Binding Financial Agreements Lawyer In Melbourne & Victoria
Protect Your Interests With A Binding Financial Agreement
Are you considering a de facto relationship or marriage? Or maybe you are already in a relationship, or even separating? In any of these situations, a Binding Financial Agreement can be your best protection when it comes to property division and spousal maintenance.
What is a Binding Financial Agreement?
Also often referred to as a pre-nuptial agreement, a Binding Financial Agreement is a legally enforceable agreement between de facto partners or spouses that can agree on property division and spousal maintenance.
When can Binding Financial Agreements be made?
Binding financial agreements can be made:
- When you are contemplating a de facto relationship or marriage (commonly known as a prenup or prenuptial agreement)
- While you are in a de facto relationship or marriage,
- Or when you separate.
Why is it important to have a Binding Financial Agreement?
A binding financial agreement is important because it can protect your interests in situations such as property division and spousal maintenance.
What are the risks of informal agreements?
Informal agreements made between you and the other party may not protect you in the future. There is a risk that a party may later apply to a court to reopen property and financial issues.
Your Binding Financial Agreements Lawyer
If you want to ensure that your interests are protected, Shamac Lawyers, experienced Binding Financial Agreement lawyers can guide you through the process of creating a legally enforceable agreement, or give you advice on a Binding Financial Agreement that has been prepared by another party.
The Importance of a Well-Thought-Out
Binding Financial Agreement
To be valid, a Binding Financial Agreement must meet strict requirements set out in the Family Law Act 1975 (Cth) and relevant case law. These requirements include obtaining legal advice that has been signed off by a lawyer.
We highly recommend creating a well-thought-out Binding Financial Agreement, especially in situations where one party brings more assets to the relationship, there are children from previous marriages, or the couple is older.
Whether you’re in a de facto relationship or marriage, a Binding Financial Agreement can be made before, during, or after the relationship. Superannuation can also be included in the agreement.
Obtaining Legal Advice and Drafting
An Enforceable Agreement
While you can reach an agreement with your partner on your own or through mediation, having a Binding Financial Agreement that has been drafted by a qualified lawyer can offer greater protection. Informal agreements made between you and your partner may not safeguard you in the long run, as there is a risk that one party may seek to reopen financial and property matters in court.
In summary:
- What is a Binding Financial Agreement? A legally enforceable agreement between de facto partners or spouses that can address property division and spousal maintenance.
- When can Binding Financial Agreements be made? Before, during, or after a de facto relationship or marriage.
- Why is it important to have a Binding Financial Agreement? To protect your interests in property division and spousal maintenance matters.
- What are the risks of informal agreements? They may not provide adequate protection and could be reopened in court.