Also referred to as “pre-nups”, binding financial agreements are created between parties of a relationship or marriage to legally protect and allocate assets if the event the marriage ceases. Whilst many people believe planning for divorce before the marriage begins is controversial, a binding financial agreement is prudent estate planning, similar to preparing a will or enduring power of attorney.
To create a binding financial agreement, several requirements must be met in accordance with the Family Law Act, including:
If these requirements are not met, the agreement can be set aside. In addition to failing formal requirements, the agreement may also be set aside in circumstances where:
To ensure your binding financial agreement will hold up in court, speak to one of our Accredited Family Law Specialists today to discuss what options are available.
For more information or If you need any help please contact the Brisbane Family Lawyer team today for a FREE, no-obligation 20-minute consultation.
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