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A Financial Agreement deals with what happens with your assets and liabilities and can be slightly different depending on when you enter into the Agreement, that is:
- Before marriage (commonly referred to as a pre-nup);
- During marriage but before separation;
- During marriage but after separation; or
- After divorce.
A Financial Agreement allows you to agree to the division of your property in a way that meets your own individual needs.
If you are considering a Financial Agreement it is vital that you obtain legal advice as one of the requirements for the Agreement to be binding is that each party has received independent legal advice. It is also important that the Agreement complies with the Family Law Act as the Court can set aside an Agreement on a number of grounds.
If you want to end a Financial Agreement you need to enter into a Termination Agreement.
Contact us to arrange an appointment with an accredited family law specialist or an experienced solicitor who can provide legal advice on all Financial Agreements including what to include in a Financial Agreement, and the circumstances where the Agreement could be set aside.