Legal Advice

Binding financial agreements

The term 'Binding Financial Agreement' now replaces what was once commonly referred to as a 'pre-nuptial' or 'cohabitation agreement'. It is a financial agreement made either before, during, or after marriage.

In 2000 the Family Law Act introduced provisions dealing specifically with Financial Agreements to enable married, de facto, and separated couples to deal with issues of property settlement and spousal maintenance outside of the Family Court's jurisdiction.

This allows the parties to 'opt out' of the Family Court's jurisdiction and privately determine the division of their assets and liabilities where possible. Binding Financial Agreements are most commonly used during or prior to marriage for older couples not planning on starting a new family, who want to protect their existing assets for children of prior relationships.

Whether you are getting married or in an existing de facto relationship, we can help you create a Binding Financial Agreement that protects you and your family should the relationship come to an end.