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Financial Agreements

Financial agreements are relevant to both married and de facto (including same sex) couples. However, in order to be binding some strict rules need to be followed, so legal advice may be required

 

Married Couples

A pre-nuptial agreement is a contract between spouses. It usually covers what is agreed will happen financially during the marriage and upon separation.

While these agreements are often referred to as pre-nuptial agreements, this can be misleading. They can be made before a marriage, during the marriage or even after a marriage breaks down. These agreements are known as financial agreements and in order to be binding some strict rules need to be followed.

 

 

De Facto Couples

As of 1 March 2009, financial agreements between de facto couples are dealt with by the Family Law Act 1975. De facto couples include same sex couples.

De facto couples can enter into agreements at the start of and during their relationship and in the event of the breakdown of their relationship. The agreements are referred to as financial agreements and in order to be binding some strict rules need to be followed.

From 1 March 2009, Domestic Relationships Agreements and Termination Agreements entered into pursuant to the Property (Relationships) Act 1984 before 1 March 2009 generally should be recognised and enforced having regard to the Family Law Act 1975.

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