Property & Asset Division Lawyers
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When couples separate or divorce, the financial impact can often be profound. Financial agreements allow married or de facto couples to make decisions about their property and assets. This can occur before or during a relationship, or after the relationship breaks down. These agreements can make things easier when it comes time to divide assets and money.
As compassionate family law experts, we will work with you to make sure that your agreement doesn’t unfairly benefit one party. We can help you to create a legally binding agreement, which is made in line with the Family Law Act (1975).
Similar to pre-nuptial agreements, financial agreements are mutually agreed to documents that cover end-of-relationship decisions about:
In the best case scenario, couples never need to use these agreements, but they can lessen your stress in the case of a separation and help avoid the need to go to court. These agreements are not always binding under the law though, and a court can determine whether they are enforceable in the case of disputes.
Frequently Asked Questions
why is Legal Advice important in creating financial agreements?
For financial agreements to be legally binding, independent legal advice from a family lawyer is crucial. At Bartels we can make sure that stringent legal requirements are met and that your agreement is created and recorded accurately.
Equally, if you are unsure about a financial agreement you have signed, we can review it to help you determine its legality. We recommend that you always pursue independent legal advice before signing these agreements.
Are financial agreements legally binding and enforceable?
Financial agreements are not Court-ordered and are not automatically enforceable after their creation. A Court can determine their validity based on a range of factors, including meeting legislative requirements. This makes legal advice essential.
How do we ensure the legality of our agreement?
It is essential to consult with a specialist lawyer to ensure the contents of you financial agreement meet legal specifications. As well as this each party must:
- Sign the agreement
- Receive independent legal advice before signing
- Receive independent financial advice before signing
Can we cancel our financial agreement?
Yes. Signing a new agreement can terminate the old one and you can complete to formally terminate an agreement by completing the legally required paperwork.
Are there ways to override the agreement?
The Court can disregard an agreement for a range of reasons. This could be because the agreement is rendered void or unenforceable, it is impractical, there has been a change in circumstances or fraud has been committed.
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