What is a Pre-Nuptial Agreement / Financial Agreement?

A couple can specifically agree to exclude prior owned assets and any inheritances received during their relationship.

A couple may agree to equally share any assets they acquire during their relationship and protect the financial interests of children of a prior relationship in the event of a second separation.

The purpose of a Financial Agreement is to enable a couple to plan the division of their financial assets as well as providing for spousal maintenance in the event of a separation and so avoid the cost and stress of court litigation.

A couple may choose to enter into a Financial Agreement as a defacto couple, or pre marriage, or during marriage or after separation or divorce.

Please note that the essential requirements for a Financial Agreement include such agreement complying with the technical requirements of the Act, Independent legal advice must be given before signing the agreement, Independent advice given must be confirmed in a written statement by each of the lawyers to the party they represent and each lawyer must sign a Statement of Legal Advice to be attached to the agreement.

A Financial Agreement can be set aside by a Court if the agreement does not comply with the strict technical requirements of the Act.