In Australia, prenuptial agreements are called “Binding Financial Agreements.”
Prenuptial Agreements can be entered into before marriage or entering a defacto relationship, during a marriage or defacto relationship, or used as an alternative to court orders following the breakdown of a marriage or defacto relationship.
A Binding Financial Agreement is a complex legal document. It takes away the right of each party to apply to the court for property settlement orders after separation. That is a serious matter that requires careful consideration by both parties.
Binding Financial Agreements are strictly regulated, there are many procedural matters which must be adhered to or the agreement may be declared to be invalid.
Each party must obtain independent legal advice and their lawyer must provide them with a certificate confirming that advice has been given before the agreement can be executed.
Full disclosure of each party’s financial circumstances, assets and liabilities must also be provided.
DFL can assist you in drafting and providing advice on Binding Financial Agreements. Please contact us to arrange a free consultation.