It is important that after separation and upon an agreement being reached, it is documented properly, including considering the use of a Financial Agreement. If your agreement is not documented properly, your assets may not be adequately protected and remain at risk.
One of the ways to finalise your agreement, is by way of a Financial Agreement.
Financial Agreements can be entered into prior to a marriage, during a marriage or after Divorce. Agreements prior to a marriage are often referred to as “Pre-Nuptial Agreements”. These agreements allow you to decide together, in advance, and whilst you both have each other’s best interests in mind, what you think is fair and what you will do with your property in the event you separate.
Similarly in de facto matters, a Financial Agreement can be entered into prior to the parties commencing living together, during a De facto Relationship, and after a De facto Relationship has ended.
The Family Law Act outlines the mandatory requirements that need to be satisfied for any agreement to be binding upon both parties. It is for this reason that Financial Agreements are complex documents and require precise drafting to ensure that they are binding.
The drafting and completion of these agreements takes time and as such, you should ensure that you do not leave things until the last minute. You should also be cautious to ensure that you and your partner do not cut corners and instead, co-operate with your legal advisors so that all requirements are met.
For more information regarding Financial Agreements, see our Frequently Asked Questions. Alternatively, make an appointment with our Family Lawyers Gold Coast to obtain comprehensive advice.
Financial Agreement
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The only recognised way you can document your Agreement is by way of Consent Order or Financial Agreement for Property Matters, or Consent Order or a Parenting Plan for child matters.
Both documents serve to finally determine the parties’ financial relationship, meaning that whatever items you have agreed you will keep will remain yours without the other party being able to claim on those items. There are various differences, including but not limited to the following:-
This list is by no means exhaustive and you should speak to us about which option is best for you.
No. A Consent Order is filed with the Family Court, however, there is no appearance required.
Contact our Gold Coast Lawyers Team