement.
Financial Agreements are not for everyone and must be carefully drawn and implemented by an experienced Family Lawyer. They can be challenged in courts in certain circumstances. But if properly drawn and implemented, they do provide a strong degree of protection to parties and greatly reduce the possibility of a major dispute following a separation or that the Family Courts be involved in the separation.
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