Financial Agreements – pre-nups?

Question:

Can my partner and I draft an agreement providing what we are going to do with our individual assets and assets we purchase together if we separate without a lawyer being involved?

Answer:

No. In Australia the Family Law Act provides that a financial agreement between parties to a marriage or a de facto relationship (or a couple who are going to marry or enter a de facto relationship – often referred to as ‘pre-nuptial agreements’) or a couple who have ended their relationship) must comply with certain sections of the Family Law Act for the agreement to be enforceable.

Importantly, the Family Law Act provides that the agreement is not valid or enforceable if an independent lawyer has not provided independent legal advice to each party. The lawyer cannot act for both parties. Accordingly, in Australia you cannot enter into a binding financial agreement without some involvement of a lawyer.

Kathy Chase of Pittwater Family Lawyers has drafted financial agreements and has acted for clients entering into or executing financial agreements.  Kathy has also acted for clients who are contesting the validity of a financial agreement and clients who are asserting that the financial agreement is valid and enforceable under the Family Law Act.

Kathy will be able to provide advice to clients who are seeking to enter into a financial agreement with their partner or are disputing or enforcing a financial agreement.

You can contact Kathy on (O2) 9918 6565 or 0418 285307 or send her an email at: info pittwaterfamilylawyers.com or pittwaterfamilylawyers@ gmail.comhttp://www.pittwaterfamilylawyers.com.au