Binding financial agreements are commonly used in the family law area to reduce uncertainty between parties and to formalise an agreed arrangement without requiring a court appearance.
Kelly Family Law advises clients on financial agreements in two main areas:
Financial Agreements – Pre Cohabitation
Widely known by the term “pre-nups” or pre-nuptial agreements this type of agreement between parties is prepared and executed either prior to or during a relationship existing. The intent of the agreement is to give each party a clear understanding of the property and financial arrangements that will existing in the event of the relationship breaking down and the parties separating.
While these agreements particularly suit partners with sizable existing assets, those entering into second or subsequent marriages or those who have the potential to inherit family owned property it is advisable to consider a financial agreement early in any relationship.
Agreeing, or even just discussing, these agreements can be difficult emotionally for both parties but Kelly Family Law is experienced in conducting the process in a way which minimises the chance for offence or emotional issues to overide the practical value of putting the agreement into place.
Financial Agreements – After separation
Separating or divorcing spouses may find that they can easily reach agreement about how finances and assets are to be divided. Provided the division fits within the range of what the Courts consider a fair and equitable division it is possible for the parties to execute a financial agreement that sets out the arrangements and avoids the need for costly Court appearances or protracted negotiations.
If we can help you with a financial agreement or you would simply like to know more about how to raise the issue with your spouse please call now on 07 4911 0500 or email us for a confidential consultation with an experienced Mackay family lawyer.
