Financial agreements, prenuptial agreements - Shire Legal | Miranda | Sutherland Shire

Financial agreements

The Family Law Act provides that married or de facto partners can enter into an agreement about how their assets are to be dealt with in the event that the relationship breaks down. These agreements are known as Binding Financial Agreements ("BFA") - more commonly known as "prenuptial agreements").

You can make a BFA before, during or after a marriage or de facto relationship. These agreements can cover:

financial settlement (including superannuation entitlements) after the breakdown of a marriage or a de facto relationship;
financial support (maintenance) of one spouse by the other after the breakdown of a marriage or a de facto relationship; and/or
any incidental issues.

For a BFA to be legally binding, you must have:

signed the agreement; and
received independent legal and financial advice before signing.

By entering into a BFA, you can prevent any financial or property dispute from ending up in Court.

You can enter into a BFA either before marriage, during your marriage, or even after you're divorced as a way to divide your property without going to Court.

If you have been in unsuccessful relationships before, or if you have significant wealth prior to entering into a marriage, or if you wish to be certain that they you not end up in Court fighting over the division of assets if a relationship does not work out, Binding Financial Agreements can be a very useful and welcomed legal document.

Contact Shire Legal to arrange an appointment with an experienced solicitor to discuss your options.

Suite 9
46-48 Urunga Parade
Miranda NSW 2228 Australia

Phone: 02 9526 3444
Fax: 02 9526 3499

Phone: 02 9526 3444 Fax: 02 9526 3499 Email: info@shirelegal.com.au