Services > Brisbane Family Lawyers > Binding Financial Agreements

Married or de facto couples (including same-sex couples) can make legally binding agreements known as Binding Financial Agreements before, during or at the end of a relationship.

 

A Binding Financial Agreement is a written document which sets out what you and your partner have agreed to do with respect to financial matters (including property settlement, maintenance and superannuation splitting) in the event of a breakdown of the relationship.

 

A Binding Financial Agreement does not have to be approved by a court. They are used in order to ensure that a Court cannot interfere with private arrangements made between two consenting individuals.

 

As these Financial Agreements have stringent legal requirements to be fulfilled to ensure that they are legally binding, it is essential that you have an expert family lawyer advising you on your proposed Agreement. You need to have a frank discussion with your intended spouse or partner about what should be included in the Financial Agreement and both parties must be willing participants as you cannot force the other person to sign a Financial Agreement.

 

For those people who have been in unsuccessful relationships before, or who perhaps have significant wealth prior to entering into a marriage, or simply desire the certainty of knowing they will not end up in Court fighting over the division of assets if a relationship does not work out, Binding Financial Agreements can be a very useful and welcomed legal document.

 

In the context of potentially avoiding the stress and financial devastation which could be caused by future court litigation, the initial expense is definitely worth it for the future peace of mind.

 

For more information, contact us to make an appointment to discuss your situation.

 

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