Financial Agreements are an option for people who would like to reach agreement with their partner about property settlement and related financial matters in the event their relationship breaks down. These agreements can be entered into at any stage of a couple’s relationship whether they are married or not. They are often referred to as ‘pre-nuptial’ agreements.
When properly prepared, Financial Agreements are usually binding on a couple and prevent the court making financial arrangements for the parties other than as provided in their Financial Agreement.
It is essential that your Financial Agreement is prepared by a specialist Family Lawyer. The law sets out strict requirements for Financial Agreements which, if not adhered to, are likely to result in the Financial Agreement being set aside by a court. If that occurs you or your partner may apply to the court for financial orders that are different to those contained in the Financial Agreement.
Financial Agreements must be carefully drafted and contain considerable detail. The lawyer for each party must provide independent legal advice to their client and certify that they have done so.
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