Financial agreements include prenup agreement’s but also include agreements during and after a marriage. The agreement outlines the arrangements to occur if the relationship ends. A financial agreement deals with the division of property, money and other assets. It can also be a guide for how debt is to be covered by the parties.
A financial agreement may also include the parties’ agreement on child maintenance, child support and spousal maintenance.
Superannuation and claims on the other party’s estate after death are also other elements that can be covered in a financial agreement.
Financial Agreements are used to avoid the need for the parties to go to court in respect of property matters and is a logical step to take in any relationship.
If you are living in Australia, 32% of marriages end in divorce.
Preparing for the worst is not just a smart idea. It is a necessity in today’s day and age. No one own’s a crystal ball to determine what relationships will and won’t last.
Financial agreements are an effective strategy for both defending your assets and dissolving future conflicts.
Click on the links below to find out further information about what your legal options are and what you need to consider when making a binding financial agreement.
Remember if you have a question about a particular issue, you can contact our solicitors for advice by phone or make a website enquiry directly to our office.