Financial and Co-habitation Arrangements
Prenuptials & financially binding agreements.
The Family Law Act caters for the financial and cohabitation arrangements of differing relationships in Australia today. The term relationship or partner refers to married couples, same sex relationships & de facto relationships.
It is more important than ever that couples establish clear guidelines on the distribution of their assets & finances should they separate.
Prenuptials or Binding Financial Agreements formally set out the division of the property upon separation. The agreements are legally binding and enforceable by the courts and they can be entered either;
- Prior to marriage or the parties commencing a de facto relationship
- During the marriage or de facto relationship
- Following separation
It is a legal requirement that each party of the financial agreement obtain independent legal advice in order for any Financial Agreement to be legally recognised.
If you are considering a long term relationship commitment, seek legal advice so you are aware of your legal rights and the implications this may have on you.
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Learn more with our useful articles, resources and our Frequently Asked Questions section.